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1559-1672 Ponds Edge Ct North Liberty, IA 52317

For Sale
$3,685,000

9-Unit Multifamily Investment Opportunity

Description

Added:
Dec 11, 2024
Days on Market:
361
This exceptional investment property in North Liberty, Iowa, presents a unique opportunity for builders and developers. Located at 1559-1672 Ponds Edge, this property encompasses nine existing condominium rental units within two buildings, situated on a four-acre lot zoned RM-8. Each of the existing units currently commands an approximate monthly rent of $2,000. The asking price of $3,685,000 reflects a breakdown of approximately $2,430,000 for the nine existing condo units (approximately $270,000 per unit) and $1,255,000 for the additional 27 undeveloped condo lots (approximately $46,481 per lot). The property is being sold as a single package. Built in 2003, this property offers significant potential for expansion. The RM-8 zoning permits the construction of four additional condo buildings on the remaining undeveloped land, presenting a substantial opportunity for future development and increased revenue streams. Detailed financial information, including a proforma and rent roll, is available upon request. This is a prime investment opportunity in a thriving Iowa community. The property's location in Johnson County, Iowa, zip code 52317, offers easy access to local amenities and transportation. This is a rare chance to acquire a multifamily property with significant upside potential.

Property Features for 1559-1672 Ponds Edge Ct

General Information

Property type
Multifamily properties
Lot Size
174,240 SF

Building Details

Year Built
2003
Units
9

HighLights

  • $3,685,000 asking price.
  • Nine‑unit apartment building on four acres.
  • Built in 2003.
  • RM‑8 zoning.
  • Includes 27 undeveloped condo lots.
  • Potential to build four additional condo buildings.
Property Profile Location Intelligence

Current Use by Public Records

Commercial real estate

Suggested Use

Realty agency Restaurant Spa & Massage Dental Office Nail Salon Clothing Store Building Supply Gym & Fitness Pharmacy Skin Care Clinic

Zoning and permitted uses should be independently verified with local authorities.

Location Insight

  • Map
  • Local Demand
City
North Liberty
County
Johnson
State
Iowa
Longitude
-91.619526
Latitude
41.7643749

FAQs

What type of property is this?
Multifamily property - 9-Unit Multifamily Investment Opportunity
Where is this multifamily property located?
The property is located at 1559-1672 Ponds Edge Ct North Liberty, IA.
What is the asking price?
The asking price for this property is $3,685,000.
What are key features of this property?
This property features: $3,685,000 asking price.; Nine-unit apartment building on four acres.; Built in 2003.
More about this property
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