Class A Apartment
For Sale
Contact for pricing
Pending
426 16th Street NW, Waverly, IA 50677
Turnkey 15-unit Class A building with in-unit laundry and elevator service, maintained to institutional standards.
Property SizeContact for details
Days on Market62
Property Features for 426 16th Street NW
General Information
Standard status
Pending
Class
A
Property subtype
Multifamily
Zoning
Residential (Mr R3+)
Occupancy
93%
Investment Type
Stabilized
Building Details
Year Built
2019
Buildings
1
Stories
2
Units
15
Tenancy
Multi
Listing Agency:
Berkshire Hathaway HomeServices One Realty Centre Waterloo
(319) 288-5382
Listed By:
Jared Hottle · License #S68688000
Source:
Crexi
Added: Jun 12
Changed: Aug 8
Last Checked: Jul 24 at 2:18PM
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 Berkshire Hathaway HomeServices One Realty Centre Waterloo
Investment Insights
Based on property information with market context.
Red Cedar Place is a 15-unit Class A apartment community completed in 2019. The two-story property includes 11 one-bedroom units and 4 two-bedroom units. Residents benefit from a hydraulic passenger elevator, in-unit washer/dryers, ADA-accessible bathrooms, and full fire-sprinkler protection.
The building is located one block from Wartburg College and minutes from downtown Waverly, Iowa. The property sits on a 0.57-acre site with approximately 6,700 square feet of concrete parking to support resident parking needs.
Currently, 14 of the 15 units are leased, with one unit immediately available for buyer inspection. With maintenance handled to institutional standards by the City of Waverly Low Rent Housing Agency, the community presents an operationally ready offering for an investor seeking a stabilized multifamily asset with an available unit to review during due diligence.
The building is located one block from Wartburg College and minutes from downtown Waverly, Iowa. The property sits on a 0.57-acre site with approximately 6,700 square feet of concrete parking to support resident parking needs.
Currently, 14 of the 15 units are leased, with one unit immediately available for buyer inspection. With maintenance handled to institutional standards by the City of Waverly Low Rent Housing Agency, the community presents an operationally ready offering for an investor seeking a stabilized multifamily asset with an available unit to review during due diligence.
Key Highlights
- 15‑unit Class A apartment community completed in 2019
- Unit mix: 11 one‑bedroom and 4 two‑bedroom units, served by a hydraulic passenger elevator
- In‑unit washer/dryers and ADA‑accessible bathrooms throughout
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
474
Businesses Nearby
Explore this area
Business Placement
Demographics for 50677, IA
12,789
Population
5,053
Households
2.5
Avg Household Size
37
Median Age
41%
College-Educated
95%
High-School Grad
128.6 sq mi
ZIP Area
99
Density / Sq Mi
$82,950
Median Household Income
$39,065
Median Earnings
$880
Median Rent
$221,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Turnkey 15-unit Class A building with in-unit laundry and elevator service, maintained to institutional standards.
Where is this apartment building located?
The property is located at 426 16th Street NW Waverly, IA.
What are key features of this property?
This property features: 15‑unit Class A apartment community completed in 2019; Unit mix: 11 one‑bedroom and 4 two‑bedroom units, served by a hydraulic passenger elevator; In‑unit washer/dryers and ADA‑accessible bathrooms throughout
