$2,290,000
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619 Layne West Burlington, IA 52655
Duplex
Residence
Beds
Baths
...
Bed/Bath
1,340
Sq. Ft.
Property Activity
Time on Site
days
Days on Market
Views
Saves
EXCEPTIONAL investment opportunity! Located in the thriving community of West Burlington, Iowa This newly constructed multifamily property features 9 LUXURY 2 bedroom, 2 bath condominium units. Each residence has been meticulously designed to offer the pinnacle of modern living, promising both comfo...rt and elegance. Construction on these stunning units was completed in 2021. The property is currently fully leased. A monthly rent of $2,000 per unit, produces a gross rent of $216,000 annually, underpinned by a solid Net Operating Income (NOI) of $147,815, reflecting a desirable CAP rate of approximately 6.16%. The property boasts low vacancy rates, thanks to its prime location and high-demand luxury accommodations. Professional management is in place and willing to work with new owner. Seller is licensed to sell Real Estate in the State of Iowa.
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MLS#
6323033
Property Type
Duplex
Year Built
2021
Square Feet
1,340
sq. ft
Price per Sq. Ft.
$1,708.96
Lot Size
0.2
Stories
1.0
Sewer
City Sewer
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