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The drugs were found during the search of a premises on Kevin Street in Dublin 8 yesterday as part of Operation Thistle.
Around €10,000 worth of cannabis herb was also recovered.
The man is currently being detained under Section 2 of the Criminal Justice Act.
Speaking in the Dáil today, the housing Minister said a "dramatic increase" in accommodation on or near college campuses is needed to help alleviate the housing crisis.
He suggested using 'rapid-build' or modular housing to help take students out of the regular market, adding that students and families need different types of accommodation so it makes no sense to have them competing for the same properties.
Minister Coveney had also committed to publish an Action Plan for Housing by the end of July, but the government is now set to miss its own deadline.
It's after Northern Ireland lifted its ban today, 30 years after it was introduced on both sides of the border during the AIDS crisis in the 1980s.
Stormont's new Minister for Health Michelle O'Neill said she would lift the ban in favour of a "one-year deferral system" - meaning that gay and bisexual men can give blood one year after their last sexual contact with another man.
The new policy will come into effect on September 1st of this year.
A one-page report by the Midwest Medical Examiner's Office in the US says the 57-year-old administered the drug himself, but when he took it was unknown.
The office said it has completed its investigation and had no further comment to make.
Prince was found dead at his estate in the Minneapolis area on April 21st.
The museum is located along the banks of the river Seine, which swelled to more than five metres above its usual levels today and burst its banks in places.
The Musee d'Orsay closed early today to implement their own flood protection plan.
Severe flooding across France over the past few days has also forced parts of its Metro network to shut down.