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2103 Willis Avenue 2103 Willis Ave 5 Unit Apartment Building $1,180,000 ($236,000/Unit) 7.37% Cap Rate Perry, IA 50220
Investment Highlights
- 100% Occuppied, 5-Unit Multifamily Investment
- Flooring: Vinyl Plank and carpeted flooring
- Garages: 2 stall car garage
- Construction: 2x6 construction; Jeldwen sliding windows
- Kitchens: Quartz counter tops, tile back splash, soft close drawers
Executive Summary
CBRE is pleased to offer for sale Willis Townhomes in Perry, Iowa—a newly constructed, high-quality townhome style development consisting of five well-designed units, each offering three bedrooms and two-and-a-half bathrooms. The property features modern finishes, functional floor plans, and attached two-car garages, appealing to today’s renters seeking space and convenience. Strategically located in a central area of Perry, the asset benefits from strong local demand drivers and accessibility to major employers and amenities. Offered at a price below current replacement cost, Willis Townhomes presents investors with a rare opportunity to acquire a stabilized, low-maintenance asset with durable construction, minimal near-term capital needs, and long-term rental growth potential in
a steadily performing Iowa market.
a steadily performing Iowa market.
Property Facts
| Price | $1,180,000 | Building Class | C |
| Price Per Unit | $236,000 | Lot Size | 0.47 AC |
| Sale Type | Investment | Building Size | 1,442 SF |
| Cap Rate | 7.37% | Average Occupancy | 100% |
| No. Units | 5 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 2024 |
| Property Subtype | Apartment |
| Price | $1,180,000 |
| Price Per Unit | $236,000 |
| Sale Type | Investment |
| Cap Rate | 7.37% |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.47 AC |
| Building Size | 1,442 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 2024 |
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Somewhat walkable
30/100
Exceptionally drivable
100/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 02-10-459-001 | Improvements Assessment | $1,040,750 |
| Land Assessment | $25,000 | Total Assessment | $1,065,750 |
Property Taxes
Parcel Number
02-10-459-001
Land Assessment
$25,000
Improvements Assessment
$1,040,750
Total Assessment
$1,065,750
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2103 Willis Avenue | 2103 Willis Ave
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