507 Scott StCouncil Bluffs, IA 51503

Property Details for 507 Scott St

Year built

1921

Lot size

0.12 AC

Property size (Sq ft)

7,520 SF

Property type

Residential income properties

Property subtype

Multifamily properties

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.

Location Insight

City

Council Bluffs

County

Pottawattamie

State

Iowa

Latitude

41.2633

Longitude

-95.8503

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