13-Unit Apartment Duplex
For Sale
$4,375,000
3834 E 3rd Ave, Post Falls, ID 83854
MULTI_FAMILY - Post Falls, ID
Property Size16,862 SF
Lot Size1.21 Acres
Price / SF$259.46
Days on Market74
Property Features for 3834 E 3rd Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R3
Bedrooms
21
Full bathrooms
21
Rooms
Bedroom 3, Bathroom 1, Bathroom 11, Bathroom 2, Bedroom 21, Bedroom 4, Bedroom 13, Bathroom 14, Bathroom 15, Bathroom 18, Bedroom 20, Bedroom 17, Bedroom 12, Bathroom 6, Bathroom 13, Bedroom 2, Bedroom 7, Bathroom 10, Bedroom 19, Bathroom 21, Bedroom 6, Bedroom 9, Bathroom 3, Bedroom 11, Bedroom 16, Bedroom 10, Bedroom 18, Bathroom 4, Bathroom 17, Bedroom 8, Bedroom 15, Bathroom 16, Bathroom 5, Bedroom 5, Bathroom 19, Bathroom 8, Bathroom 20, Bedroom 14, Bedroom 1, Bathroom 9, Bathroom 7, Bathroom 12
Subdivision
Post Falls
Lot features
Level
Elementary school district
Post Falls - 273
Middle school district
Post Falls - 273
High school district
Post Falls - 273
Directions
Take I-90 Exit 5 to N Spokane St. Turn right on E Seltice Way, left on N Ridgewood Dr, and right on E 3rd Ave. 3834 is on your left.
Standard status
Active
APN
P1650000002A
Size
16,862 SF
Lot size
1.21 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
East End Add To Pf, N2-Block 2, Ptn Vac Rw 0150N05w
Tax Annual Amount
16421
Legal Description
East End Add To Pf, N2-Block 2, Ptn Vac Rw 0150N05w
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating)
Water source
Public
Building Details
Year built
2003
Number of units
13
Building materials
Wood Siding, Concrete, Frame
Roof type
Concrete
Architectural style
Other
Listing Agency:
SVN Cornerstone Commercial
(509) 321-2000
Listed By:
Jordan Lester · License #1271842
(509) 496-6922
Added: Jun 18
Changed: Aug 5
Last Checked: Aug 30 at 5:06PM
MLS# 26-6313
Copyright © 2026 Coeur d'Alene Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
SVN Cornerstone presents Ridgewood Gardens, a 13-unit duplex and single-family home community in Post Falls, Idaho. The property is configured as one-level, side-by-side homes and includes 8 two-bedroom/two-bath units and 5 one-bedroom/one-bath units.
Ridgewood Gardens sits on a 1.21-acre lot totaling 16,862 square feet. The property was built in 2003 and features wood siding, concrete, and frame construction with a concrete roof. Heating is electric, and utilities include public water and public sewer.
Zoned R3, Ridgewood Gardens is positioned in the heart of Post Falls, with convenient access to shopping, dining, healthcare, employment, and outdoor recreation. The location also provides quick connectivity to both Coeur d’Alene and Spokane via I-90.
Ridgewood Gardens sits on a 1.21-acre lot totaling 16,862 square feet. The property was built in 2003 and features wood siding, concrete, and frame construction with a concrete roof. Heating is electric, and utilities include public water and public sewer.
Zoned R3, Ridgewood Gardens is positioned in the heart of Post Falls, with convenient access to shopping, dining, healthcare, employment, and outdoor recreation. The location also provides quick connectivity to both Coeur d’Alene and Spokane via I-90.
Key Highlights
- 13 total units: eight 2 bed/2 bath and five 1 bed/1 bath
- 1.21‑acre property totaling 16,862 SF
- Zoned R3
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$142,428
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.26%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,848,560
$2.8M
Cap Rate 7%
$2,034,686
$2.0M
Cap Rate 9%
$1,582,533
$1.6M
Market Conditions
NOI Build-Up for 16,862 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$273.2K $16.20/SF
− Vacancy
−$14.2K −$0.84/SF
EGI
$259.0K $15.36/SF
− OpEx
−$116.5K −$6.91/SF
NOI
$142.4K $8.45/SF
Area
Kootenai County, ID
Vacancy
5.20%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,848,560
Cap Rate 7%
$2,034,686
Cap Rate 9%
$1,582,533
Alternative Uses
Best Use
Apartment 5plus
$2.03M
$1.78M – $2.37M
NOI $142,428 @ 7.0% cap · market cap 3.26%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.66M
$3.20M – $4.27M
NOI $256,046 @ 7.0% cap · market cap 5.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
13
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
406
Businesses Nearby
Explore this area
Business Placement
Demographics for 83854, ID
49,040
Population
20,440
Households
2.4
Avg Household Size
37
Median Age
23%
College-Educated
92%
High-School Grad
77.6 sq mi
ZIP Area
632
Density / Sq Mi
$72,820
Median Household Income
$41,223
Median Earnings
$1,311
Median Rent
$433,700
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - R3 zoned, one-level side-by-side 13-unit duplex and single-family community with public water and sewer.
Where is this apartment building located?
The property is located at 3834 E 3rd Ave Post Falls, ID.
What is the asking price?
The asking price for this property is $4,375,000.
What are key features of this property?
This property features: 13 total units: eight 2 bed/2 bath and five 1 bed/1 bath; 1.21‑acre property totaling 16,862 SF; Zoned R3
