2141 And 4 Waterloo, IA 50703

This exceptional investment opportunity presents a six-unit multifamily portfolio located at 2141 Logan Ave #1, 2, 3, and 4 in Waterloo, Iowa. The property consists of two single-family homes and two duplexes, totaling six units, all currently 100% occupied as of July 8, 2021, generating a substantial monthly income of $3,650. Built in 1940 and extensively renovated in 2020, this Class B property boasts a total of 58,700 square feet on a 58,700 square foot lot, zoned R4. The portfolio includes 20 parking spaces and a storage garage, adding further value. The property's strong financial performance is reflected in its impressive 8.64% cap rate and a Net Operating Income (NOI) of $43,200. The asking price is $499,900, representing a price per unit of $83,316.67. Water and sewer services are provided by Waterloo Water Works, with estimated quarterly costs of $75-$100. Annual well expenses are non-existent. Property insurance costs are approximately $2056 annually (replacement cost), and garbage disposal is $60 per month. Lawn maintenance was $780 in 2020. This is a corporate-owned property with no ground lease. Serious inquiries only. No showings unless an offer is made.