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Craftsman-style house with board and batten siding, roof with shingles, and brick siding
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View of asphalt street featuring a residential view and curbs
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Covered parking lot featuring a residential view
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View of building exterior
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Kitchen featuring dark wood finish cabinetry, black appliances, a peninsula, dark wood-type flooring, and recessed lighting
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View of front of house with board and batten siding, brick siding, roof with shingles, and covered parking
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View of front of property featuring board and batten siding, covered and uncovered parking, brick siding, and a shingled roof
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View of front of house featuring board and batten siding, covered parking, and stone siding
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Exterior view
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Living room with wood finished floors
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Bedroom featuring carpet flooring and baseboards
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Dining space with dark wood-style flooring and hanging lights
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Bathroom with vanity and tub / shower combination
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.
- 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' 44.1''
- Latitude:
- N43° 36' 23.7''
- School District:
- West Ada School District
- Elementary School:
- Meridian
- Middle School:
- Meridian Middle
- High School:
- Meridian
- Status:
- Active
- 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:
- Not Applicable
- Roof:
- Composition shingle
- Water:
- City service
- Land Use:
- Historic district, 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 :
- 98972987
- Price :
- $6,950,000
- Apx SqFt :
- 28,238 SqFt
- Year Built :
- 2018
- Days on Market :
- 31
- Subdivision :
- 0 Not Applic.
- Update Date :
- 02/26/2026 15:04:23
