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24-Unit Apartment Community
New
For Sale
$2,000,000

325 West 18th Street, Washington, IA 52353

Residents have in-unit laundry, central air, private outdoor space, and secure building access.

Property Size34,704 SF
Lot Size2.61 Acres
Price / SF$57.63
Days on Market2
Rey
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Property Features for 325 West 18th Street

General Information

Standard status Active
Size 34,704 SF
Net Rentable 34,704 SF
Lot size 2.61 Acres
Property subtype Multifamily
Occupancy 100%

Financials

Asking Price $2,000,000
Average Monthly Rent $834

Units

Unit Mix 24 x 2BR/1BA
Multifamily Units 24

Additional Details

Highway Access Yes

Amenities

in-unit washer and dryer
central air
private patios/balconies
individual garages
secure building access

Building Details

Year Built 2006
Stories 3
Listed By: Ray Hamilton
Source: Cbre
Added: Oct 14 Changed: Oct 15 Last Checked: Oct 15 at 2:31AM

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 Ray Hamilton

Investment Insights

Based on property information with market context.

This three-story apartment property contains 24 two-bedroom, one-bathroom units, averaging 837 square feet each. Completed in 2006, the buildings include in-unit washers and dryers, central air, private patios or balconies, individual garages, and secure entry. New roofs were installed in 2023. The property totals 34,704 rentable square feet across 2.61 acres and includes 24 garages plus surface parking.

Located in Washington, Iowa, the community is near the junction of Highways 1 and 92 and approximately 30 miles from Iowa City. The surrounding employer base includes Modine Manufacturing and Syngenta, with Riverside Casino & Golf Resort and the University of Iowa Hospital also identified in the area.

Key Highlights

  • 24 apartments, all with two bedrooms and one bathroom
  • 34,704 rentable square feet; average unit size is 837 SF
  • Built in 2006; new roofs completed in 2023

Property Analytics

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Current Use

Apartment buildings

Suggested Use

Top Pick Restaurant Building Supply Auto Repair Shop Big Box & Wholesale Store Hair Salon Auto Parts Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

24
Residential units
100%
Occupancy
Yes
Highway access

Location Intelligence

Trade Area within ½ mile

19
Businesses Nearby

Demographics for 52353, IA

9,416
Population
3,995
Households
2.4
Avg Household Size
41
Median Age
22%
College-Educated
93%
High-School Grad
157.4 sq mi
ZIP Area
60
Density / Sq Mi
$63,232
Median Household Income
$36,062
Median Earnings
$912
Median Rent
$155,700
Median Home Value
Check the figures for this property Cap Rate, Value Estimation, Potential NOI and more
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Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022
7.5% 2023
7.8% 2024
8% 2025

Frequently Asked Questions

What type of property is this?
Apartment building - Residents have in-unit laundry, central air, private outdoor space, and secure building access.
Where is this apartment building located?
The property is located at 325 West 18th Street Washington, 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 apartments, all with two bedrooms and one bathroom; 34,704 rentable square feet; average unit size is 837 SF; Built in 2006; new roofs completed in 2023
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