This is a portfolio that has great opportunity with cash flow and CAP rate. Estimated cap rate currently is 7.6% and fully rented estimated rate is 18.01%. Included on one parcel is one 6-plex (821-31 Nebraska), one 4-plex (516-522 9th St) and one 3-plex (514 9th St). There are 10 - 3 bedroom apartments and 3 - 2 bedroom apartments. Many apartments have been recently updated with paint, electrical, misc. interior work and exterior work on the property. This includes privacy fences and security cameras. (Video and Audio). All three roofs were updated in the last 5 years. The owner pays water and heat (Boiler system) on the 6 unit property and 4 - unit property (Both Brick Units). The 3 plex has forced heat and owner ONLY pays water. There are currently 6 vacant apartments, with 5 ready to rent. These multiplexes are 2 story and 1 bathroom and a kitchen in each apartment. There are currently 2 units approved for section 8.
| Price | $695,000 |
|---|---|
| Bedrooms | 3 Beds |
| Bathrooms | 1 Full Bath |
| Property Type | Single Family |
| Listing # | 815985 |
| Status | Active |
| County | Woodbury |
| Listing Type | For Sale |
| Square Feet | 12,126 |
|---|---|
| Heating and Cooling | Forced Air, Radiant, Window |
| Exterior | Brick, Wood Lap |
|---|---|
| Roof | Shingle |
| Garage | None |
| Lot Size | 0.26 acres |
| MLS Area | Midtown |
|---|---|
| Garage Spaces | 0 |
Courtesy of Aaron Tyler, Keller Williams Siouxland
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Estimated taxes and insurance are not included. Sales price from MLS. Mortgage calculator source: NextHome, Inc.
