Current Use by Public Records
- Land
Property Details for 1559-1672 Ponds Edge Ct
- Year built
- 2003
- Lot size
- 4.00 lot acres
- Property type
- Land
- Property subtype
- Apartment buildings
Description
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.
Value Estimations
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- North Liberty
- County
- Johnson
- State
- Iowa
- Longitude
- -91.6195
- Latitude
- 41.7644
