2500 Olive St 7 Unit Apartment Building $585,834 ($83,691/Unit) 8.33% Cap Rate Cedar Falls, IA 50613

2500 Olive Street represents a rare opportunity to acquire a stable, income-producing multifamily asset in one of Iowa’s most resilient rental markets. Located in the heart of Cedar Falls, the property benefits from long-term demand drivers anchored by the University of Northern Iowa, a diversified employment base, and a steady influx of students, professionals, and workforce tenants. With its walkable residential setting near College Square Mall and well-established retail corridors, the address offers an exceptional balance of neighborhood appeal and access to daily amenities. [2500 Olive....5 in) (1) | PDF]
The property’s seven-unit composition provides investors with meaningful income stability while maintaining the operational simplicity associated with small-balance multifamily assets. The balanced unit mix includes four two-bedrooms, two one-bedrooms, and a studio, catering to multiple tenant segments including roommates, graduate students, and local professionals. Current occupancy stands at 100 percent, supported by lease expirations aligned with the academic calendar, a structure that historically maximizes leasing velocity and minimizes downtime. Two long-term leases extending to 2027 enhance predictability for new ownership. [2500 Olive....5 in) (1) | PDF]
Operational performance demonstrates strong underlying fundamentals. The asset produces approximately $84,768 in gross scheduled income with a stabilized NOI near $48,800 and an expense ratio around 40 percent, aligning with market expectations for well-maintained properties in this size range. Notably, embedded income upside exists through strategic realignment of select under-market rents, particularly where two-bedroom units show measurable gap to prevailing market levels. This value-add lever is both attainable and low-risk due to consistent local housing demand and limited nearby overbuilding. [2500 Olive....5 in) (1) | PDF]
With durable cash flow, proven occupancy patterns, and clear operational levers for future revenue growth, 2500 Olive Street stands as a compelling investment for 1031 exchange buyers, long-term holders, and regional multifamily investors seeking yield stability in a high-demand university marke