$985,467
$1,025,000
3.9%For more information regarding the value of a property, please contact us for a free consultation.
SOLD DATE : 10/10/2024
Key Details
Sold Price $985,467
Property Type Multi-Family
Sub Type Multi Family
Listing Status Sold
Purchase Type For Sale
Subdivision Uk
MLS Listing ID 202401498
Sold Date 10/10/24
HOA Y/N No
Abv Grd Liv Area 7,874
Year Built 1972
Annual Tax Amount $10,684
Tax Year 2023
Lot Dimensions 1.3 Acres
Property Sub-Type Multi Family
Property Description
An 18-unit multi-family apartment complex is available for purchase. The building comprises 14 two-bedroom units and four one-bedroom units. The property offers several opportunities to add value for a new owner. Rents have been increasing steadily, and there is still ample room for further growth. Six detached garages are available to tenants who require covered parking. Additionally, there is a large vacant lot next to the building that can accommodate another 12 units. The property features a metal roof and newer utilities. A brand-new laundry facility was recently installed, and the lower level has plenty of storage space available for the owner to rent out.
Location
State IA
County Jones
Zoning RES
Direction Heading north on Highway 151 from Cedar Rapids, take exit 63 for US-151 BUS/Amber Rd. Turn left onto US-151 BUS N/S Main St for 1.1 miles.
Rooms
Basement Finished
Interior
Interior Features Other
Heating Electric, Baseboard
Cooling Window Units
Flooring Carpet, Vinyl, Tile, Laminate
Fireplaces Type None
Appliance Range Or Oven, Refrigerator, Dryer, Microwave, Washer
Laundry Laundry Room, In Basement
Exterior
Exterior Feature Balcony
Parking Features Detached Carport, Guest, Off Street
Community Features Sidewalks, Street Lights
Utilities Available City Sewer, City Water
Building
Lot Description One To Two Acres
Structure Type Vinyl,Frame
New Construction No
Schools
Elementary Schools Monticello
Middle Schools Monticello
High Schools Monticello
Others
HOA Fee Include None
Tax ID 0227303021
Acceptable Financing Exchange1031, Cash, Conventional
Listing Terms Exchange1031, Cash, Conventional
Special Listing Condition Standard
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Bought with NONMEMBER
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