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    1249 3Rd Ave SE Cedar Rapids, IA 52403

    For Sale
    $170,000

    5+ Units - Cedar Rapids, IA

    Property size:
    2,776 SF
    Lot size:
    0.13 Acres
    Days on Market:
    12
    Last Refresh:
    Dec 5 at 11:06 pm

    Property Features for 1249 3Rd Ave SE

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    APN
    142232600500000
    Size
    2,776 SF
    Lot size
    0.13 Acres

    Utilities

    Heating system
    Electric (Heating)
    Cooling system
    Wall/Window Unit(s)

    Building Details

    Year built
    1900
    Building materials
    Frame
    Architectural style
    Other

    Coldwell Banker Hedges (319) 367-8760 [email protected]

    Listing agent Beth Mackey (319) 378-8760

    Listing date Nov 24, 2025

    MLS# 2503728 Listing URL

    Copyright © 2025 Cedar Rapids Area Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Cedar Rapids Multifamily Investment

    This investment property is a five-unit multifamily building (5-plex) consisting of five one-bedroom units. Two of the units are equipped with in-unit laundry, while the remaining three tenants have access to a common laundry area located in the basement. The property has a solid rental history, with consistent occupancy and reliable tenants. The last city inspection was completed in July 2024, ensuring compliance with local housing codes and regulations. Each unit pays their own electric. Owner pays trash, water and common area electric. The property is located in Cedar Rapids, IA, and has a lot size of 0.129 acres. The building has a total area of 2776 square feet.
    Property Profile Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Cedar Rapids
    County
    Linn
    State
    Iowa
    Longitude
    -91.6544262
    Latitude
    41.9838754

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    FAQs

    What type of property is this?
    Apartment building - Five-unit multifamily building with a solid rental history.
    Where is this apartment building located?
    The property is located at 1249 3Rd Ave SE Cedar Rapids, IA.
    What is the asking price?
    The asking price for this property is $170,000.
    What are key features of this property?
    This property features: - Solid rental history with consistent occupancy and reliable tenants.; - Five-unit multifamily building (5-plex) with five one-bedroom units.; - Two units feature in-unit laundry.
    (319) 378-8760
    Request Owner's contact information
    1249 3Rd Ave SE Cedar Rapids, IA 52403
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    Cedar Rapids, IA 52403
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1249 3Rd Ave SE Cedar Rapids, IA 52403
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