Renovated Apartment
210 19th St. NE, Cedar Rapids, IA 52402
For Sale
$2,000,000
Updated apartment interiors and mechanical systems support a refreshed multifamily property.
Property Size8,520 SF
Price / SF$234.74
Days on Market54
Property Features for 210 19th St. NE
General Information
Standard status
Size
Property subtype
Units
Unit Mix
Multifamily Units
Taxes and HOA fees
Annual Taxes
Amenities
laundry machines
Walk-Out Access
Yes
Common Area
Public
0.677
29490.12
Building Details
Year Built
Year Renovated
Listing Agency:
Freedom REMI LLC
(319) 393-0900
Listed By:
Gabby Wilson
(309) 314-6058
Source:
Pinnaclerealtyia
Added: Sep 15
Changed: Nov 6
Last Checked: Nov 6 at 6:06AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Freedom REMI LLC
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Investment Insights
Based on property information with market context.
This 8,520-square-foot apartment building contains 24 units, including 12 two-bedroom apartments and 12 one-bedroom apartments. Renovation work completed in 2025 included full post-fire reconstruction, four apartments rebuilt from the studs, new flooring, fixtures, windows, handrails, entry doors, hallway doors, and mostly new appliances. The exterior was also repainted, and high-tech laundry machines were installed.
Mechanical and electrical improvements include a new boiler, fan coil units throughout, a rebuilt chiller system, and new electrical installations in all 24 apartment units. Circuit breakers were updated, and new gear was added in the mechanical room. The property is located at 210 19th St. NE in Cedar Rapids, Iowa, on a 0.677-acre site.
Mechanical and electrical improvements include a new boiler, fan coil units throughout, a rebuilt chiller system, and new electrical installations in all 24 apartment units. Circuit breakers were updated, and new gear was added in the mechanical room. The property is located at 210 19th St. NE in Cedar Rapids, Iowa, on a 0.677-acre site.
Key Highlights
- 24‑unit apartment building with 12 two‑bedroom and 12 one‑bedroom units
- 8,520 SF building on a 0.677‑acre site
- 2025 renovation included full post‑fire reconstruction
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$68,659
Cap Rate
3.43%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,373,180
$1.4M
Cap Rate 7%
$980,843
$980.8K
Cap Rate 9%
$762,878
$762.9K
Market Conditions
NOI Build-Up for 8,520 SF
Gross rent
$135.0K $15.84/SF
− Vacancy
−$10.1K −$1.19/SF
EGI
$124.8K $14.65/SF
− OpEx
−$56.2K −$6.59/SF
NOI
$68.7K $8.06/SF
Area
Cedar Rapids, IA
Vacancy
7.50%
Lease Rate
$15.84 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,373,180
Cap Rate 7%
$980,843
Cap Rate 9%
$762,878
Alternative Uses
Best Use
Apartment 5plus
$980.8K
$858.2K – $1.14M
NOI $68,659 @ 7.0% cap · market cap 3.43%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.23M
$1.08M – $1.44M
NOI $86,318 @ 7.0% cap · market cap 4.32%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
24
Residential units
Location Intelligence
Trade Area within ½ mile
643
Businesses Nearby
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Business Placement
Demographics for 52402, IA
42,072
Population
19,848
Households
2.1
Avg Household Size
36
Median Age
41%
College-Educated
95%
High-School Grad
13.7 sq mi
ZIP Area
3,071
Density / Sq Mi
$71,319
Median Household Income
$41,753
Median Earnings
$992
Median Rent
$188,700
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Apartment building - Updated apartment interiors and mechanical systems support a refreshed multifamily property.
Where is this apartment building located?
The property is located at 210 19th St. NE Cedar Rapids, IA.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: 24‑unit apartment building with 12 two‑bedroom and 12 one‑bedroom units; 8,520 SF building on a 0.677‑acre site; 2025 renovation included full post‑fire reconstruction
