3-Unit Triplex with Metal
704 E Grove Ave, Parma, ID 83660
For Sale
New
$325,000
Each residence has separate utility meters and washer/dryer connections.
Property Size2,132 SF
Price / SF$152.44
Days on Market4
Property Features for 704 E Grove Ave
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Zoning
Property Condition
Severity
Evidence
Units
Multifamily Units
Individually Metered Utilities
Additional Details
Utilities to Site
Taxes and HOA fees
Annual Taxes
Amenities
washer/dryer hookups
low maintenance yard
off-street parking
Building Details
Building Size
Year Built
Units
Listing Agency:
Michael Ryan Real Estate
(208) 577-6886
Listed By:
Kelly Braaksma
(208) 340-2401
Source:
Idahofarmandhome
Added: Nov 10
Changed: Nov 12
Last Checked: Nov 12 at 9:46PM
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 Michael Ryan Real Estate
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Investment Insights
Based on property information with market context.
This 3-unit residential property at 704 E Grove Ave in Parma contains 2,132 square feet and dates to 1915. Metal roofing serves the building, and each unit has washer/dryer hookups. The property requires updating. It is zoned R-3.
Water, gas, and electric service are separately metered for all three units. Off-street parking is available in the alleyway, and the yard is described as low maintenance.
Water, gas, and electric service are separately metered for all three units. Off-street parking is available in the alleyway, and the yard is described as low maintenance.
Key Highlights
- Three residential units in 2,132 square feet
- Built in 1915; zoned R‑3
- Separate water, gas, and electric meters for each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,791
Cap Rate
3.94%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$255,820
$255.8K
Cap Rate 7%
$182,729
$182.7K
Cap Rate 9%
$142,122
$142.1K
Market Conditions
NOI Build-Up for 2,132 SF
Gross rent
$18.9K $8.88/SF
− Vacancy
−$659 −$0.31/SF
EGI
$18.3K $8.57/SF
− OpEx
−$5.5K −$2.57/SF
NOI
$12.8K $6.00/SF
Area
Canyon County, ID
Vacancy
3.48%
Lease Rate
$8.88 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$255,820
Cap Rate 7%
$182,729
Cap Rate 9%
$142,122
Alternative Uses
Best Use
Apartment 5plus
$437.7K
$383.0K – $510.6K
NOI $30,637 @ 7.0% cap · market cap 9.43%
Second Best
Multifamily LT 5
$182.7K
$159.9K – $213.2K
NOI $12,791 @ 7.0% cap · market cap 3.94%
Theoretical Best
Office A
$567.9K
$496.9K – $662.5K
NOI $39,750 @ 7.0% cap · market cap 12.23%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Lease Details
3
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
171
Businesses Nearby
Explore this area
Business Placement
Demographics for 83660, ID
6,317
Population
2,227
Households
2.8
Avg Household Size
39
Median Age
18%
College-Educated
83%
High-School Grad
124.3 sq mi
ZIP Area
51
Density / Sq Mi
$60,634
Median Household Income
$36,176
Median Earnings
$982
Median Rent
$363,600
Median Home Value
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View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Triplex - Each residence has separate utility meters and washer/dryer connections.
Where is this triplex located?
The property is located at 704 E Grove Ave Parma, ID.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Three residential units in 2,132 square feet; Built in 1915; zoned R‑3; Separate water, gas, and electric meters for each unit
