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Lincoln Apartments 520 S 5th Ave E 6 Unit Apartment Building $350,000 ($58,333/Unit) 8.02% Cap Rate Newton, IA 50208
Investment Highlights
- New roof in 2023
- Resurfaced driveway in 2024
Executive Summary
Lincoln Apartments can be acquired as part of a larger 22-unit portfolio all located in Newton, Iowa.
Address: 520 S 5th Ave E, Newton, IA
List Price: $350,000
Cap Rate: 8.02%
Year Built: 1979
Number of Units: 6
Unit Mix: 1-1BR/1BA; 5-2BR/1BA
Total Building SF: 4,426
Parcel Size: 0.31 acres
Recent capital improvements include a new roof in 2023 and resurfaced driveway in 2024
Please click here for more information: https://www.cbredealflow.com/buyer/agreement?pv=Y6dyzR_TxENZHhCOXhvsyufL3pgyW-9xzLwHbgmkZoMAXqUQSPzx-_ix9_V-_g9_
Construction: Wood frame
Foundation: Concrete
Exterior Materials: Brick
Windows: Metal
Roof: Asphalt shingled
Laundry: Common area (1 set)
Heating: Electric baseboard
Cooling: Sleeve A/C
Water Heater: Individual
Residents pay for electricity directly, 100% of water and sewer invoices are billed back based on number of units and occupants, and trash and pest are billed back at a flat fee
Address: 520 S 5th Ave E, Newton, IA
List Price: $350,000
Cap Rate: 8.02%
Year Built: 1979
Number of Units: 6
Unit Mix: 1-1BR/1BA; 5-2BR/1BA
Total Building SF: 4,426
Parcel Size: 0.31 acres
Recent capital improvements include a new roof in 2023 and resurfaced driveway in 2024
Please click here for more information: https://www.cbredealflow.com/buyer/agreement?pv=Y6dyzR_TxENZHhCOXhvsyufL3pgyW-9xzLwHbgmkZoMAXqUQSPzx-_ix9_V-_g9_
Construction: Wood frame
Foundation: Concrete
Exterior Materials: Brick
Windows: Metal
Roof: Asphalt shingled
Laundry: Common area (1 set)
Heating: Electric baseboard
Cooling: Sleeve A/C
Water Heater: Individual
Residents pay for electricity directly, 100% of water and sewer invoices are billed back based on number of units and occupants, and trash and pest are billed back at a flat fee
Property Facts
| Price | $350,000 | Apartment Style | Low-Rise |
| Price Per Unit | $58,333 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.31 AC |
| Cap Rate | 8.02% | Building Size | 4,426 SF |
| No. Units | 6 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1979 |
| Price | $350,000 |
| Price Per Unit | $58,333 |
| Sale Type | Investment |
| Cap Rate | 8.02% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.31 AC |
| Building Size | 4,426 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1979 |
Amenities
Unit Amenities
- Air Conditioning
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 1 | - | - |
| 2+1 | 5 | - | - |
1 1
Property Taxes
| Parcel Number | 08-34-254-018 | Improvements Assessment | $223,520 |
| Land Assessment | $20,050 | Total Assessment | $243,570 |
Property Taxes
Parcel Number
08-34-254-018
Land Assessment
$20,050
Improvements Assessment
$223,520
Total Assessment
$243,570
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Lincoln Apartments | 520 S 5th Ave E
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