2,748 SqFt
2,748 SqFt
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Pending
Purchase Type For Sale
Square Footage 2,748 sqft
Price per Sqft $54
MLS Listing ID 2501792
HOA Y/N No
Total Fin. Sqft 2748
Year Built 1898
Annual Tax Amount $1,994
Lot Size 5,619 Sqft
Acres 0.129
Property Sub-Type Multi Family
Property Description
This fully rented property generates $34,740 gross annual income, offering a projected 20% cap rate at the current price point. The unit mix includes two 1-bedroom and two 2-bedroom apartments, appealing to a broad tenant base. Recent updates include a new roof and interior improvements, supporting long-term stability. Tenants are on month-to-month leases, providing flexibility for future rent adjustments. Located in Cedar Rapids' MedQuarter district near major employers and downtown amenities, this asset combines affordability, strong returns, and long-term potential. Firm at $150,000 – priced to sell.
Location
State IA
County Linn
Area Se Quadrant
Zoning Res
Rooms
Other Rooms Shed(s)
Basement Crawl Space
Interior
Interior Features Storage
Heating Forced Air, Gas
Cooling Wall/Window Unit(s)
Fireplace No
Laundry Common Area
Exterior
Utilities Available Separate Meters
Water Access Desc Public
Garage Yes
Building
Sewer Public Sewer
Water Public
Additional Building Shed(s)
Structure Type Frame,Wood Siding
Schools
Elementary Schools Grant
Middle Schools Mckinley
High Schools Washington
Others
Tax ID 142228301600000
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Virtual Tour https://www.propertypanorama.com/instaview/cdr/2501792
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