Listing Courtesy of:
Compass RE
Agency Phone: 208-269-3371
BEDS0
BATHS
SQUARE FEET28,238
MLS#98972987
STATUSActive
PROPERTY TYPEMulti Unit - Multiple
SUBDIVISION0 Not Applic
SCHOOLWest Ada School District
Listing Courtesy of:
Compass RE
Agency Phone: 208-269-3371
Property Description
324 NE 3rd Street is a 28-unit multi-family investment-grade property that is easy to manage with a strong rental history. The unit mix includes virtually identical two-bedroom, two-bath units with a primary bedroom and private bath, in-unit laundry, separate kitchen and dining areas, and spacious living rooms. Constructed in 2018, the development comprises the Third Street Square plat, which consists of eight (8) parcel numbers assigned to each building and the common area clubhouse, providing flexibility for investors. The property also features a common-area clubhouse with numerous opportunities to enhance tenant amenities. The property has abundant on-site parking, including 30 covered carport stalls and additional surface parking. The property has maintained near 100% occupancy since 2018 and has upside income potential relative to market rents. The property is offered at $6,950,000, yielding a 5.25% going-in capitalization rate based on stabilized pro forma income at estimated market rents.
Property Features
Property Type: Multi Unit - Multiple
Cooling: Central Air
Heating: Forced Air, Natural Gas
Roof Type: Composition
Taxes: $29,169
Year Built: 2018
Feature Descriptions
Appliances: Stove/Range (All Units), Refrigerator (All Units), Washer/Dryer (All Units)
Days on Site: 33
Laundry: Washer/Dryer Hookups (All Units)
Lot: 1 - 4.99 Acres
Parcel#: R8393710040
Parking: Carport
Parking Notes: Carport
Units: 28
Utilities: Sewer Connected
Water: City Service
Local Schools
High School: Meridian
Middle School: Meridian Middle
Elementary School: Meridian
School District: West Ada School District
Listed By / Shown By
Listed By
Agency Name: Compass RE
Agency Phone: 208-269-3371
Shown By
Agency Title: Coldwell Banker Tomlinson
Agency Phone: (208) 343-3393
Estimate Your Payment
Estimated Payment
$ 41,448.65 per month $36,990.82 Principal & Interest $2,430.75 Property Tax $2,027.08 Homeowner's Insurance
324 NE 3rd St. | MLS# 98972987
This multi-family property located at 324 NE 3rd St., Meridian, ID 83642 is currently listed for sale with an asking price of $6,950,000. NE 3rd St. is located within the West Ada School District school district. Search Meridian real estate on www.cbboise.com today.