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Community Terrace Apartments 115 S 5th Ave W 12 Unit Apartment Building $876,535 CAD ($73,045 CAD/Unit) 8.72% Cap Rate Newton, IA 50208
Investment Highlights
- 100% Occupancy
- New Roof in 2023
- 8.7+% Cap Rate
- 30 Minutes from Des Moines MSA
Executive Summary
List Price: $635,000 ($52,917/unit)
Number of Units: 12
Occupancy: 100%
Unit Mix: 6-1BR/1BA; 6-2BR/1BA
Cap Rate: 8.72%
Year Built: 1977
Avg. Unit Rent: $631
New Roof in 2023
Residents pay electric direct and are billed back for gas, water, sewer, trash, and pest control.
Number of Units: 12
Occupancy: 100%
Unit Mix: 6-1BR/1BA; 6-2BR/1BA
Cap Rate: 8.72%
Year Built: 1977
Avg. Unit Rent: $631
New Roof in 2023
Residents pay electric direct and are billed back for gas, water, sewer, trash, and pest control.
Property Facts
| Price | $876,535 CAD | Property Subtype | Apartment |
| Price Per Unit | $73,045 CAD | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 8.72% | Building Size | 8,424 SF |
| No. Units | 12 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1977 |
| Price | $876,535 CAD |
| Price Per Unit | $73,045 CAD |
| Sale Type | Investment |
| Cap Rate | 8.72% |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Building Size | 8,424 SF |
| No. Stories | 2 |
| Year Built | 1977 |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Freezer
Site Amenities
- 24 Hour Access
- Controlled Access
- Recycling
- Walk-Up
- Smoke Detector
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Fairly walkable
50/100
Very drivable
80/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | 08-34-304-017 | Improvements Assessment | $526,321 CAD |
| Land Assessment | $45,966 CAD | Total Assessment | $572,288 CAD |
Property Taxes
Parcel Number
08-34-304-017
Land Assessment
$45,966 CAD
Improvements Assessment
$526,321 CAD
Total Assessment
$572,288 CAD
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Community Terrace Apartments | 115 S 5th Ave W
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