101-Unit Multifamily Portfolio
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101-Unit Multifamily Portfolio
3 Multifamily Properties Offered at $5,500,000 in Oelwein, IA
Investment Highlights
- 101 multifamily units, all located about a mile of each other
- The 3 properties are being offered as a portfolio but consideration will be made for individual sale.
- Substantial capital improvements have been made to exteriors and interiors of these communities
- Well positioned in a residential and neighborhood setting
- Varied unit mix of 1, 2, and 3 bedrooms, a clubhouse with a community center, exterior garages and more!
- Rents are under fair market value, and the competitive rental set. The new owner will be able to enjoy organic rent growth by raising rents at renewal
Executive Summary
CBRE is pleased to present the opportunity to acquire a 101-Unit apartment portfolio, located in Oelwein, Iowa, the largest City in Fayette County, and in the heart of northeastern Iowa. The 101-unit portfolio are all located within 1 mile of each other, positioned in a residential and neighborhood commercial setting proximity to grocers, shopping, schools, parks, dining & entertainment. Property is being sold as a portfolio for $5.5M, however, consideration will be made to sell each property individually, or as a smaller package.
Taxes & Operating Expenses (Pro forma - 2024) |
Annual |
|---|---|
| Gross Rental Income |
-
|
| Other Income |
-
|
| Vacancy Loss |
-
|
| Effective Gross Income |
-
|
| Net Operating Income |
$409,060
|
Taxes & Operating Expenses (Pro forma - 2024)
| Gross Rental Income | |
|---|---|
| Annual | - |
| Other Income | |
|---|---|
| Annual | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Effective Gross Income | |
|---|---|
| Annual | - |
| Net Operating Income | |
|---|---|
| Annual | $409,060 |
Property Facts
| Price | $5,500,000 | Number of Properties | 3 |
| Price / SF | $79.02 / SF | Individually For Sale | 0 |
| Sale Conditions | Bulk/Portfolio Sale | Total Building Size | 69,602 SF |
| Sale Type | Investment | Total Land Area | 11.68 AC |
| Status | Active |
| Price | $5,500,000 |
| Price / SF | $79.02 / SF |
| Sale Conditions | Bulk/Portfolio Sale |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 3 |
| Individually For Sale | 0 |
| Total Building Size | 69,602 SF |
| Total Land Area | 11.68 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
| 414 7th St SE, Oelwein, IA 50662 | Multifamily | 3,600 SF | 1977 | - |
|
Otter Creek Cottages
102 8th Ave NW, Oelwein, IA 50662 |
Multifamily | 37,050 SF | 1977 | - |
|
The Meadows Apartments
400 13th Ave NW, Oelwein, IA 50662 |
Multifamily | 28,952 SF | 1999 | - |
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101-Unit Multifamily Portfolio
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