Description
Exceptional investment opportunity! located in the thriving community of west burlington, iowa this newly constructed multifamily property features 9 luxury 2 bedroom, 2 bath condominium units. each residence has been meticulously designed to offer the pinnacle of modern living, promising both comfort and elegance. construction on these stunning units was completed in 2021. the property is currently fully leased. a monthly rent of $2,000 per unit, produces a gross rent of $216,000 annually, underpinned by a solid net operating income (noi) of $147,815, reflecting a desirable cap rate of approximately 6.16%. the property boasts low vacancy rates, thanks to its prime location and high-demand luxury accommodations. professional management is in place and willing to work with new owner. seller is licensed to sell real estate in the state of iowa.
Property Type
Duplex Side x SideCounty
Des MoinesStyle
Duplex Side x SideAD ID
48656234
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Property Details
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Interior Features
Bathroom Information
- Total Baths: 0
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Exterior Features
Building Information
- Built Year: 2021
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Property / Lot Details
Lot Information
- Lot Size (Acr): 0.2
- Dimensions: Horizontal Regime
Property Information
- Type: Duplex Side x Side
- City: West Burlington
- State: IA
- Directions: Turn off of Gear ave onto West Huston st. Take next left onto Layne Dr. duplexes are located on the right side of the road.
- Property Status: Active
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Listing Information
Listing Price Information
- Original List Price: $2,290,000
- Price Per SQFT: $1,709
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Taxes / Assessments
Tax Information
- Annual Tax: $35262
- Tax Year: 2021
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School, Utilities & Location Details
School Information
- Elementary School District: 6937 - West Burlington ISD
- High School District: 6937 - West Burlington ISD
- Middle School District: 6937 - West Burlington ISD
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All listings featuring the "Iowa AOR" as the source are provided by "Iowa AOR - IAMLS". This information is not verified for authenticity or accuracy and is not guaranteed.
BuyOwner last updated this listing 02/22/2025 @ 01:53
- MLS: 6325070
- LISTING PROVIDED COURTESY OF: ,
- SOURCE: Iowa AOR - IAMLS
is a Multifamily, with 0 bedrooms which is for sale, it has 1,340 sqft, 8,712 sized lot, and 0 parking. A comparable Multifamily, has bedrooms and baths, it was built in and is located at and for sale by its owner at . This home is located in the city of West Burlington , in zip code 52655, this Des Moines County Multifamily , it is in the IA Subdivision, are nearby neighborhoods.