$850,000
COUNCIL BLUFFS, IA 51501
MLS# 21-399
Status: Closed
16429 sqft
1 / 26
Property Description
This property consist of an impressive 12 unit apartment building and an adjacent duplex. Both buildings are situated on the same lot with common parking, the property is immediately across the street from Bayliss Park in the Haymarket District of Council Bluffs. Recent major improvements include new EverSeal roofing with 50year transferrable warranty, 12 new central air units, a new asphalt parking lot, and many interior renovations. Most of the units have seen substantial remodeling leaving the units with a mix of the old world charm as well as modern comforts like new kitchens that feature LVT flooring and granite counters! The cashflow on this property is impressive as well! With over $123K annual revenue this property is being offered at a 9.4% CAP rate with 100% occupancy!
Details
Maps
Contract Information
Sale: For Sale
Bank Owned?: No
Current Price: $850,000
Status: Closed
Listing Date: 2021-03-23
Sold Price: $850,000
General Property Description
# Sleeping Rooms: 9+
# Effic Studios: Three
# of 1 BR Units: Five +
# of 2 BR Units: One
Lot Size: TBD
# of 3+ BR Units: Four
# of Full Baths: 9+
# of 1/2 Baths: None
Garage: None
Parking: 7 - 10
Type of Property: Apartment Building
Year Built: 1925
Number of Units: 14
Tot Fnshd SF: 16429
Location, Tax & Legal
Located City/County: City
Elementary School: Bloomer
Jr. High: Gerald W Kirn
High School: Abraham Lincoln
School District: Council Bluffs
Legal: TBD, Subject to lot split
Parcel No.: 7544 36 127 010
Current REIDS Yr Pd: N/A
Area: Area 4
House #: 600
Street Name: 1ST
Street Suffix: Avenue
State/Province: IA
County: POTTAWATTAMIE
Zip Code: 51501
Office/Member Info
Net Taxes: 12176
Tax Year: 2019
Status Change Info
Type Of Financing: Cash
Status Change Date: 2021-05-18
Under Contract Date: 2021-03-26
Sold Date: 2021-05-11
Sold Price: $850,000
Miscellaneous
Individual Elec Mtrs: 1
Individual Gas Mtrs: 1
Security Deposit: 1
Possession
Negotiable: 1
Subject to Tenants: 1
Exterior
Brick: 1
Roof
Flat: 1
Terms
Cash: 1
Conventional: 1
Other - See Remarks: 1
Appliances
Dryer - Coin: 1
Range: 1
Refrigerator: 1
Washer - Coin: 1
Documents on File
Legal Description: 1
Other: 1
How To Show
Call Agent: 1
Subject to Tenants: 1
Number of Stories
3 or More: 1
Features
Carpets: 1
Common Util Room: 1
Extra Storage: 1
Hardwood: 1
Patio: 1
Private Entrance: 1
Inspections
Self Inspected: 1
Mortgage Info
Assumable: N
Gross Taxes: 12176
Util Pd/by Renter
Electric: 1
Gas: 1
Util Paid/Owner
Common Area Only: 1
Electric: 1
Garbage: 1
Water: 1
Heat/Cooling
Central Air: 1
Forced Air: 1
Heat Pump: 1
Natural Gas: 1
Status Info
Sold Status: Sold Inner Office
REIDS Inc Sale Prc: No
Sale Price Incl Lot: Yes
Property Features
Exterior: Brick
Roof: Flat
Documents on File: Legal Description; Other
Terms: Cash; Conventional; Other - See Remarks
How To Show: Call Agent; Subject to Tenants
Appliances: Dryer - Coin; Range; Refrigerator; Washer - Coin
Possession: Negotiable; Subject to Tenants
Features: Carpets; Common Util Room; Extra Storage; Hardwood; Patio; Private Entrance
Miscellaneous: Individual Elec Mtrs; Individual Gas Mtrs; Security Deposit
Inspections: Self Inspected
Number of Stories: 3 or More
Listing Office: Heartland Properties
Last Updated: September - 01 - 2024
Information deemed reliable but not guaranteed.