1111 N 11th Ave E, Newton, IA, 50208 - Available for Sale

Multifamily For Sale

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1111 N 11th Ave E

1111 N 11th Ave E, Newton, IA 50208

$825,000

28 Units | Multifamily

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Multifamily Property For Sale

Price:
$825,000
No. Units:
28
Building Size:
18,368 SF
Price/Unit:
$29,464.29
Property Type:
Multifamily
Property Sub-type:
Garden/Low-Rise
Property Use Type:
Investment
Commission Split:
2%
Cap Rate:
9.60%
Occupancy:
95%
No. Stories:
2
Year Built:
1974
Parking Ratio:
2 / 1,000 SF
Listing ID
18317133
Last Updated
36 days ago

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Description

These two buildings are located in a park like setting. There is plenty of offstreet parking, onsite laundry, and a good mix of units (15 two bedroom, 12 one bedroom, 1 studio). Rental demand has been strong recently with low vacancy. These properties went through many upgrades which will ensure that these units will require minimal maintenance for a long time.

1111 N 11th Ave E (16 units) & 420 N 8th Ave E (12 units) located in quiet residential area.

Financial Summary

Unit Mix Information

Debt & Equity Information

  • Actual
  • $153,673
  • $153,673
  • $74,708
  • $95,370
  • $78,965

Map of 1111 N 11th Ave E, Newton, IA 50208 (Jasper County)

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Asking Price Index Trends for Newton, IA Multifamily For Sale

  Jun 14 vs. 3 mo.
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Y-O-Y
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State
$37,751+1.1%-5.8%

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Created 8/17/2013
1111 N 11th Ave E
  • Multifamily
  • $825,000
  • 28 Units
  • 18,368 SF