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Mapleleaf Apartments 704 E Mapleleaf Dr 48 Unit Apartment Building $2,700,000 ($56,250/Unit) 8.59% Cap Rate Mount Pleasant, IA 52641
INVESTMENT HIGHLIGHTS
- 100% Project Based Section 8 Option 2 HAP contract
- Walking distance to several major employers
- Last NSPIRE inspection score was 97
EXECUTIVE SUMMARY
CBRE is pleased to offer the opportunity to acquire Mapleleaf Apartments, a 48-unit apartment community located in Mount Pleasant, Iowa. Mt. Pleasant is home to numerous agriculture, manufacturing, and logistics companies and located at the junction of Hwy 34 and Hwy-218 in Southeast Iowa, 50 miles directly south of Iowa City. This property is owned and well-maintained by the original developer.
The property is located within a 5-minute drive to major employers including Walmart Distribution Center, Walmart Supercenter, Hearth & Home Technologies, Continental, Cornerstone Building Brands, Beck’s Hybrids, Golden Eye Distributing Company, and Innovairre.
Mapleleaf Apartments is a senior or disabled designated 100% Project Based Section 8 community with 5 years remaining on an Option 2 HAP contract. The last NSPIRE inspection was conducted 5/7/2025 and scored a 97.
Please click here for more information: https://www.cbredealflow.com/buyer/agreement?pv=BlvyHeRmV_hDLE_0W-LsOGYPQ8OQZ30aTh_LOX6Y1q3-Ka2hVEbeebdvnrHvheRs
The property is located within a 5-minute drive to major employers including Walmart Distribution Center, Walmart Supercenter, Hearth & Home Technologies, Continental, Cornerstone Building Brands, Beck’s Hybrids, Golden Eye Distributing Company, and Innovairre.
Mapleleaf Apartments is a senior or disabled designated 100% Project Based Section 8 community with 5 years remaining on an Option 2 HAP contract. The last NSPIRE inspection was conducted 5/7/2025 and scored a 97.
Please click here for more information: https://www.cbredealflow.com/buyer/agreement?pv=BlvyHeRmV_hDLE_0W-LsOGYPQ8OQZ30aTh_LOX6Y1q3-Ka2hVEbeebdvnrHvheRs
PROPERTY FACTS
| Price | $2,700,000 | Apartment Style | Low-Rise |
| Price Per Unit | $56,250 | Building Class | C |
| Sale Type | Investment | Lot Size | 1.75 AC |
| Cap Rate | 8.59% | Building Size | 71,682 SF |
| No. Units | 48 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1979 |
| Property Subtype | Apartment |
| Price | $2,700,000 |
| Price Per Unit | $56,250 |
| Sale Type | Investment |
| Cap Rate | 8.59% |
| No. Units | 48 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 1.75 AC |
| Building Size | 71,682 SF |
| No. Stories | 3 |
| Year Built | 1979 |
AMENITIES
UNIT AMENITIES
- Heating
- Kitchen
- Range
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 48 | - | - |
1 1
PROPERTY TAXES
| Parcel Number | 412081010100200 | Improvements Assessment | $1,396,640 |
| Land Assessment | $123,750 | Total Assessment | $1,520,390 |
PROPERTY TAXES
Parcel Number
412081010100200
Land Assessment
$123,750
Improvements Assessment
$1,396,640
Total Assessment
$1,520,390
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Mapleleaf Apartments | 704 E Mapleleaf Dr
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