$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
Current Price: $850,000
Status: Closed
Listing Date: 2021-03-23
Sold Price: $850,000
Sale: For Sale
Bank Owned?: No
General Property Description
Type of Property: Apartment Building
# Sleeping Rooms: 9+
# Effic Studios: Three
# of 1 BR Units: Five +
# of 2 BR Units: One
# of 3+ BR Units: Four
# of Full Baths: 9+
# of 1/2 Baths: None
Garage: None
Parking: 7 - 10
Year Built: 1925
Number of Units: 14
Lot Size: TBD
Tot Fnshd SF: 16429
Location, Tax & Legal
Area: Area 4
House #: 600
Street Name: 1ST
Street Suffix: Avenue
State/Province: IA
County: POTTAWATTAMIE
Zip Code: 51501
Status Change Info
Status Change Date: 2021-05-18
Under Contract Date: 2021-03-26
Sold Date: 2021-05-11
Sold Price: $850,000
Type Of Financing: Cash
Mortgage Info
Assumable: N
Gross Taxes: 12176
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: July - 01 - 2026
Information deemed reliable but not guaranteed.