204 3rd St SW
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204 3rd St SW
8 Unit Block of Flats £255,277 (£31,910/Unit) 10.83% Net Initial Yield Rake, IA 50465
Executive Summary
Turnkey 8-unit apartment with positive cashflow on Day 1 and additional upside. The deal includes two 4-unit buildings side-by-side on a 1.74 acrelot. All units have received recent updates including fresh paint, new flooring, and new plumbing. Many also have new kitchen cabinets and bathroom updates. Goodtenants with in-house management in a nice, stable small town. Room for increasing rents without major updates. Call today for a showing!
Property Facts
| Price | £255,277 | Apartment Style | Low Rise |
| Price Per Unit | £31,910 | Building Class | C |
| Sale Type | Investment | Lot Size | 1.74 AC |
| Net Initial Yield | 10.83% | Building Size | 5,803 SF |
| No. Units | 8 | Average Occupancy | 100% |
| Property Type | Residential | Number of Floors | 1 |
| Property Subtype | Apartment | Year Built | 1970 |
| Price | £255,277 |
| Price Per Unit | £31,910 |
| Sale Type | Investment |
| Net Initial Yield | 10.83% |
| No. Units | 8 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 1.74 AC |
| Building Size | 5,803 SF |
| Average Occupancy | 100% |
| Number of Floors | 1 |
| Year Built | 1970 |
Unit Amenities
- Heating
- Eat-in Kitchen
- Kitchen
- Refrigerator
- Tub/Shower
- Carpet
- Yard
- Vinyl Flooring
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| 2+1 | 4 | £411.23 | - |
| 1+1 | 4 | £332.90 | - |
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PROPERTY TAXES
| Parcel Number | 0116177001 | Improvements Assessment | £104,680 |
| Land Assessment | £8,702 | Total Assessment | £113,383 |
PROPERTY TAXES
Parcel Number
0116177001
Land Assessment
£8,702
Improvements Assessment
£104,680
Total Assessment
£113,383
zoning
| Zoning Code | Residential (Multifamily) |
| Residential (Multifamily) |
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First Choice Realty
204 3rd St SW
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