2535 Central Avenue Dubuque, IA 52001

Building Details

Year Built

1920

Listing Agency Equity Real Estate Group

Listed by Marcus Anderson · License #Equity Real Estate Group

Source Crexi

Added: May 22 Checked: Jul 15 at 10:33 pm

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Investment Insights

Based on property information with market context.

Located in Dubuque, the property at 2535 Central Ave is a 19-unit multifamily property. The property has undergone extensive updates, which aim to reduce future maintenance costs and increase long-term efficiency and tenant appeal. All units, with the exception of Unit #5, feature electric baseboard heat installed in 2022, allowing tenants to pay their own electric expenses. Landlord expenses are limited to water and common area electric. Recent improvements include new windows throughout the building in 2022, new water lines throughout the building in 2023, and a new roof completed in 2024. Additional upgrades include a new forced air gas furnace with ductwork in the basement, replacement of the central water heater, repaired and painted soffits, a new gas line to Unit #16, and the rehab/addition of 5 apartments. This property offers investors the chance to step into a stabilized asset with upside and long-term durability.

Key Highlights

• Strong in‑place cash flow from 19‑unit multifamily property.
• Major capital improvements completed: new roof (2024), new water lines (2023), and new windows (2022).
• Tenants pay their own electric expenses (except Unit #5) due to electric baseboard heat installed in 2022.

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FAQs

What type of property is this?

Apartment building - 19-unit multifamily property with recent capital improvements in Dubuque, Iowa.

Where is this apartment building located?

The property is located at 2535 Central Avenue Dubuque, IA.

What is the asking price?

The asking price for this property is $1,050,000.

What are key features of this property?

This property features: Strong in‑place cash flow from 19‑unit multifamily property.; Major capital improvements completed: **new roof (2024), new water lines (2023), and new windows (2022).**; Tenants pay their own electric expenses (except Unit #5) due to electric baseboard heat installed in 2022.