507 Scott St Council Bluffs, IA 51503
- Apartment buildings
- 7,520 SF
- 0.12 lot acres
Current Use by Public Records
- Apartment buildings
Property Details for 507 Scott St
- Year built
- 1921
- Lot size
- 0.12 lot acres
- Property size
- 7,520 SF
- Property type
- Apartment buildings
Description
This exceptional investment opportunity presents a fully occupied, 16-unit apartment building in Council Bluffs, Iowa. The property, situated on a 0.12-acre lot, boasts 7,520 square feet and features a two-story structure built in 1921. Recent renovations include new flooring, updated fixtures and electrical wiring, new windows and doors, fresh drywall, and new window air conditioning units. Plumbing upgrades include a new water heater. The building offers excellent value at $1,295,000, translating to $186 per square foot and $84,312.50 per unit. Its 100% occupancy rate ensures immediate cash flow. The property's prime location near numerous schools, including Iowa Western Community College, Creighton University, and several K-12 institutions, guarantees a consistent tenant pool. This meticulously maintained building presents a strong return on investment with significant upside potential. The permitted zoning is residential. This is a rare opportunity to acquire a well-maintained, high-occupancy multifamily property in a desirable location.
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
- Council Bluffs
- County
- Pottawattamie
- State
- Iowa
- Longitude
- -95.8503
- Latitude
- 41.2633
