Listed By Midwest Realty, John Mercer IV
619 LAYNE DR West Burlington, IA 52655
$2,400,000
—
Bedrooms
—
Total Baths
—
Full Baths
1,340
Square Feet
0.20
Acres
2021
Year Built
Active
Status
MLS#
6314851
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 for 619 LAYNE DR
*The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed.
Price per square foot and days on website are not provided values and are calculated by RE/MAX.
Listing Office Midwest Realty, 319-237-1139
MLS# 6314851
Updated 3:58AM - 4/28/2024
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