Two-Bedroom 6-Unit Apartment
2340 Central Ave, Dubuque, IA 52001
For Sale
$500,000
6 units with two bedrooms each and plenty of off-street parking, with separate gas meters for tenant billing flexibility.
Property Size4,298 SF
Price / SF$116.33
Days on Market107
Property Features for 2340 Central Ave
General Information
Standard status
Size
Property subtype
Units
Unit Mix
Multifamily Units
Building Details
Year Built
Listing Agency:
Ruhl & Ruhl Realtors
Listed By:
Pamela Helmer
(563) 213-2636
Source:
Kwlegacyrealty
Added: Jul 28
Changed: Oct 25
Last Checked: Oct 7 at 3:27PM
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 Ruhl & Ruhl Realtors
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This two-bedroom 6-unit apartment building offers a straightforward residential income setup, with six units total. The property includes plenty of off-street parking to support tenant and guest access.
Gas expense is currently paid by the owner, but separate meters are in place, allowing tenants to potentially pay for gas as applicable. Interior photos are available for units 3 and 6.
Built in 1900, the building totals 4,298 SF. The combination of a small, multi-unit configuration and metered gas can be helpful for investors looking for a manageable unit count with clear utility separation.
Gas expense is currently paid by the owner, but separate meters are in place, allowing tenants to potentially pay for gas as applicable. Interior photos are available for units 3 and 6.
Built in 1900, the building totals 4,298 SF. The combination of a small, multi-unit configuration and metered gas can be helpful for investors looking for a manageable unit count with clear utility separation.
Key Highlights
- Six units with two bedrooms each
- Plenty of off‑street parking
- Separate gas meters; owner currently pays for gas
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,679
Cap Rate
6.54%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$653,580
$653.6K
Cap Rate 7%
$466,843
$466.8K
Cap Rate 9%
$363,100
$363.1K
Market Conditions
NOI Build-Up for 4,298 SF
Gross rent
$61.9K $14.40/SF
− Vacancy
−$2.5K −$0.58/SF
EGI
$59.4K $13.82/SF
− OpEx
−$26.7K −$6.22/SF
NOI
$32.7K $7.60/SF
Area
Dubuque County, IA
Vacancy
4.00%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$653,580
Cap Rate 7%
$466,843
Cap Rate 9%
$363,100
Alternative Uses
Best Use
Apartment 5plus
$466.8K
$408.5K – $544.7K
NOI $32,679 @ 7.0% cap · market cap 6.54%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$836.4K
$731.9K – $975.9K
NOI $58,551 @ 7.0% cap · market cap 11.71%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
636
Businesses Nearby
Explore this area
Business Placement
Demographics for 52001, IA
43,572
Population
20,102
Households
2.2
Avg Household Size
36
Median Age
30%
College-Educated
92%
High-School Grad
26.1 sq mi
ZIP Area
1,669
Density / Sq Mi
$60,882
Median Household Income
$35,571
Median Earnings
$916
Median Rent
$168,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Apartment building - 6 units with two bedrooms each and plenty of off-street parking, with separate gas meters for tenant billing flexibility.
Where is this apartment building located?
The property is located at 2340 Central Ave Dubuque, IA.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: Six units with two bedrooms each; Plenty of off‑street parking; Separate gas meters; owner currently pays for gas
