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1405 Chestnut St 8 Unit Apartment Building $410,000 ($51,250/Unit) Atlantic, IA 50022
INVESTMENT HIGHLIGHTS
- Off-Street and Street Parking
- Coin Operated Washer/Dryer
EXECUTIVE SUMMARY
Rents are as follows: #1 - $800; #2 - $650; #3 - $748; #4 - $550; #5 - $800; #6 - $850; #7 - $665; #8 - $650
Landlord pays water, sewer and trash removal
Link to MLS listing (which is also attached): https://s.paragonrels.com/goto/DukRv8P3TO
Landlord pays water, sewer and trash removal
Link to MLS listing (which is also attached): https://s.paragonrels.com/goto/DukRv8P3TO
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
-
|
-
|
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
PROPERTY FACTS Under Contract
| Price | $410,000 | Building Class | C |
| Price Per Unit | $51,250 | Lot Size | 0.26 AC |
| Sale Type | Investment | Building Size | 6,240 SF |
| No. Units | 8 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1950 |
| Apartment Style | Low-Rise | Opportunity Zone |
Yes
|
| Zoning | Residential | ||
| Price | $410,000 |
| Price Per Unit | $51,250 |
| Sale Type | Investment |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.26 AC |
| Building Size | 6,240 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1950 |
| Opportunity Zone |
Yes |
| Zoning | Residential |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Washer/Dryer
- Heating
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
- Carpet
- Basement
- Handrails
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 4 | - | 600 |
| 2+1 | 4 | - | 800 |
1 1
PROPERTY TAXES
| Parcel Number | 300004738001000 | Total Assessment | $209,550 |
| Land Assessment | $12,260 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $197,290 | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
300004738001000
Land Assessment
$12,260
Improvements Assessment
$197,290
Total Assessment
$209,550
Annual Taxes
($1) ($0.00/SF)
Tax Year
2024
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1405 Chestnut St
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