Current Use by Public Records
- Countryside Apartments / Apartment Building / Apartment Complex
Property Details for 117 Walnut St
- Year built
- 1975
- Property type
- Apartment buildings
Description
This exceptional 18-unit apartment building presents a compelling value-add investment opportunity in Burt, Iowa. Located at 117 E Walnut St, 50522, this Class B property boasts a strong pro-forma cap rate of 9.67% and a pro-forma NOI of $52,214. Built in 1975 and partially in 1982, the building comprises a diverse unit mix including one studio, fourteen one-bedroom/one-bathroom units, two two-bedroom/one-bathroom units, and one three-bedroom/one-bathroom unit. The current average unit rent stands at $543, offering significant potential for rental growth through strategic renovations and property management improvements. The asking price is $540,000, translating to an attractive price per unit of $30,000. This property represents a solid foundation for building long-term wealth through rental income and potential appreciation. The property's location in Kossuth County provides access to local amenities and a stable rental market. This is an ideal opportunity for investors seeking a strong return on investment in a well-positioned multifamily asset. The property's size and unit diversity make it an attractive option for a variety of investor profiles. Serious inquiries are encouraged to explore this promising investment further.
Value Estimations
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Location Insight
- Map
- Local Demand
- City
- Burt
- County
- Kossuth
- State
- Iowa
- Longitude
- -94.2146
- Latitude
- 43.1975
