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253-691-8561
Terrafin Real Estate
324 NE 3rd St., Meridian, ID 83642
- $6,950,000
- 28,238
- SqFt
Courtesy of Real Broker LLC. Cell: 760-505-2222
- List Price
- $6,950,000
- Status
- PENDING
- Closing Date
- Nov 23, 2026
- MLS#
- 98988433
- Year Built
- 2018
- Living Area
- 28,238
- Subdivision
- 0 Not Applic.
Property Description
324 NE 3rd Street is a 28-unit, investment-grade multifamily property that is easy to manage and has 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 a 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 5.42% going-in capitalization rate based on stabilized pro forma income at estimated market rents.
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Additional Information
- Taxes
- $29,169
- Heating
- Forced Air, Natural Gas
- Air Conditioning
- Central Air
- Exterior Construction
- HardiPlank Type
- Roof
- Composition
- Parking Features
- Carport
- School District
- West Ada School District
- Elementary School
- Meridian
- Middle School
- Meridian Middle
- High School
- Meridian
Information courtesy of Intermountain Multiple Listing Service. Information provided by IMLS is deemed reliable but not guaranteed. IDX information is provided exclusively for consumers' personal, non‐commercial use, it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. IMLS does not assume any liability for missing or inaccurate data. All listings provided by IMLS are marked with the official IMLS IDX icon.