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1 Richards Dr Keokuk, IA 52632

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For Sale
$855,000

Two-building, 16-unit complex in Keokuk, Iowa, with 100% occupancy.

Property size:
16,000 SF

Property Features for 1 Richards Dr

General Information

Standard status
Active
Size
16,000 SF

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Listing Contact
Ray Hamilton
Source: Cbre

Listing Agent: Ray Hamilton

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

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Overview

Keokuk Multifamily Investment Opportunity

This property features two brick buildings constructed in 1978. The unit mix consists entirely of 2-bedroom units. The complex contains a total building area of 16,800 square feet. The property is currently 100% occupied, with average in-place rents of $710. Surface parking is available. The property is located in Keokuk, Iowa, the southernmost city in the state, situated at the junction of U.S. Routes 61, 136, and 218. Its location is across the street from Keokuk Middle & High School and within 5 minutes of WalMart, Hy-Vee, Aldi, and several other retailers along HWY 218/Main Street. The capitalization rate is 9.22%.
Location Intelligence

Current Use by Public Records

Apartment buildings

Suggested Use

Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

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

Location Insight

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  • Local Demand
City
Keokuk
County
Lee
State
Iowa
Longitude
-91.393314
Latitude
40.409637

FAQs

What type of property is this?
Apartment building - Two-building, 16-unit complex in Keokuk, Iowa, with 100% occupancy.
Where is this apartment building located?
The property is located at 1 Richards Dr Keokuk, IA.
What is the asking price?
The asking price for this property is $855,000.
What are key features of this property?
This property features: - 9.22% Cap Rate; - 100% Occupied, offering immediate returns; - Ideal unit mix: All 2BR/1BA units
More about this property
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