Property summary
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.
Property profile
VerifiedCap rate & NOI
Location
Value estimations
Owner & transaction history
Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Value estimation
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from $99/month
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
from $99/month
Property description
Physical attributes from public recordsZoning & alternative use
Zoning
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No zoning code is on file for this parcel. Zoning coverage grows with every catalog release — check back, or open Location Intelligence for use analysis of this corner.
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