619 Layne Dr West Burlington, IA 52655
- Apartment buildings
- 1,340 SF
- 0.20 lot acres
Current Use by Public Records
- Apartment buildings
Property Details for 619 Layne Dr
- Year built
- 2021
- Lot size
- 0.20 lot acres
- Property size
- 1,340 SF
- Property type
- Apartment buildings
Description
Exceptional investment opportunity in West Burlington, Iowa. This 2021-built Class A multifamily property comprises nine luxury two-bedroom, two-bathroom condominium units, each meticulously designed for modern living. The 1,340 square foot building sits on a 0.2-acre lot (APN: 10-35-178-025) and is currently fully leased, generating a gross annual rent of $216,000 ($2,000 per unit). A strong net operating income (NOI) of $147,815 yields a desirable cap rate of approximately 6.16%. Low vacancy rates are ensured by the prime location and high-demand luxury accommodations. Professional management is in place and prepared to continue operations under new ownership. This turnkey investment offers a compelling return on investment with minimal vacancy risk. The property is located at 619 Layne Dr, West Burlington, IA 52655. The asking price for this exceptional property is $2,290,000.
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- West Burlington
- County
- Des Moines
- State
- Iowa
- Longitude
- -91.1747
- Latitude
- 40.82
