1416 Starview DrCedar Falls, IA 50613

Property Details for 1416 Starview Dr

Property type

Investment properties

Property subtype

Multifamily properties

Description

This exceptional Class A, two-unit multifamily property located at 1416 Starview Dr, Cedar Falls, IA 50613, presents a compelling investment opportunity. Currently boasting 100% occupancy, this newly renovated duplex offers a strong cash flow with a 10% cap rate. The asking price is $289,900, translating to $144,950 per unit. Each unit features a full kitchen and bathroom, making them highly desirable rental properties. The upper unit comprises four bedrooms, while the lower unit offers three bedrooms. Current monthly rental income totals $3175 ($1600 upper, $1575 lower). The property includes a double detached garage and a rear deck, adding to its appeal. Situated near a college campus, this duplex benefits from a strong rental market, attracting both students and families. The property sits on ground leased land, with the lease expiring on May 25, 2024. This turnkey investment is ideal for those seeking immediate income and strong return on investment. The property's recent renovations ensure minimal maintenance needs, maximizing profitability. Don't miss this chance to acquire a high-performing asset in a desirable location.

Location Insight

City

Cedar Falls

County

Black Hawk

State

Iowa

Latitude

42.5061

Longitude

-92.4624

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