A great opportunity to add to your investment portfolio! This fully leased fourplex offers an attractive cap rate and an annual NOI of over $20, 000. The property features two one-bedroom units, two efficiency units, and a large garage that is leased separately. All four units are currently occupied with month-to-month leases, providing flexibility for the next owner. Current monthly rents are $600, $700, $700, and $795, with an additional $100 per month for the garage. Utilities are collectively metered and currently paid by the landlord. All showings require a minimum of 48 hours’ notice. Property is being sold in “as-is” condition.
A great opportunity to add to your investment portfolio! This fully leased fourplex offers an attractive cap rate and an annual NOI of over $20, 000. The property features two one-bedroom units, two efficiency units, and a large garage that is leased separately. All four units are currently occupied with month-to-month leases, providing flexibility for the next owner. Current monthly rents are $600, $700, $700, and $795, with an additional $100 per month for the garage. Utilities are collectively metered and currently paid by the landlord. All showings require a minimum of 48 hours’ notice. Property is being sold in “as-is” condition.
1320 1st Avenue Nw, Cedar Rapids, Iowa 52405
1320 1st Avenue Nw, Cedar Rapids, Iowa 52405
- Lot Area: 0.16 Acre
Q4 Agents
JASON ROGERS
Broker
1950 Boyson Road Hiawatha, Iowa 52233
CRAIG BYERS
Realtor, CCIM
1950 Boyson Road Hiawatha, Iowa 52233
AUSTIN GEASLAND
Realtor
1950 Boyson Road Hiawatha, Iowa 52233