$2,400,000 $12,884 est/mo Sourced by Back At You

619 Layne Drive,West Burlington, IA 52655

West Burlington IA, 52655

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Description

EXCEPTIONAL investment opportunity! Located in the thriving community of West Burlington, Iowa This newly constructed multifamily property features 9 LUXURY 2 bedroom, 2 bath condominium units. Each residence has been meticulously designed to offer the pinnacle of modern living, promising both comfort and elegance. Construction on these stunning units was completed in 2021. The property is currently fully leased. A monthly rent of $2,000 per unit, produces a gross rent of $216,000 annually, underpinned by a solid Net Operating Income (NOI) of $147,815, reflecting a desirable CAP rate of approximately 6.16%. The property boasts low vacancy rates, thanks to its prime location and high-demand luxury accommodations. Professional management is in place and willing to work with new owner. Seller is licensed to sell Real Estate in the State of Iowa.

Details

MLS#6314851
Listing TypeFor Sale
StyleTown House / Duplex
StatusActive
Year2021
Days On Site113
Listing Provided ByMidwest Realty | John Mercer IV

Features

SQ Feet1,340
Garage2
BasementY
Story(s)1

Market Activity 52655

MLS Internet Data Exchange (IDX) information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the Iowa Association of Realtors.

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Listings Checked: 11 minutes ago
StateIA
CountyDes Moines
CityWest Burlington
Zip Code52655
AreaDes Moines
Community NameIA
School District6937 - West Burlington ISD
Listing VS Median (in IA)
Price:
$2,400,000
low | high
Med:
$179,900
100% of Average
SqFt:
1,340
low | high
Med:
1,392
46.15671641791% of Average
$ / SqFt:
$1,791
low | high
Med:
$130
100% of Average
On Site:
113
low | high
Med:
22.000000
100% of Average
Sourced by Back At You
Listing Updated: May 20, 2024 at 10:13:25 PM PDT