Grand Avenue | 990 Grand Ave
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Grand Avenue 990 Grand Ave
8 Unit Apartment Building $355,000 ($44,375/Unit) 7.32% Cap Rate Marion, IA 52302
Executive Summary
Check out this 8 studio unit property on the south side of Marion, IA!
This property is located perfectly for tenant convenience.
3 units have been remodeled along with the common areas. Floor, paint, and fixtures.
100% occupied!
Please request showing 48 hours prior to desired showing date/time.
With any questions, please contact Isaiah Garman: 319-540-9070 or isaiah@heartlandcondos.com
Sale is subject to seller 1031 exchange.
Close to occur before Jan. 1
One owner is licensed real estate broker.
This property is located perfectly for tenant convenience.
3 units have been remodeled along with the common areas. Floor, paint, and fixtures.
100% occupied!
Please request showing 48 hours prior to desired showing date/time.
With any questions, please contact Isaiah Garman: 319-540-9070 or isaiah@heartlandcondos.com
Sale is subject to seller 1031 exchange.
Close to occur before Jan. 1
One owner is licensed real estate broker.
Financial Summary (Actual - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
-
|
-
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $355,000 | Apartment Style | Garden |
| Price Per Unit | $44,375 | Building Class | C |
| Sale Type | Investment | Lot Size | 2.47 AC |
| Cap Rate | 7.32% | Building Size | 8,000 SF |
| Sale Conditions | 1031 Exchange | Average Occupancy | 100% |
| No. Units | 8 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1976 |
| Property Subtype | Apartment |
| Price | $355,000 |
| Price Per Unit | $44,375 |
| Sale Type | Investment |
| Cap Rate | 7.32% |
| Sale Conditions | 1031 Exchange |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 2.47 AC |
| Building Size | 8,000 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1976 |
Unit Amenities
- Air Conditioning
- Heating
- Refrigerator
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 8 | $550.00 | 413 |
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PROPERTY TAXES
| Parcel Number | 14014-85016-00000 | Improvements Assessment | $225,000 (2023) |
| Land Assessment | $34,300 (2023) | Total Assessment | $259,300 (2023) |
PROPERTY TAXES
Parcel Number
14014-85016-00000
Land Assessment
$34,300 (2023)
Improvements Assessment
$225,000 (2023)
Total Assessment
$259,300 (2023)
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Heartland Investment Partners
Grand Avenue | 990 Grand Ave
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