$3,500,000
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100 66th Avenue SW Cedar Rapids, IA 52404
Other
Residence
Beds
Baths
42,000
Sq. Ft.
1.61
Acre
Lot
Property Activity
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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.
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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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