Class A Apartment
426 16th Street NW, Waverly, IA 50677
For Sale
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Pending
Turnkey 15-unit Class A building with in-unit laundry and elevator service, maintained to institutional standards.
Property SizeContact for details
Days on Market153
Property Features for 426 16th Street NW
General Information
Standard status
Class
Property subtype
Zoning
Occupancy
Investment Type
Building Details
Year Built
Buildings
Stories
Units
Tenancy
Listing Agency:
Berkshire Hathaway HomeServices One Realty Centre Waterloo
Listed By:
Jared Hottle · License IA S68688000
(515) 664-1131
Source:
Crexi
Added: Jun 12
Changed: Oct 31
Last Checked: Nov 10 at 6:04AM
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
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Investment Insights
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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
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Location Intelligence
Trade Area within ½ mile
488
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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
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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
