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303 Cottage St NW - 107 Homer St & 303 Cottage St NW - 8 Units 8 Unit Apartment Building Offered at $758,325 CAD at a 7.62% Cap Rate Shellsburg, IA 52332
Investment Highlights
- Separately Metered
- Comparable to Cedar Rapids rent market
Executive Summary
Located in Shellsburg, Iowa, this 8-unit multifamily investment opportunity includes two well-maintained 4-plexes being offered together: 303 Cottage St NW and 107 Homer St.
303 Cottage St NW was fully gutted and remodeled in 2022, featuring updated interiors throughout. All utilities are separately metered, minimizing owner expenses. Current rents are $850 per month, with the owner responsible only for common electric and common water.
107 Homer St offers stable cash flow with all units separately metered, electric baseboard heat, wall A/C units, and owned laundry facilities. Current rents are $750 per month, while the owner pays only common electric and common water.
Together, these properties provide investors with a solid combination of updated units, separate utility metering, and strong rental demand in a growing small-town market just minutes from the Cedar Rapids corridor.
Highlights:
8 total units (two 4-plexes)
Offered together for $535,000
Gross Income: $73,560
NOI: $40,780
Separate utility metering throughout
Updated interiors at 303 Cottage St NW
Owned laundry at 107 Homer St
All tenants currently on month-to-month leases
For additional information, contact:
Isaiah Garman – 319-540-9070 | Isaiah@Hlandire.com
Trot Carey – 319-743-5663 | Trot@Hlandire.com
Hlandire.com
303 Cottage St NW was fully gutted and remodeled in 2022, featuring updated interiors throughout. All utilities are separately metered, minimizing owner expenses. Current rents are $850 per month, with the owner responsible only for common electric and common water.
107 Homer St offers stable cash flow with all units separately metered, electric baseboard heat, wall A/C units, and owned laundry facilities. Current rents are $750 per month, while the owner pays only common electric and common water.
Together, these properties provide investors with a solid combination of updated units, separate utility metering, and strong rental demand in a growing small-town market just minutes from the Cedar Rapids corridor.
Highlights:
8 total units (two 4-plexes)
Offered together for $535,000
Gross Income: $73,560
NOI: $40,780
Separate utility metering throughout
Updated interiors at 303 Cottage St NW
Owned laundry at 107 Homer St
All tenants currently on month-to-month leases
For additional information, contact:
Isaiah Garman – 319-540-9070 | Isaiah@Hlandire.com
Trot Carey – 319-743-5663 | Trot@Hlandire.com
Hlandire.com
Data Room Click Here to Access
- Offering Memorandum
- Market Information
- Operating and Financials
Financial Summary (Actual - 2025) Click Here to Access |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
-
|
-
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $758,325 CAD | No. Units | 8 |
| Price Per Unit | $94,791 CAD | Property Type | Multifamily |
| Sale Type | Investment | No. Stories | 2 |
| Cap Rate | 7.62% | Year Built | 1977 |
| Price | $758,325 CAD |
| Price Per Unit | $94,791 CAD |
| Sale Type | Investment |
| Cap Rate | 7.62% |
| No. Units | 8 |
| Property Type | Multifamily |
| No. Stories | 2 |
| Year Built | 1977 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 4 | - | - |
1 1
Somewhat walkable
20/100
Exceptionally drivable
90/100
Fairly bikeable
40/100
1 of 4
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
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Presented by
Heartland Investment Partners
303 Cottage St NW - 107 Homer St & 303 Cottage St NW - 8 Units
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