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John West

Operator / Designated Broker | West Real Estate Group | PLACE

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324 NE 3rd St. , Meridian, ID 83642
$6,950,000
Est. Payment: $35,447.02/mo
0 Bed
0 Bath
28238 Sqft
Status: pending | Days on site: 42
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VCR-C15903466 - VCR-C159091383,VCR-C159052275

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John West
Operator / Designated Broker
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House 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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Highlights

Listed by Robert Santangelo , 760-505-2222 and Andrew Bussen , 208-809-0766 Real Broker LLC , 855-450-0442. Intermountain Multiple Listing Service mls logo

Property Type

Multi-Family

Year Built

2018

County

Ada

 Neighborhood

0 Not Applic.

 School District

West Ada School District

Listing ID

98988433

Questions about this listing?

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Interior Features

Bedrooms and Bathrooms
  • ▪ Bedrooms:0
  • ▪ Bathrooms:0
  • ▪ Full Bathrooms:
Appliances:Disposal (All Units), Stove/Range (All Units), Refrigerator (All Units), Washer/Dryer (All Units)
Air Cond:Central Air
Fireplaces:
Floor:Laminate
Other:Other

Exterior Features

Lot:1 - 4.99 Acres,Full,Vinyl,Wood,Sewer Connected
Garage Capacity:40
Roof:Composition
Parking Features:Carport
Principal Interest
$35,447
Taxes
$2,431

Home Price

$6,950,000

Loan Details

30 yrs
6.583%

Down Payment

20%
$1,390,000
All calculations are estimates and provided by Blueroof360. Today’s Rates provided by Blueroof360. Information and interactive calculators are made available to you only as self-help tools for your independent use and are not intended to provide investment or tax advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.
Monthly Price:
$35,447.02

Principal

Taxes

Principal Taxes HOA Total
Monthly $35,447.02 $2,430.75 $0.00 $37,877.77
Yearly $425,364.27 $29,169.00 $0.00 $454,533.27
Total $12,760,928.04 $875,070.00 $0.00 $13,635,998.04

Today's Rates

30 Year

6.58%

20 Year

6.65%

15 Year

6.14%

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Market insight data is pulled from the same city as the listing being viewed (Meridian, ID).

The schools listed are within a 2-mile radius of the property; however, attendance is not guaranteed. Please contact the local school district to confirm zoning and enrollment options.

The data relating to real estate for sale on this web site comes in part from the Intermountain Multiple Listing Service, Inc.. Real estate listings held by brokerage firms other than West Real Estate Group | PLACE are marked with the IDX logo.
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Lifestyle, neighborhood, and school data (“Supplemental Data”) is provided by the operator of this website as a convenience to users. This Supplemental Data is not provided or reviewed by Intermountain Multiple Listing Service, Inc.. The operator of this website updates the Supplemental Data from time to time, but it does not represent, warrant or otherwise promise that the Supplemental Data is current, free from defects, or error-free. All Supplemental Data is provided AS IS with all faults. Users are encouraged to consult their own data sources to confirm the accuracy of all Supplemental Data before using the Supplemental Data as a basis for any decision.
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Data last updated: 2026-07-27T02:51:33.000Z

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