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 comfort 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.
Albert Wright Page, License B62241000, Xome Inc., License FO5635000, [email protected], 844-400-XOME (9663), 4471 North Billman Estates, Shelbyville, IN 46176
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West Burlington is located in Iowa. West Burlington, Iowa has a population of 3,190. West Burlington is more family-centric than the surrounding county with 33.62% of the households containing married families with children. The county average for households married with children is 25.04%.
The median household income in West Burlington, Iowa is $42,031. The median household income for the surrounding county is $54,318 compared to the national median of $69,021. The median age of people living in West Burlington is 39.9 years.
The average high temperature in July is 85.8 degrees, with an average low temperature in January of 16 degrees. The average rainfall is approximately 38.6 inches per year, with 21.2 inches of snow per year.
