6620 Preston Terrace Ct - Apartments FOR SALE


Cedar Rapids, IA 52404- Lincolnway Village
$6,700,000 USD
319-229-1003
6620 Preston Terrace Ct, Cedar Rapids, IA for Sale
$6,700,000 USD
Apartments - FOR SALE
1/5
null | 7.81% Cap Rate

6620 Preston Terrace Ct
Cedar Rapids, IA 52404
Lincolnway Village


OVERVIEW

The Eagle’s Nest Apartments are a 5 – building, 33 – Unit / 131 – bedroom apartment community located next to Kirkwood Community College. The property is currently rented by the bedroom, appealing to students, and features two different floor plans: 4 bed / 4 bath & 4 bed / 2 bath. The 6620 Preston Ct. SW building was constructed in 2022 and the other 4 buildings were constructed in 2004. The 6630 building includes an onsite office. All units have been updated and remodeled. Units feature all-inclusive utilities (including electricity, gas, and water), washer & dryer in unit, 100 mbps internet, new appliances, dishwasher, stove, refrigerator, gas furnace with central AC, lawn-care & snow removal. This provides a high-end living experience at an affordable and attractive price to students. Amenities: TWO FLOOR PLANS: 4bd / 4ba & 4bd / 2ba, LAUNDRY IN EACH UNIT, NEW APPLIANCES - STOVE, REFRIGERATOR & DISHWASHER INCLUDED, PRIVATE PATIO FOR EACH UNIT, INDIVIDUAL EXTERIOR ENTRANCE FOR EACH UNIT, ACROSS STREET FROM KIRKWOOD COMMUNITY COLLEGE, GAS FURNACE WITH CENTRAL AC, HIGH SPEED INTERNET, ALL UTILITIES, LAWN AND SNOW REMOVAL INCLUDED, ADJACENT TO SCOOTERS COFFEE & JIMMY JOHNS, EASY ACCESS TO HWY 3O AND I-380

FOR SALE DETAILS

PRICE

$6,700,000 USD

PRICE/SF

$28 USD /SF

# OF UNITS

33

PRICE/UNIT

$203,030

CAP RATE

7.81%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Eagle's Nest Apartments

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

2022

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.29 AC

LAND SF

56,014 SF

ZONING

-

APN/PARCEL ID

19161-77002-01000

ASK ABOUT THIS PROPERTY

Josh SeamansCushman & Wakefield | Iowa Commercial AdvisorsMore Info
319-229-1003

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Josh SeamansCushman & Wakefield | Iowa Commercial AdvisorsMore Info
319-229-1003

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