543 Mill StCouncil Bluffs, IA 51503

Property Details for 543 Mill St

Year built

1900

Construction

FRAME

Lot size

0.12 AC

Property size (Sq ft)

1,286 SF

Zone code

R-3

Property type

Apartment buildings

APN

7544 25 383 005

APU

754425383005

Description

This exceptional Class A, stabilized multifamily investment property located at 543 Mill St, Council Bluffs, IA 51503, presents a compelling opportunity. The property, a two-story building, comprises six units, each boasting a recently renovated interior. The complete renovation in 2024 included brand new electrical, plumbing, and HVAC systems, ensuring minimal maintenance and long-term cost efficiency. The 100% occupancy rate speaks to the desirability of the units, which are designed to appeal to discerning tenants. A new water line has been installed, eliminating potential future infrastructure concerns. The property also features coin-operated laundry facilities, adding convenience for residents and generating additional income. Situated in a prime downtown location, this investment aligns perfectly with Council Bluffs' ongoing growth and development. The asking price is $490,000, representing a price per unit of $81,666.67. This represents a strong value proposition for investors seeking a hassle-free, high-return investment in a thriving Iowa market. The property's modern amenities and strategic location promise consistent rental income and significant equity potential. This is a turnkey opportunity not to be missed.

• CAP approach

  CAP return

  Valuation

  6%

  $295,787

  6.5%

  $273,034

  7%

  $253,532

• Comparable approach

  Method

  Valuation

  Relative Method

  $101,738

  Geo Method

  $101,738

• Alternative Use

  Use

  Valuation

  Residential

  $273,034

  Hospitality

  $250,098

  Educational

  $208,079

  Medical

  $215,235

  Retail

  $323,678

Location Insight

City

Council Bluffs

County

Pottawattamie

State

Iowa

Latitude

41.2636

Longitude

-95.8508

CBSA code

36540

CBSA name

OMAHA-COUNCIL BLUFFS, NE-IA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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