Listing Courtesy of: John Beardsworth - SKOGMAN REALTY 319-366-6427
$3,500,000 affordable loan icon Calculate Payment

100 66th Avenue SW Cedar Rapids, IA 52404

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Other Residence
Beds
Baths
42,000 Sq. Ft.
1.61 Acre Lot

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Last updated on 11/13/2024 1:26 PM
This is an exceptional chance to own a multifamily investment with significant upside potential. Spread across six buildings, each containing eight units, this 48-unit complex offers mostly 3-bedroom, 2-bathroom units with kitchens and living rooms. Each building features a common laundry, adding co...nvenience for tenants and reducing operating costs. With pro forma projections estimating an average rental income of $1,200/month per unit and a conservative 50% expense-to-income ratio, this property is poised for impressive returns. The current owner has already invested in updating many units, with a reputable contractor ready to complete remaining renovations to maximize rent potential. Lease-up is currently underway, providing a solid start to cash flow for the new owner. Take advantage of the estimated $5.5 million ARV and secure this investment now while it’s on the path to stabilization. This property offers long-term growth potential in a market with high demand for quality rentals. Don’t miss this opportunity to acquire a potential high-yield asset with excellent projected returns. Continue reading
MLS#
2407803
Property Type
Other
Year Built
1978
Square Feet
42,000 sq. ft
Lot Size
1.61
Sewer
Public Sewer

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Listing Courtesy of: John Beardsworth - SKOGMAN REALTY 319-366-6427
Albert Wright Page, License B62241000, Xome Inc., License FO5635000, [email protected], 844-400-XOME (9663), 4471 North Billman Estates, Shelbyville, IN 46176

Information is provided exclusively for consumers personal, non - commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Copyright 2024 , Cedar Rapids Area Association of Realtors
This content last refreshed on 11/13/2024 1:26 PM. Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.
Information is deemed reliable but is not guaranteed.
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