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Newbury Village 2645 Newbury Cir 81 Unit Apartment Building $5,300,000 ($65,432/Unit) 7.07% Cap Rate Burlington, IA 52601
Investment Highlights
- Stable, Long-Term Ownership Since 2015 Ensuring Operational Continuity
- $100+ Per Unit Rent Upside via LVP Flooring and Updated Appliances
- Strategically Located Near Major Retailers with Strong Connectivity
- Comprehensive, Functional Amenities Driving Resident Retention
- Attractive Mix of Mostly Townhome Style Units
- Offered Free and Clear of Existing Debt
Executive Summary
MMG Real Estate Advisors is pleased to present the opportunity to acquire Newbury Village, an 81-unit multifamily community located in Burlington, Iowa. Built in 1978 and renovated in 2006, the property offers a highly attractive mix of predominantly townhome-style units with private entrances and full-size in-unit laundry. Newbury
Village Townhomes & Apts benefits from a strong amenity package, stable renter demographics, and a proven path for rental upside through light cosmetic upgrades.
Village Townhomes & Apts benefits from a strong amenity package, stable renter demographics, and a proven path for rental upside through light cosmetic upgrades.
Financial Summary (Pro Forma - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro Forma - 2025) 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 | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $5,300,000 | Building Class | B |
| Price Per Unit | $65,432 | Lot Size | 11.35 AC |
| Sale Type | Investment | Building Size | 67,333 SF |
| Cap Rate | 7.07% | Average Occupancy | 98% |
| No. Units | 81 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1978/2006 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Townhome | ||
| Zoning | R4 - Residential | ||
| Price | $5,300,000 |
| Price Per Unit | $65,432 |
| Sale Type | Investment |
| Cap Rate | 7.07% |
| No. Units | 81 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Townhome |
| Building Class | B |
| Lot Size | 11.35 AC |
| Building Size | 67,333 SF |
| Average Occupancy | 98% |
| No. Stories | 2 |
| Year Built/Renovated | 1978/2006 |
| Opportunity Zone |
Yes |
| Zoning | R4 - Residential |
Amenities
- Smoke Detector
Unit Amenities
- Air Conditioning
- Cable Ready
- Microwave
- Storage Space
- Washer/Dryer
- Heating
- Ceiling Fans
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Yard
- Deck
- Dining Room
- Family Room
- Lawn
- Linen Closet
- Smoke Free
- Window Coverings
- Large Bedrooms
Site Amenities
- Business Center
- Controlled Access
- Clubhouse
- Courtyard
- Fitness Center
- Laundry Facilities
- Picnic Area
- Playground
- Property Manager on Site
- Package Service
- Pet Play Area
- Wi-Fi
- Storage Space
- Bicycle Storage
- Lounge
- Maintenance on site
- Multi Use Room
- Sundeck
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 64 | $745.00 | 780 - 900 |
| 3+1.5 | 17 | $901.50 | 900 - 1,100 |
1 1
Property Taxes
| Parcel Number | 11-31-376-014 | Improvements Assessment | $4,108,300 |
| Land Assessment | $563,700 | Total Assessment | $4,672,000 |
Property Taxes
Parcel Number
11-31-376-014
Land Assessment
$563,700
Improvements Assessment
$4,108,300
Total Assessment
$4,672,000
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Newbury Village | 2645 Newbury Cir
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