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 5.25% going-in capitalization rate based on stabilized pro forma income at estimated market rents.
- Heating:
- Forced Air, Gas
- Cooling:
- Central air
- Garage Type:
- Carport
- Total Parking:
- 40
- Refrigerator:
- All units
- Stove/Range:
- All units
- Washer/Dryers:
- All units
- Washer/Dryer Hookups:
- All units
- Country:
- US
- State:
- ID
- County:
- Ada
- City:
- Meridian
- Zipcode:
- 83642
- Street:
- 324 NE 3rd St.
- Longitude:
- W117° 36' 45.2''
- Latitude:
- N43° 36' 23.7''
- School District:
- West Ada School District
- Elementary School:
- Meridian
- Middle School:
- Meridian Middle
- High School:
- Meridian
- Status:
- New
- Type:
- Apartment
- Tax Year:
- 2025
- Taxes:
- $29,169
- Potential Short Sale:
- No
- Unit count:
- 28
- Age:
- 6-10 Years
- Auction:
- No
- Flood Ins Required:
- No
- In Foreclosure:
- No
- Land Size:
- 1 - 4.99 Acres
- Home Owner Exempt:
- No
- HOA Frequency:
- Annual
- Construction:
- Foundation - Crawl Space, Hardi Type Siding
- Roof:
- Composition shingle
- Water:
- Other
- Waste Disposal System:
- All Units
- Land Use:
- 5+ units
Residential Income For Sale
324 NE 3rd St., Meridian, Idaho 83642
- Property Type :
- Residential Income
- Listing Type :
- For Sale
- Status :
- Active
- Listing ID :
- 98988433
- Price :
- $6,950,000
- Apx SqFt :
- 28,238 SqFt
- Year Built :
- 2018
- Days on Market :
- 2
- Subdivision :
- 0 Not Applic.
- Update Date :
- 05/31/2026 12:21:11