1416/1418 3rd Avenue SE, Cedar Rapids, IA 52403
MLS Number: 2501792 |
Subtype: Residential | Area: SE Quadrant
$
150,000
Rare 4-Plex Investment Opportunity – $150,000 Total ($37,500 per Unit).
This fully rented property generates $34,740 gross annual income, offering a projected 20% cap rate at the current price point. The unit mix includes two 1-bedroom and two 2-bedroom apartments, appealing to a broad tenant base. Recent updates include a new roof and interior improvements, supporting long-term stability. Tenants are on month-to-month leases, providing flexibility for future rent adjustments. Located in Cedar Rapids’ MedQuarter district near major employers and downtown amenities, this asset combines affordability, strong returns, and long-term potential. Firm at $150,000 – priced to sell.
Property
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County: Linn
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Lot Size: 5600
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Acres: 0.1290
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Year Built: 1898
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Zoning: Res
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Gross tax: $1,994.00
Building
Total Building SF: 2,748
Utilities
Utilities: Separate Meters
Heating/Cooling: Forced Air Heat, Gas Heat, Wall/Window Unit(s)
Water Source: City Water
Sewer: City Sewer
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