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- LoopNet Team
4815 1st Ave SW
Cedar Rapids, IA 52405
551 Unit Property Portfolio Only $53K P/U! · Multifamily Property For Sale
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551 Units
INVESTMENT HIGHLIGHTS
- Fantastic diversified portfolio in conservative rental market.
- Priced well below replacement cost.
- Very good condition.
PROPERTY FACTS
| No. Units | 551 | Building Size | 111,800 SF |
| Property Type | Multifamily | Average Occupancy | 98% |
| Property Subtype | Apartment | No. Stories | 3 |
| Apartment Style | Garden | Year Built | 1981 |
| Building Class | C | Parking Ratio | 1.5/1,000 SF |
| Lot Size | 2.30 AC | ||
| Zoning | Commercial | ||
| No. Units | 551 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 2.30 AC |
| Building Size | 111,800 SF |
| Average Occupancy | 98% |
| No. Stories | 3 |
| Year Built | 1981 |
| Parking Ratio | 1.5/1,000 SF |
| Zoning | Commercial |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Refrigerator
- Oven
- Tub/Shower
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Laundry Facilities
- Property Manager on Site
- Tenant Controlled HVAC
- Smoke Free
- Smoke Detector
ABOUT 4815 1ST AVE SW , CEDAR RAPIDS, IA 52405
Contact Darin for confidentiality and other agreements prior to reviewing information. Serious inquiries only. Portfolio will not be split. Purchase will need to be all properties. There is no agency financing in place or loans needing assumed. Majority of properties are B and C. Well maintained and managed portfolio with easy take over with very few capex items needed. Part owner is licensed broker. One property in the portfolio is a 100-unit HUD (HAP) contract property and another is a 32 unit LIHTC but all other properties are market rate. No owner financing. All parties will be completely vetted before information is shared so do be sure you are serious and have the ability to pull the trigger. Properties may be sold or withdrawn at any time.
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 4 | - | 600 |
| 2+1 | 56 | - | 700 |
| 3+2 | 20 | - | 850 |
| 4+2 | 20 | - | 1,000 |
PROPERTY TAXES
| Parcel Number | 13253-52002-00000 | Improvements Assessment | $6,768,500 |
| Land Assessment | $675,600 | Total Assessment | $7,444,100 |
PROPERTY TAXES
