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920 High St 5 Unit Apartment Building $334,900 ($66,980/Unit) 8.73% Cap Rate Grinnell, IA 50112
Executive Summary
Multi-family house with individual 5 units. Typically rented to college students. This property is located a block and half from the college and walking distance to downtown. starting from the bottom up, the basement has two - 1 bedroom/1 bath apartments. The main floor has one apartment with 2-3 bedrooms and 1 bath. The second floor has one - 1 bedroom/ 1 bath apartment. The second/third floor has one - 2-3 bedroom/1 bath apartment. In the back basement there is a coin operated washer and dryer. There is also a detached 2 car garage that could also be rented out.
New roof, gutter and fascia on both the house and garage, new rubber roof on front porch and new siding from the hail storm in 2023.
Grinnell in centrally located on I80 between Des Moines and Iowa City.
New roof, gutter and fascia on both the house and garage, new rubber roof on front porch and new siding from the hail storm in 2023.
Grinnell in centrally located on I80 between Des Moines and Iowa City.
Property Facts
| Price | $334,900 | Building Class | B |
| Price Per Unit | $66,980 | Lot Size | 0.28 AC |
| Sale Type | Investment | Building Size | 3,247 SF |
| Cap Rate | 8.73% | Average Occupancy | 100% |
| Gross Rent Multiplier | 8 | No. Stories | 4 |
| No. Units | 5 | Year Built | 1900 |
| Property Type | Multifamily | Opportunity Zone |
Yes
|
| Property Subtype | Apartment |
| Price | $334,900 |
| Price Per Unit | $66,980 |
| Sale Type | Investment |
| Cap Rate | 8.73% |
| Gross Rent Multiplier | 8 |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | B |
| Lot Size | 0.28 AC |
| Building Size | 3,247 SF |
| Average Occupancy | 100% |
| No. Stories | 4 |
| Year Built | 1900 |
| Opportunity Zone |
Yes |
Amenities
Site Amenities
- 24 Hour Access
- Laundry Service
- Walk To Campus
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 9+5 | 5 | $2,495 | - |
1 1
Fairly walkable
40/100
Moderately drivable
70/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 180-0516000 | Improvements Assessment | $239,790 |
| Land Assessment | $31,200 | Total Assessment | $270,990 |
Property Taxes
Parcel Number
180-0516000
Land Assessment
$31,200
Improvements Assessment
$239,790
Total Assessment
$270,990
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920 High St