324 NE 3rd St - Multi-Family FOR SALE


Meridian, ID 83642- Northeast Meridian
$6,950,000 USD
208-809-0766
324 NE 3rd St, Meridian, ID for Sale
$6,950,000 USD
Multi-Family - FOR SALE
1/20
null | Request Cap Rate

324 NE 3rd St
Meridian, ID 83642
Northeast Meridian


HIGHLIGHTS

  • Walkable to downtown Meridian

OVERVIEW

324 NE 3rd Street represents a 28-unit multi-family investment grade 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 the common areas, 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 its 2018 construction 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. A Confidentiality Agreement is required to provide a current rent roll and income and expense data.

FOR SALE DETAILS

PRICE

$6,950,000 USD

PRICE/SF

$246 USD /SF

# OF UNITS

28

PRICE/UNIT

$248,214

CAP RATE

Request Cap Rate

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Third Street Square

PROPERTY TYPE

Multi-Family

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

2018

PARKING SPACES

-

LAND DETAILS

LAND ACRES

-

LAND SF

-

ZONING

-

APN/PARCEL ID

R8393710100

ASK ABOUT THIS PROPERTY

Andrew BussenCOMPASS REMore Info
208-809-0766

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Andrew BussenCOMPASS REMore Info
208-809-0766

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.