1600 3rd Ave SE | Cedar Rapids, IA 52403
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- LoopNet Team
1600 3rd Ave SE
Cedar Rapids, IA 52403
Multifamily Property For Sale
·
6 Units
INVESTMENT HIGHLIGHTS
- Located near the 1st Ave Retail corridor.
- 9.55% cap rate
- Hy-vee, Starbucks, Coe College nearby
- $34,000 per door
PROPERTY FACTS
| No. Units | 6 | Lot Size | 0.10 AC |
| Property Type | Multifamily | Building Size | 4,515 SF |
| Property Subtype | Apartment | Average Occupancy | 83% |
| Apartment Style | Garden | No. Stories | 3 |
| Building Class | C | Year Built | 1924 |
| Zoning | Class 3+ Units - Class 3+ Units. The recent residential rollover tax in 2023 reduced taxes to $2,745 per year. | ||
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.10 AC |
| Building Size | 4,515 SF |
| Average Occupancy | 83% |
| No. Stories | 3 |
| Year Built | 1924 |
| Zoning | Class 3+ Units - Class 3+ Units. The recent residential rollover tax in 2023 reduced taxes to $2,745 per year. |
AMENITIES
UNIT AMENITIES
- Cable Ready
- Washer/Dryer
- Heating
- Kitchen
- Hardwood Floors
- Oven
- Basement
- Linen Closet
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 5 | $562.50 | 625 |
| Studios | 1 | $512.50 | 525 |
PROPERTY TAXES
| Parcel Number | 14222-09007-00000 | Improvements Assessment | $172,900 |
| Land Assessment | $9,500 | Total Assessment | $182,400 |
PROPERTY TAXES
Parcel Number
14222-09007-00000
Land Assessment
$9,500
Improvements Assessment
$172,900
Total Assessment
$182,400
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