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Multifamily

Nexus Townhomes

500 Layne Dr, West Burlington, IA 52655

Listing Price: $10,575,000

Cap Rate
7.30%
Number of Units
76
GRM
9.94
Occupancy
96.0%
Price/Unit
$139,145

Investment Overview

newly constructed Class A multifamily property completed in 2024,
featuring 52 high-quality residential units in a strong Southeast Iowa location. This
turnkey asset offers a balanced unit mix consisting of (8) three-bedroom, 2.5-bath units,
(24) two-bedroom, one-bath units, and (20) one-bedroom, one-bath units. Each
apartment is outfitted with premium finishes including soft-close cabinetry, luxury vinyl
plank flooring, energy-efficient Pella windows, and individual HVAC, plumbing, and
electrical systems.

Investment Highlights

  • 52 existing units with ability to add two more buildings.
  • The property is thoughtfully designed with community in mind, offering amenities such as a dog park, playground, and ample green space. Tenants enjoy the convenience of in-unit laundry.
  • 5-Year Tax Abatement commencing in 2027

Broker of Record

  • Jon Ruzicka

    Managing Director Investments

    (952) 852-9700

    License(s) IA: B63379000

    Iowa

Multifamily

Nexus Townhomes

Listing Price: $10,575,000

Cap Rate
7.30%
Number of Units
76
GRM
9.94
Occupancy
96.0%
Price/Unit
$139,145

Investment Highlights

  • 52 existing units with ability to add two more buildings.
  • The property is thoughtfully designed with community in mind, offering amenities such as a dog park, playground, and ample green space. Tenants enjoy the convenience of in-unit laundry.
  • 5-Year Tax Abatement commencing in 2027

Investment Overview

newly constructed Class A multifamily property completed in 2024, featuring 52 high-quality residential units in a strong Southeast Iowa location. This turnkey asset offers a balanced unit mix consisting of (8) three-bedroom, 2.5-bath units, (24) two-bedroom, one-bath units, and (20) one-bedroom, one-bath units. Each apartment is outfitted with premium finishes including soft-close cabinetry, luxury vinyl plank flooring, energy-efficient Pella windows, and individual HVAC, plumbing, and electrical systems.

Broker of Record

  • Jon Ruzicka

    Managing Director Investments

    (952) 852-9700

    License(s): IA: B63379000

    Iowa

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