Investment Overview

Marcus & Millichap is pleased to present the Grand Crossing Apartments, a new 108- unit condo-quality apartment building located in the heart of Downtown Waterloo where significant revitalization is taking place, including many new restaurants and venues. Grand Crossing offers easy access to extensive bike and walking trails leading throughout downtown and the Cedar River. Within walking distance of newly-completed Cedar Valley SportsPlex, RiverLoop Amphitheater, Farmers Market, Waterloo Center for the Arts, Grout Museum District, Waterloo Public Library, and more. The unit mix is comprised of 64 one-bedroom/one bath apartments, 26 two-bedroom/ one bath apartments and 14 two-bedroom/two bath units, for a total of 104 multifamily units. There are also four, fully leased, commercial units. Each multifamily unit is loaded with high-end finishes, high-efficiency appliances, including a washer/dryer and a private balcony. Building amenities include a community room, fitness center, bike storage, elevator and safety access features. Heated underground parking is available. Each unit has thermostatic controls and is equipped with forced air heat, cooled with central air, and individual water heaters. Tenants pay for heat, air-conditioning and hot water. The entire complex is constructed following Iowa Green Streets Criteria 4.0, which incorporates additional storm water management practices such as the parking lot made of permeable pavers providing drainage to bioretention ponds.