64 Miller Ave SW - Apartments FOR SALE


Cedar Rapids, IA 52404- Lincolnway Village
$2,700,000 USD
319-777-8998
64 Miller Ave SW, Cedar Rapids, IA for Sale
$2,700,000 USD
Apartments - FOR SALE
1/9
null | 8.33% Cap Rate

64 Miller Ave SW
Cedar Rapids, IA 52404
Lincolnway Village


HIGHLIGHTS

  • This property was renovated in 2022 and almost every unit has been re-done. The current owners have spent several hundred thousand in renovations.
  • The 4 bedroom, 2 bath layout offers an opportunity both for college housing for Kirkwood Community College, and for families in the school district.
  • Built in 2000 and separately metered, you will save a ton in long term maintenance and capital expenses with this property over alternatives.

OVERVIEW

The KataLYST Team as part of KW Commercial is pleased to bring to market this multifamily property located at 60 & 64 Miller Avenue Southwest, Cedar Rapids, IA. This property was renovated in 2022 and almost every unit has been re-done. The current owners have spent several hundred thousand in updates and renovations since 2021. Rents still have more room for growth as the current owners were offering reduced rents during renovations to fill a large number of units at once. The 4 bedroom, 2 bath layout offers a unique opportunity both for college housing for Kirkwood Community College, and for families looking to get into the desirable College Community School District. This property was built in 2000 and updated since then. Each unit has it’s own furnace/AC and all utilities are separately metered. You will save a ton in long term maintenance and capital expenses with this property over some of the other options on the market.

FOR SALE DETAILS

PRICE

$2,700,000 USD

PRICE/SF

$74 USD /SF

# OF UNITS

30

PRICE/UNIT

$90,000

CAP RATE

8.33%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Miller Avenue Estates

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

2000

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.75 AC

LAND SF

32,670 SF

ZONING

Residential

APN/PARCEL ID

19094-01010-01014

ASK ABOUT THIS PROPERTY

Nick WallraffJared HusmannMore Info
319-777-8998

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Nick WallraffJared HusmannMore Info
319-777-8998

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