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519 N 3rd St 24 Unit Apartment Building $1,550,000 ($64,583/Unit) 7.34% Cap Rate Marshalltown, IA 50158
INVESTMENT HIGHLIGHTS
- Consistent unit configuration - 24 1 bed/1 bath units
- Appliances - stove, refrigerator & dishwasher, disposal included
- Located across 3 Avenue from Elk’s Park - Playground, gazebo, basketball court
- On-site community laundry
- Mix of hardwood and LVP flooring
EXECUTIVE SUMMARY
519–521 North 3rd Street is comprised of four buildings situated on 0.99 acres of land and contains a total of 24 units. The project offers the opportunity to acquire the asset with below market rents in-place, allowing a mark to market.
DATA ROOM Click Here to Access
- Offering Memorandum
PROPERTY FACTS
| Price | $1,550,000 | Building Class | C |
| Price Per Unit | $64,583 | Lot Size | 0.99 AC |
| Sale Type | Investment | Building Size | 13,527 SF |
| Cap Rate | 7.34% | Average Occupancy | 100% |
| No. Units | 24 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1998 |
| Property Subtype | Apartment | Parking Ratio | 0.74/1,000 SF |
| Apartment Style | Garden | ||
| Zoning | R-3 - High Density Residential | ||
| Price | $1,550,000 |
| Price Per Unit | $64,583 |
| Sale Type | Investment |
| Cap Rate | 7.34% |
| No. Units | 24 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.99 AC |
| Building Size | 13,527 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1998 |
| Parking Ratio | 0.74/1,000 SF |
| Zoning | R-3 - High Density Residential |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Cable Ready
- Dishwasher
- Disposal
- Storage Space
- Washer/Dryer
- Heating
- Ceiling Fans
- High Speed Internet Access
- Refrigerator
- Carpet
- Wi-Fi
- Dining Room
- Instant Hot Water
- Vinyl Flooring
SITE AMENITIES
- 24 Hour Access
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 24 | - | 560 |
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PROPERTY TAXES
| Parcel Number | 8418-26-176-051 | Improvements Assessment | $587,400 |
| Land Assessment | $53,610 | Total Assessment | $641,010 |
PROPERTY TAXES
Parcel Number
8418-26-176-051
Land Assessment
$53,610
Improvements Assessment
$587,400
Total Assessment
$641,010
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519 N 3rd St
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