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Multifamily

Coon Rapids Apartments

101 Elm St, Coon Rapids, IA 50058

Listing Price: $620,000

Cap Rate
7.54%
Number of Units
20
Price/Unit
$31,000

Investment Overview

Marcus & Millichap is pleased to announce the exclusive listing of Coon Rapids and Kimballton Apartments, a five-property portfolio totaling 29-units, locate d in Coon Rapids and Kimballton, Iowa. These properties are being offered for sale on a free-and-clear basis. Constructed in 1972, 1975, 1978, and 1985, Coon Rapids Apartments encompasses four properties and sits on a total of 1.91 acres. These properties feature 17 one-bedroom / one-bathroom units estimated at 600 sq uare feet and 3 two-bedroom / one-bathroom units estimated at 700 square feet . Constructed in 1975, Kimballton Apartments feature 7 one-bedroom / one-bathroom units at 500 square feet and 2 two-bedroom / one-bathroom units at 60 0 square feet. Units have been well maintained with updates as needed during u nit turnovers. Amenities include on-site laundry, patios, and of f-street parking. Located along the Middle Raccoon River , the city of Coon Rapids, Iowa is 68 miles west of Ames (home of Iowa State University) and 70 miles northwest of Des Moines (the state capitol). Whether it be hiking the open prairies, kayaking on the Middle Raccoon River , or shopping at the local boutiques and restaurants, Coon Rapids gives its residents many outdoor activities to enjoy. Kimballton, located in west central Iowa, is 66 miles northeast from Omaha, Nebraska. This town is 9 miles north of Interstate 80 on Highway 173 and is known for its biannual Danish celebrations: Tivoli Fest in May and Julefest in November . These five properties present the opportunity to acquire stabilized assets in the cities of Coon Rapids and Kimballton, Iowa.

Investment Highlights

  • Portfolio Price / Price Per Unit: $950,000 / $32,759
  • Portfolio Cap Rate / Portfolio Pro Forma Cap Rate: 7.53% / 8.40%
  • Double Digit Cash-on-Cash Returns

Exclusively Listed By

Broker of Record

  • Jon Ruzicka

    First Vice President Investments

    (952) 852-9700

    License(s) IA: B63379000

    Iowa

Multifamily

Coon Rapids Apartments

Listing Price: $620,000

Cap Rate
7.54%
Number of Units
20
Price/Unit
$31,000

Investment Highlights

  • Portfolio Price / Price Per Unit: $950,000 / $32,759
  • Portfolio Cap Rate / Portfolio Pro Forma Cap Rate: 7.53% / 8.40%
  • Double Digit Cash-on-Cash Returns

Investment Overview

Marcus & Millichap is pleased to announce the exclusive listing of Coon Rapids and Kimballton Apartments, a five-property portfolio totaling 29-units, locate d in Coon Rapids and Kimballton, Iowa. These properties are being offered for sale on a free-and-clear basis. Constructed in 1972, 1975, 1978, and 1985, Coon Rapids Apartments encompasses four properties and sits on a total of 1.91 acres. These properties feature 17 one-bedroom / one-bathroom units estimated at 600 sq uare feet and 3 two-bedroom / one-bathroom units estimated at 700 square feet . Constructed in 1975, Kimballton Apartments feature 7 one-bedroom / one-bathroom units at 500 square feet and 2 two-bedroom / one-bathroom units at 60 0 square feet. Units have been well maintained with updates as needed during u nit turnovers. Amenities include on-site laundry, patios, and of f-street parking. Located along the Middle Raccoon River , the city of Coon Rapids, Iowa is 68 miles west of Ames (home of Iowa State University) and 70 miles northwest of Des Moines (the state capitol). Whether it be hiking the open prairies, kayaking on the Middle Raccoon River , or shopping at the local boutiques and restaurants, Coon Rapids gives its residents many outdoor activities to enjoy. Kimballton, located in west central Iowa, is 66 miles northeast from Omaha, Nebraska. This town is 9 miles north of Interstate 80 on Highway 173 and is known for its biannual Danish celebrations: Tivoli Fest in May and Julefest in November . These five properties present the opportunity to acquire stabilized assets in the cities of Coon Rapids and Kimballton, Iowa.

Exclusively Listed By

Broker of Record

  • Jon Ruzicka

    First Vice President Investments

    (952) 852-9700

    License(s): IA: B63379000

    Iowa

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