220 28th Street Dr SE - Apartments FOR SALE


Cedar Rapids, IA 52403
$1,450,000 USD
515-689-2612
220 28th Street Dr SE, Cedar Rapids, IA for Sale
$1,450,000 USD
Apartments - FOR SALE
1/16
null | 8.42% Cap Rate

220 28th Street Dr SE
Cedar Rapids, IA 52403


HIGHLIGHTS

  • New Roof & Siding
  • Large floor plans
  • Nearby Retail Amenities

OVERVIEW

Stanbrough Realty Company is pleased to present the 28th St Apartments, 24 apartments & 12 garages in Cedar Rapids, IA. This brick-built building is located northeast of downtown Cedar Rapids, with several nearby retail amenities along 1st Ave, including but not limited to convenience stores, pharmacy, health and fitness, property management, and fast casual dining. Several large employers call Cedar Rapids home, including Collins Aerospace, Google, General Mills, and many educational universities and healthcare centers nearby. 28th St apartments manage the asset in-house and have spent the time and dollars minimizing overhead costs while maximizing the property's curb appeal. In 2021, the property received a new roof and new siding. More recently, the property received a new water heater and all new door locks. This The property is still ripe for new capital in the form of cosmetic updates to unit interiors and common hallways.

FOR SALE DETAILS

PRICE

$1,450,000 USD

PRICE/SF

$73 USD /SF

# OF UNITS

24

PRICE/UNIT

$60,417

CAP RATE

8.42%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1963

PARKING SPACES

30

LAND DETAILS

LAND ACRES

0.62 AC

LAND SF

26,977 SF

ZONING

-

APN/PARCEL ID

14142-02007-00000

ASK ABOUT THIS PROPERTY

Ross QuinteroHansen Real Estate Services, Inc.More Info
515-689-2612

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Ross QuinteroHansen Real Estate Services, Inc.More Info
515-689-2612

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.