Kings Apartments 3126 E. Victory Rd 300 Unit Apartment Building $117,059,227 CAD ($390,197 CAD/Unit) 5% Cap Rate Nampa, ID 83687

Introducing a brand-new 300-unit apartment complex located at the prime intersection of Victory and Kings Roads in Nampa, Idaho. Construction on the project can begin in April 2026. This exceptional property is strategically situated near the College of Western Idaho and a thriving category killer retail center, making it an attractive residence for a diverse tenant base. Designed with modern living in mind, the complex features state-of-the-art amenities, spacious floor plans, and high-quality finishes that cater to the needs of today’s renters. Residents will enjoy access to a range of facilities, including a fitness center, community lounge, outdoor recreational areas, and ample parking, ensuring a lifestyle of convenience and comfort. The property's location is a major draw, providing easy access to major transportation routes and proximity to educational institutions, shopping, dining, and entertainment options. The vibrant community atmosphere and robust economic growth in Nampa further enhance the appeal of this investment. Note pictures are from a similar property by the same builder. There are a total of fourteen (14) buildings in the complex. There are three (3) 12 plexes and eleven (11) 24 plexes. Phase One including 120 units is under construction now. See our listing for all buildings included in that phase.
UPDATES FROM THE ARCHITECT
We are currently submitted for site improvements with the City of Nampa and anticipate ??nal review and permit approval in approximately 30 days. Our architect has completed the construction documents (CDs) for two of the three building types in Phase 1 and is actively working on the third building type along with the clubhouse. Once the civil/site plans receive approval, we plan to submit for all Phase 1 building permits immediately, which we expect could result in building permit
approval in roughly three months (assuming a reasonable two-month city review period for the buildings). At that point, we would be able to begin vertical construction. The city has confirmed that site improvements can proceed according to the approved phasing plan; however, a significant portion of the utility work and subsurface drainage will need to be completed in conjunction with the Phase 1 scope.