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Courtyard Apartments 1453 N 11th Ave E 44 Unit Apartment Building $3,527,903 CAD ($80,180 CAD/Unit) 7.75% Cap Rate Newton, IA 50208
Investment Highlights
- 100% Leased
- Apartment & Townhome-Style Buildings
Executive Summary
CBRE is pleased to present the opportunity to acquire Courtyard Apartments, a 44-unit value-add multifamily community located in Newton, Iowa. The property features a diverse unit mix of 24-2BR/1BA and 20-3BR/1BA units across townhome style and apartment style buildings constructed in 1979, 1980, and 1984.
Courtyard Apartments is located approximately 30 minutes east of Des Moines in Newton, a growing Central Iowa community. Strategically positioned along Interstate 80 with convenient access to Interstate 35, Newton is widely recognized as the “Crossroads of the Midwest,” offering strong regional connectivity and commuter access.
Please click here for more information: https://www.cbredealflow.com/buyer/agreement?pv=Tx2aA51PC5A8V1gK115__mTio3DhHHidqh8P-TLH6hyufYBnJ2GVtL5QRHaNuWtW
Address: 1453 N 11th Ave E, Newton, IA 50208
List Price: $2,595,000
Price Per Unit: $58,977
Cap Rate: 7.75%
Year Built: 1979-1980, 1984
Number of Units: 44
Unit Mix: 24-2BR/1BA; 20-3BR/1BA
Total Building SF: 31,069
Avg. In Place Rent: $691
Number of Buildings: 6 + office/laundry
Number of Stories: 2 & 3
Parking: Surface
Parcel Size: 3.39 acres
Courtyard Apartments is located approximately 30 minutes east of Des Moines in Newton, a growing Central Iowa community. Strategically positioned along Interstate 80 with convenient access to Interstate 35, Newton is widely recognized as the “Crossroads of the Midwest,” offering strong regional connectivity and commuter access.
Please click here for more information: https://www.cbredealflow.com/buyer/agreement?pv=Tx2aA51PC5A8V1gK115__mTio3DhHHidqh8P-TLH6hyufYBnJ2GVtL5QRHaNuWtW
Address: 1453 N 11th Ave E, Newton, IA 50208
List Price: $2,595,000
Price Per Unit: $58,977
Cap Rate: 7.75%
Year Built: 1979-1980, 1984
Number of Units: 44
Unit Mix: 24-2BR/1BA; 20-3BR/1BA
Total Building SF: 31,069
Avg. In Place Rent: $691
Number of Buildings: 6 + office/laundry
Number of Stories: 2 & 3
Parking: Surface
Parcel Size: 3.39 acres
Property Facts
| Price | $3,527,903 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $80,180 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 3.39 AC |
| Cap Rate | 7.75% | Building Size | 31,069 SF |
| No. Units | 44 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1980 |
| Property Subtype | Apartment | ||
| Zoning | MUH | ||
| Price | $3,527,903 CAD |
| Price Per Unit | $80,180 CAD |
| Sale Type | Investment |
| Cap Rate | 7.75% |
| No. Units | 44 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 3.39 AC |
| Building Size | 31,069 SF |
| No. Stories | 3 |
| Year Built | 1980 |
| Zoning | MUH |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Oven
- Range
- Tub/Shower
Site Amenities
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Walk-Up
- Smoke Detector
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Fairly walkable
40/100
Very drivable
80/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 08-26-326-001 | Improvements Assessment | $2,200,571 CAD |
| Land Assessment | $276,217 CAD | Total Assessment | $2,476,788 CAD |
Property Taxes
Parcel Number
08-26-326-001
Land Assessment
$276,217 CAD
Improvements Assessment
$2,200,571 CAD
Total Assessment
$2,476,788 CAD
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Courtyard Apartments | 1453 N 11th Ave E
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