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Creekside Apartments 2939-3009 12th Ave SW 75 Unit Apartment Building $4,481,400 CAD ($59,752 CAD/Unit) Cedar Rapids, IA 52404
Investment Highlights
- Investment opportunity
- Less than 20 minutes from retail hub of Cedar Rapids
- 76 apartment units
- Less than 5 minutes from Cedar Rapids business district
- Convenient access to I-380 and Highway 30
- 13 attached garage units
Executive Summary
Great opportunity to acquire Creekside Apartments. This property, located just off Williams Blvd SW and 16th Ave SW in Cedar Rapids, Iowa, consists of 76 residential apartment units. Unit makeup consists of 17 studio apartments, 38 1Bd/1Ba, 16 1Bd/1Ba (2-lvl), 4 2Bd/1Ba, and 1 3Bd/2Ba. The sale also includes 13 attached garage units. The property sits on approximately 2 Acres of ground and contains 92 surface parking stalls.
Contact listing agent for more information and to schedule a showing. Confidentiality Agreement required to view Offering Memorandum with more in-depth information on the property including financial data.
Contact listing agent for more information and to schedule a showing. Confidentiality Agreement required to view Offering Memorandum with more in-depth information on the property including financial data.
Property Facts
| Price | $4,481,400 CAD | Building Class | C |
| Price Per Unit | $59,752 CAD | Lot Size | 2.30 AC |
| Sale Type | Investment | Building Size | 75,000 SF |
| No. Units | 75 | Average Occupancy | 88% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1975 |
| Apartment Style | Low-Rise | ||
| Zoning | Suburban Mixed Use - Multi-family | ||
| Price | $4,481,400 CAD |
| Price Per Unit | $59,752 CAD |
| Sale Type | Investment |
| No. Units | 75 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 2.30 AC |
| Building Size | 75,000 SF |
| Average Occupancy | 88% |
| No. Stories | 2 |
| Year Built | 1975 |
| Zoning | Suburban Mixed Use - Multi-family |
Amenities
Unit Amenities
- Air Conditioning
- Cable Ready
- Heating
- Kitchen
- Oven
- Range
- Tub/Shower
- Carpet
Site Amenities
- 24 Hour Access
- Controlled Access
- Laundry Facilities
- Property Manager on Site
- Tenant Controlled HVAC
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 25 | $712.95 CAD | 255 - 295 |
| 1+1 | 24 | $835.17 CAD | 465 - 682 |
| 2+1 | 26 | $943.81 CAD | 600 |
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Fairly walkable
40/100
Exceptionally drivable
100/100
Some public transit
40/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 14303-80017-01002 | Improvements Assessment | $34,606 CAD |
| Land Assessment | $6,839 CAD | Total Assessment | $41,446 CAD |
Property Taxes
Parcel Number
14303-80017-01002
Land Assessment
$6,839 CAD
Improvements Assessment
$34,606 CAD
Total Assessment
$41,446 CAD
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Creekside Apartments | 2939-3009 12th Ave SW
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