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624 Palean St
Keokuk, IA 52632
Multifamily Property For Sale
·
5 Units
INVESTMENT HIGHLIGHTS
- New vinyl siding and some new windows.
- New roof installed.
- Updated electrical service with individual meters.
EXECUTIVE SUMMARY
624 Palean Street, Keokuk, IA 52632 is an income-producing property consisting of five rental units. Four units feature two bedrooms and one bathroom, and one unit features one bedroom and one bathroom. All units are equipped with baseboard heat and window air conditioning. Recent improvements include new vinyl siding, some new windows, a new roof, and updated electrical service with separate meters for each unit. All units have been remodeled. Tenants are responsible for electricity, while the landlord pays for water and trash service. Current rental income includes one one-bedroom unit at $500 per month, two two-bedroom units at $725 per month each, and two two-bedroom units at $650 per month each. This property offers multiple income streams with updated infrastructure and separate utilities.
PROPERTY FACTS
| Price Per Unit | $49,247 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.14 AC |
| Cap Rate | 15.54% | Building Size | 3,490 SF |
| No. Units | 5 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1840 |
| Property Subtype | Apartment | Parking Ratio | 1.15/1,000 SF |
| Apartment Style | Low-Rise | Opportunity Zone |
Yes
|
| Zoning | R3 | ||
| Price Per Unit | $49,247 CAD |
| Sale Type | Investment |
| Cap Rate | 15.54% |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.14 AC |
| Building Size | 3,490 SF |
| No. Stories | 2 |
| Year Built | 1840 |
| Parking Ratio | 1.15/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | R3 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Microwave
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Laundry Facilities
- Tenant Controlled HVAC
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 1 | - | 698 |
| 2+1 | 4 | - | 698 |
PROPERTY TAXES
| Parcel Number | 04-45-21-25-385-0100 | Improvements Assessment | $141,097 CAD |
| Land Assessment | $8,433 CAD | Total Assessment | $149,530 CAD |
PROPERTY TAXES
Parcel Number
04-45-21-25-385-0100
Land Assessment
$8,433 CAD
Improvements Assessment
$141,097 CAD
Total Assessment
$149,530 CAD
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