4-Unit Residential
New
For Sale
$850,000
21 SW 7th Ave, Meridian, ID 83642
Residential Income, Meridian, ID
Property Size3,440 SF
Lot Size0.22 Acres
Price / SF$247.09
Days on Market3
Property Features for 21 SW 7th Ave
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning description
Multi-Family
Bedrooms
8
Bathrooms
8
Full bathrooms
8
Rooms
Bathroom 3, Bathroom 4, Bathroom 5, Bedroom 3, Bedroom 7, Bedroom 8, Bathroom 1, Bedroom 2, Bathroom 6, Bedroom 6, Bathroom 7, Bedroom 5, Bedroom 1, Bathroom 2, Bathroom 8, Bedroom 4
Parking
8
Parking features
Driveway
Appliances
Stove/Range (All Units), Refrigerator (All Units), Washer/Dryer (All Units)
Subdivision
0 Not Applic.
Lot features
Standard Lot 6000-9999 S F, Sidewalks
Elementary school
Meridian
Middle school
Meridian Middle
High school
Meridian
Elementary school district
West Ada School District
Middle school district
West Ada School District
High school district
West Ada School District
Directions
W on I84, N on 10 Mile, E on Franklin, to SW 7th Ave.
Standard status
Active
APN
R2919350011
Size
3,440 SF
Lot size
0.22 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
LOT 1 BLK 1 EXC R/W FRANKLIN SQUARE SUB #0010-B #99036237
Tax Annual Amount
3195
Legal Description
LOT 1 BLK 1 EXC R/W FRANKLIN SQUARE SUB #0010-B #99036237
Utilities
Heating system
Electric (Heating)
Cooling system
Central Air
Building Details
Year built
1979
Number of units
4
Flooring type
Vinyl
Building materials
Frame, Steel Siding
Roof type
Composition
Listing Agency:
Western Idaho Realty
(208) 459-8600
Listed By:
Craig Lindquist · License #37943
(208) 921-0092
Added: Oct 13
Last Checked: Oct 15 at 3:06AM
MLS# 99003582
Copyright © 2026 Intermountain 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.
This 4-unit residential property contains 3,440 square feet on a 0.22-acre lot. Each unit is configured with two bedrooms and two bathrooms. Stoves, refrigerators, and washers and dryers are provided in all four units. The building dates to 1979 and has frame construction with steel siding, vinyl flooring, electric heat, and central air conditioning. Parking is available in the driveway.
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.
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.
Key Highlights
- Four units, each with 2 bedrooms and 2 bathrooms
- 3,440 square feet on a 0.22‑acre lot
- Stove, refrigerator, and washer/dryer in every unit
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 - Every residence has two bedrooms, two bathrooms, and a washer and dryer.
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 units, each with 2 bedrooms and 2 bathrooms; 3,440 square feet on a 0.22‑acre lot; Stove, refrigerator, and washer/dryer in every unit
