For Sale
$334,500
117 Rapids Ave Cedar Rapids, IA 52404
Five-unit apartment building, strong NOI.
Overview
- Added:
- Dec 11, 2024
- Days on market:
- 132
Highlights
- Well-maintained, two-story, 5,040 sq ft multi-family building in Cedar Rapids, IA.
- Five (5) large 2 bed/1 bath units, currently 80% occupied, renting at $575/month.
- $334,500 asking price ($66,900 per unit); $15,770 current NOI, $26,594 pro-forma NOI.
- New roof (2020), newer boiler & water heater, four (4) garages on a 0.353-acre lot.
- Multi-family zoning, self-managed, significant upside potential for rental increases.
Property Details for 117 Rapids Ave
- Property type
- Apartment buildings
- Square Feet
- 5,040 SF
- Class
- C
- Year Built
- 1948
- Buildings
- 1
- Stories
- 2
- Lot Size (sq. ft)
- 15,377 SF
- Units
- 5
Location Insight
- City
- Cedar Rapids
- County
- Linn
- State
- Iowa
- Latitude
- 41.9597111
- Longitude
- -91.6566187
Nearby Similar for Sale
FAQs
- What type of property is this?
- Apartment building - Five-unit apartment building, strong NOI.
- Where is the apartment building located?
- The property is located at 117 Rapids Ave Cedar Rapids, IA.
- What is the asking price?
- The asking price for this property is $334,500.
- What are key features of this property?
- This property features: Well-maintained, two-story, 5,040 sq ft multi-family building in Cedar Rapids, IA.; Five (5) large 2 bed/1 bath units, currently 80% occupied, renting at $575/month.; $334,500 asking price ($66,900 per unit); $15,770 current NOI, $26,594 pro-forma NOI.
- How can I contact the broker?
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