4-Unit
New
For Sale
$850,000
21 SW 7th Ave, Meridian, ID 83642
Each residence has a two-bedroom, two-bath layout, with parking available on site.
Property Size3,440 SF
Price / SF$247.09
Days on Market2
Property Features for 21 SW 7th Ave
General Information
Standard status
Active
Size
3,440 SF
Property subtype
Multi-Family
Units
Unit Mix
4 x 2BR/2BA
Multifamily Units
4
Additional Details
Highway Access
Yes
Building Details
Year Built
1979
Listed By:
City of Trees Real Estate
(208) 278-6880
Source:
Realestate-idaho
Added: Oct 14
Changed: Oct 15
Last Checked: Oct 14 at 10:21PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of City of Trees Real Estate
Investment Insights
Based on property information with market context.
Built in 1979, this four-unit residential property contains 3,440 square feet. All four units have two bedrooms and two bathrooms, and the property includes parking.
Schools are nearby, and a shopping and business center is within 1/2 mile. The 10 Mile freeway interchange is less than a mile away, providing nearby freeway access.
Schools are nearby, and a shopping and business center is within 1/2 mile. The 10 Mile freeway interchange is less than a mile away, providing nearby freeway access.
Key Highlights
- Four residential units, each with 2 bedrooms and 2 bathrooms
- 3,440 square feet of building area
- Built in 1979
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$37,371
Cap Rate
4.40%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$747,420
$747.4K
Cap Rate 7%
$533,871
$533.9K
Cap Rate 9%
$415,233
$415.2K
Market Conditions
NOI Build-Up for 3,440 SF
Gross rent
$55.7K $16.20/SF
− Vacancy
−$2.3K −$0.68/SF
EGI
$53.4K $15.52/SF
− OpEx
−$16.0K −$4.66/SF
NOI
$37.4K $10.86/SF
Area
Meridian, ID
Vacancy
4.20%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$747,420
Cap Rate 7%
$533,871
Cap Rate 9%
$415,233
Alternative Uses
Best Use
Multifamily LT 5
$533.9K
$467.1K – $622.9K
NOI $37,371 @ 7.0% cap · market cap 4.40%
Second Best
Apartment 5plus
$493.0K
$431.4K – $575.2K
NOI $34,509 @ 7.0% cap · market cap 4.06%
Theoretical Best
Office A
$907.8K
$794.3K – $1.06M
NOI $63,546 @ 7.0% cap · market cap 7.48%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
889
Businesses Nearby
Explore this area
Business Placement
Demographics for 83642, ID
55,465
Population
22,700
Households
2.4
Avg Household Size
35
Median Age
44%
College-Educated
95%
High-School Grad
41.5 sq mi
ZIP Area
1,337
Density / Sq Mi
$96,361
Median Household Income
$45,824
Median Earnings
$1,629
Median Rent
$492,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Quadplex - Each residence has a two-bedroom, two-bath layout, with parking available on site.
Where is this quadplex located?
The property is located at 21 SW 7th Ave Meridian, ID.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Four residential units, each with 2 bedrooms and 2 bathrooms; 3,440 square feet of building area; Built in 1979
