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Roosevelt 200 E Arlington St 21 Unit Apartment Building $850,000 ($40,476/Unit) 9.87% Cap Rate Waterloo, IA 50703
INVESTMENT HIGHLIGHTS
- Excess land for potential new property development
- These units were converted from a school to affordable senior units through the historical rehab program in 2003 and feature in unit furnaces, 10 ft c
- Bigger whole field/play area is available for development
EXECUTIVE SUMMARY
The KataLYST Team by KW Commercial is pleased to market exclusively for sale the Roosevelt Senior Apartments located in Waterloo, IA. These units were converted from a school to affordable senior units through the historical rehab program in 2003 and feature in unit furnaces, 10 ft ceilings, an elevator, sprinkler system, and upgrades throughout.
The Roosevelt Senior Apartments have surpassed their initial 15-year LP/GP hold structure and are within the 2nd 15-year phase for senior affordable housing. Current vacancy exceeds 25% and will require a significant down-payment and proven operator to obtain new financing. However, with management improvements,
factoring in a 10% vacancy, 3% expense increases, marginal 1.8% rent increases, as well as Reserves and upkeep, new ownership should be able to obtain a 10%
Cap rate or above.
The Roosevelt Senior Apartments have surpassed their initial 15-year LP/GP hold structure and are within the 2nd 15-year phase for senior affordable housing. Current vacancy exceeds 25% and will require a significant down-payment and proven operator to obtain new financing. However, with management improvements,
factoring in a 10% vacancy, 3% expense increases, marginal 1.8% rent increases, as well as Reserves and upkeep, new ownership should be able to obtain a 10%
Cap rate or above.
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
-
|
-
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
| Price | $850,000 | Apartment Style | Low-Rise |
| Price Per Unit | $40,476 | Building Class | B |
| Sale Type | Investment | Lot Size | 1.89 AC |
| Cap Rate | 9.87% | Building Size | 40,380 SF |
| No. Units | 21 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built/Renovated | 1935/2003 |
| Price | $850,000 |
| Price Per Unit | $40,476 |
| Sale Type | Investment |
| Cap Rate | 9.87% |
| No. Units | 21 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 1.89 AC |
| Building Size | 40,380 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built/Renovated | 1935/2003 |
AMENITIES
UNIT AMENITIES
- Washer/Dryer Hookup
- Heating
- Kitchen
- Range
SITE AMENITIES
- Clubhouse
- Laundry Facilities
- Elevator
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 11 | - | 600 |
| 2+1 | 10 | - | 740 |
1 1
PROPERTY TAXES
| Parcel Number | 8913-13-302-003 | Improvements Assessment | $152,200 (2025) |
| Land Assessment | $57,800 (2025) | Total Assessment | $210,000 (2025) |
PROPERTY TAXES
Parcel Number
8913-13-302-003
Land Assessment
$57,800 (2025)
Improvements Assessment
$152,200 (2025)
Total Assessment
$210,000 (2025)
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Roosevelt | 200 E Arlington St
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