812 4Th StMeridian, ID 83642

Property Details for 812 4Th St

Year built

1971

Property size (Sq ft)

3,252 SF

Property type

Residential income homes

Description

This exceptional three-unit multifamily property, located at 812 NW 4th St, Meridian, ID 83642, presents a compelling investment opportunity. Boasting a total of 3,252 square feet, this Class C property was built in 1971 and underwent a comprehensive renovation in 2023. The renovation included a new roof with warranty, fresh exterior paint, new exterior doors and windows, updated exterior lighting, new sidewalks and waterlines, improved landscaping, and the installation of new wall A/C units in each unit. All units feature new appliances (except the oven/range and dishwasher in unit 810). Gas lines are available on the property but are not currently connected to any units. The property enjoys a strong rental history; one unit has been continuously occupied for 10 years, another for 7 years, and the third unit was recently renovated and immediately leased. Current monthly rents are $1,895, $1,195, and $1,395 respectively. The property offers a 6.00% cap rate and a net operating income (NOI) of $48,959, with an asking price of $778,500 ($259,500 per unit and $239.39 per square foot). This turnkey investment is situated in Ada County, offering immediate cash flow and significant potential for future appreciation. The property's prime location in downtown Meridian ensures consistent tenant demand. This is a rare opportunity to acquire a well-maintained, high-performing multifamily investment in a thriving Idaho market.

Location Insight

City

Meridian

County

Ada

State

Idaho

Latitude

43.6114

Longitude

-116.398

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