230 High Ave Oxford, IA 52322
- Apartment buildings
- 9,594 SF
- 0.47 lot acres
Current Use by Public Records
- Apartment buildings
Property Details for 230 High Ave
- Year built
- 1972
- Lot size
- 0.47 lot acres
- Property size
- 9,594 SF
- Property type
- Apartment buildings
Description
This well-maintained, three-story apartment building in Oxford, Iowa presents a compelling value-add investment opportunity. Located at 230 N High Ave, this 1972-built property (renovated in 2005) offers 12 units within 9,594 square feet of net rentable space, boasting a current 100% occupancy rate. The building sits on a 0.47-acre lot and includes 18 parking spaces. The property is zoned R3 and features luxury vinyl plank flooring in the hallways and ceramic tile in the units. The current NOI is $107,074, yielding an 11.27% cap rate, with a pro-forma NOI of $95,320 and a pro-forma cap rate of 10.00%. The asking price is $950,000, translating to $79,167 per unit and $99.02 per square foot. This multifamily property offers a strong income stream and significant potential for future growth, making it an attractive addition to any investment portfolio. The property's consistent occupancy and prime location in Johnson County, Iowa, further enhance its investment appeal.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Oxford
- County
- Johnson
- State
- Iowa
- Longitude
- -91.7934
- Latitude
- 41.7257
