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    500 Layne Dr West Burlington, IA 52655

    Pending
    For Sale
    $9,000,000

    Apartment - West Burlington, IA

    Type:Apartment
    Days on Market:
    35
    Last Refresh:
    Dec 14 at 1:06 pm

    Property Features for 500 Layne Dr

    General Information

    Property type
    Commercial Sale
    Property subtype
    Apartment
    Standard status
    Pending
    APN
    10-35-178-038
    Parking features
    Paved or Surfaced

    Utilities

    Heating system
    Forced Air

    Building Details

    Year built
    2024
    Number of units
    52
    Building materials
    Vinyl Siding
    Architectural style
    Other

    Midwest Realty (319) 237-1139

    Listing agent John Mercer IV (319) 237-1139 License #***

    Listing date Nov 10, 2025

    MLS# 6333564 Listing URL

    Copyright © 2025 NoCoast MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    New Multifamily Property in Iowa

    This newly constructed Class A multifamily property, completed in 2024, features 52 high-quality residential units in Southeast Iowa. The property offers a balanced unit mix consisting of 8 three-bedroom, 2.5-bath units, 24 two-bedroom, one-bath units, and 20 one-bedroom, one-bath units. Each apartment includes premium finishes such as soft-close cabinetry, luxury vinyl plank flooring, and energy-efficient Pella windows. Individual HVAC, plumbing, and electrical systems are present in each unit. Community amenities include a dog park, playground, and ample green space. Tenants benefit from in-unit laundry, while ownership benefits from separate utility metering, where residents are responsible for electric, gas, and internet. The property is located near Southeast Iowa Regional Hospital and major retail corridors, attracting strong tenant demand. Current market rents are $1,900 for three-bedroom units, $1,275 for two-bedroom units, and $975 for one-bedroom units. The property benefits from a 5 year tax abatement.
    Property Profile Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    West Burlington
    County
    Des Moines
    State
    Iowa
    Longitude
    -91.173831
    Latitude
    40.822485

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    FAQs

    What type of property is this?
    Apartment building - Newly built multifamily property with 52 units in West Burlington.
    Where is this apartment building located?
    The property is located at 500 Layne Dr West Burlington, IA.
    What is the asking price?
    The asking price for this property is $9,000,000.
    What are key features of this property?
    This property features: - Newly constructed (2024) Class A multifamily property offering a turnkey investment.; - Enjoy significantly reduced ownership costs with a 5-year tax abatement.; - Premium finishes including soft-close cabinetry, LVP flooring, and Pella windows attract high-quality tenants.
    (319) 237-1139
    Request Owner's contact information
    500 Layne Dr West Burlington, IA 52655
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    West Burlington, IA 52655
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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
    500 Layne Dr West Burlington, IA 52655
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