For Sale
$2,290,000
619 Layne Dr West Burlington, IA 52655
9-Unit Luxury Condo Building, High NOI
Overview
- Added:
- Dec 11, 2024
- Days on market:
- 132
Highlights
- Exceptional investment opportunity: 9-unit, Class A multifamily property in West Burlington, IA.
- 2021 construction; nine luxury 2-bed/2-bath condos, each 1,340 sq ft.
- Fully leased, generating $216,000 gross annual rent ($2,000/unit).
- Strong NOI of $147,815, 6.16% cap rate.
- Turnkey operation with professional management in place.
- Located at 619 Layne Dr, West Burlington, IA 52655 (APN: 10-35-178-025); 0.2-acre lot.
Property Details for 619 Layne Dr
- Property type
- Apartment buildings
- Square Feet
- 1,340 SF
- Class
- A
- Year Built
- 2021
- Lot Size (sq. ft)
- 8,712 SF
- Units
- 9
Location Insight
- City
- West Burlington
- County
- Des Moines
- State
- Iowa
- Latitude
- 40.8200136
- Longitude
- -91.1746686
Nearby Similar for Sale
FAQs
- What type of property is this?
- Apartment building - 9-Unit Luxury Condo Building, High NOI
- Where is the apartment building located?
- The property is located at 619 Layne Dr West Burlington, IA.
- What is the asking price?
- The asking price for this property is $2,290,000.
- What are key features of this property?
- This property features: Exceptional investment opportunity: 9-unit, Class A multifamily property in West Burlington, IA.; 2021 construction; nine luxury 2-bed/2-bath condos, each 1,340 sq ft.; Fully leased, generating $216,000 gross annual rent ($2,000/unit).
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