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The Willow Apartments 611 W Van Weiss Blvd 48 Unit Apartment Building $2,795,000 ($58,229/Unit) 9.04% Cap Rate West Burlington, IA 52655
Investment Highlights
- 95% Occupied
- Exceptional location
- 11 of the 48 units have been renovated
- Cap Rate: 9.04%
Executive Summary
CBRE is pleased to offer The Willow Apartments, a 48-unit property located in West Burlington, Iowa. West Burlington (population: 3,184) is adjacent to Burlington which has a population of 23,637. The property is located just off HWY 34 and within a mile of major retailers such as Target, Menard’s, Lowe’s, Kohl’s, Walmart, Hy-Vee, Hobby Lobby, Dicks Sporting Goods, and Starbucks.
The property consists of seven brick buildings built in 1994, featuring 40 2-bedroom, 1-baths and 8 3-bedroom, 2-baths. 11 of the 48 units have been renovated.
List Price: $2,795,000
Cap Rate: 9.04%
Year Built: 1994
Number of Units: 48
Unit Mix: 40-2BR/1BA; 8-3BR/2BA
Occupancy: 95%
Total Building SF: 39,200
Avg. In Place Rent: $783
Renovated Units: 11
Please click here for more information: https://www.cbredealflow.com/buyer/agreement?pv=zZLzKkdX1B7G7GLq_8HK-ZKLr3YMRpTU8bRWgyA5b5Yz3bufYAuTSi6nTjo2WWw7
The property consists of seven brick buildings built in 1994, featuring 40 2-bedroom, 1-baths and 8 3-bedroom, 2-baths. 11 of the 48 units have been renovated.
List Price: $2,795,000
Cap Rate: 9.04%
Year Built: 1994
Number of Units: 48
Unit Mix: 40-2BR/1BA; 8-3BR/2BA
Occupancy: 95%
Total Building SF: 39,200
Avg. In Place Rent: $783
Renovated Units: 11
Please click here for more information: https://www.cbredealflow.com/buyer/agreement?pv=zZLzKkdX1B7G7GLq_8HK-ZKLr3YMRpTU8bRWgyA5b5Yz3bufYAuTSi6nTjo2WWw7
Property Facts
| Price | $2,795,000 | Building Class | C |
| Price Per Unit | $58,229 | Lot Size | 2.44 AC |
| Sale Type | Investment | Building Size | 39,200 SF |
| Cap Rate | 9.04% | Average Occupancy | 98% |
| No. Units | 48 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1994 |
| Property Subtype | Apartment | Parking Ratio | 1.91/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | R4 - Residential | ||
| Price | $2,795,000 |
| Price Per Unit | $58,229 |
| Sale Type | Investment |
| Cap Rate | 9.04% |
| No. Units | 48 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 2.44 AC |
| Building Size | 39,200 SF |
| Average Occupancy | 98% |
| No. Stories | 2 |
| Year Built | 1994 |
| Parking Ratio | 1.91/1,000 SF |
| Zoning | R4 - Residential |
Amenities
Unit Amenities
- Air Conditioning
- Heating
Site Amenities
- 24 Hour Access
- Playground
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 40 | - | 792 |
| 3+1 | 8 | - | 940 |
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Property Taxes
| Parcel Number | 10-35-428-009 | Improvements Assessment | $2,189,800 |
| Land Assessment | $170,800 | Total Assessment | $2,360,600 |
Property Taxes
Parcel Number
10-35-428-009
Land Assessment
$170,800
Improvements Assessment
$2,189,800
Total Assessment
$2,360,600
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The Willow Apartments | 611 W Van Weiss Blvd
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