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Archived about 3 years ago

$3,000,000

rooms 1 ba

2939 12th Ave SW, Cedar Rapids, IA 52404

Commercial Multifamily Occupied Needs Repairs

Current Rent **

$10,000+

Projected Rent **

$10,000+

Estimated Cap Rate *

Pro Only

Estimated Cash on Cash ROI *

Pro Only

Posted By:

Tyler Rasmussen

Investor
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77 Unit in Cedar Rapids Iowa, C class property

This 77 unit apartment complex is a great opportunity for investors looking to add value to their portfolio. The complex is currently in high vacancy (18%), but with some capital infusion, it could be a very profitable investment. The current ownership group doesn't have the capital to get this turned around.

The complex is located in a prime location in Cedar Rapids, Iowa. It is close to shopping, dining, and entertainment options. The complex is also close to major employers.

The complex is currently in need of some renovation. The units are outdated and in need of updating. The common areas are also in need of some repairs.

There are 17 efficiencies, 56 one bedroom, and 4 two bedroom units. There is also an office space.

Tenants pay their own electric and gas. Landlord currently pays water and trash. Water could be put on RUBs and charged back to tenants.

This is a great opportunity for investors looking to add value to their portfolio. The complex is located in a prime location and it has the potential to be a very profitable investment.

Contact us today to learn more about this investment opportunity. Serious inquiries only please.

Location:

2939 12th Ave SW, Cedar Rapids, IA 52404

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* The cap rate and cash on cash return calculations found on BiggerPockets Listings are estimated and designed to be used for informational and educational purposes only, and when used alone, do not constitute investment advice. They assume 3 months worth of expenses and estimate taxes and insurance. BiggerPockets recommends that you seek the advice of a real estate professional before making any type of investment. The results presented may not reflect the actual return of your own investments. BiggerPockets is not responsible for the consequences of any decisions or actions taken in reliance upon or as a result of the information provided by these tools. Furthermore, BiggerPockets is not responsible for any human or mechanical errors or omissions.

** Current rent and projected rent are provided by the lister.

† Rental comps are pulled by looking at property characteristics (beds, baths, structure type), date the rent listing was captured, and proximity to the searched location.

‡ Confidence levels range from low to very high. Confidence is determined by the number of recent and relevant comparable properties for any given search. A very high confidence level indicates a high number of recent and similar rental listings.