Luxury Multifamily Property in
For Sale
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619 Layne Dr, West Burlington, IA 52655
Newly constructed, fully leased multifamily property in West Burlington, Iowa.
Property Size1,340 SF
Price / SF$1,119
Days on Market911
Property Features for 619 Layne Dr
General Information
Standard status
Active
Size
1,340 SF
Class
A
Property subtype
Multifamily
Zoning
R-2
Building Details
Year Built
2021
Listing Agency:
Thrive Realty
(319) 572-5445
Listed By:
John Mercer · License #IA B67300050
Source:
Crexi
Added: Feb 23, 2024
Changed: Aug 21
Last Checked: Aug 21 at 11:09AM
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 Thrive Realty
Investment Insights
Based on property information with market context.
This multifamily property, located in West Burlington, Iowa, presents an investment opportunity. Constructed in 2021, the property features six condominium units, each offering two bedrooms and two bathrooms. The units are designed for modern living, combining comfort and elegance. Currently, the property is fully leased, with each unit generating a monthly rent of $2,000, resulting in an annual gross rent of $144,000. The property benefits from low vacancy rates due to its location and luxury accommodations. Professional management is in place and is willing to work with a new owner. The property size is 1340 square feet.
Key Highlights
- Fully Leased: Immediate income with 6 units occupied.
- High Rental Income: Generates $144,000 annually.
- Newly Constructed: Built in 2021.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
228
Businesses Nearby
Explore this area
Business Placement
Demographics for 52655, IA
4,438
Population
1,874
Households
2.4
Avg Household Size
45
Median Age
23%
College-Educated
93%
High-School Grad
17.5 sq mi
ZIP Area
254
Density / Sq Mi
$54,405
Median Household Income
$29,458
Median Earnings
$826
Median Rent
$138,700
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 - Newly constructed, fully leased multifamily property in West Burlington, Iowa.
Where is this apartment building located?
The property is located at 619 Layne Dr West Burlington, IA.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Fully Leased: Immediate income with 6 units occupied.; High Rental Income: Generates $144,000 annually.; Newly Constructed: Built in 2021.
