22 5Th StKeokuk, IA 52632

Property Details for 22 5Th St

Year built

1900

Lot size

0.07 AC

Property size (Sq ft)

3,978 SF

Property type

Mixed-use properties

Property subtype

Other investment properties

APN

04-45-21-25-431-0170

APU

44521254310170

Description

This versatile Keokuk, IA property at 22 N 5th Street offers a unique blend of commercial and residential spaces, totaling 5,967 square feet. The main level features two vacant commercial units, ready for immediate occupancy and rental income generation. Upstairs, three apartments provide additional revenue streams: one efficiency unit rents for $350 per month, a second efficiency for $400 per month, and a one-bedroom unit for $425 per month. Each unit has its own electric meter and thermostat, ensuring individual tenant responsibility for utility costs. Heating is provided by baseboard units upstairs, and gas forced air heat on the main level and basement. The main level also benefits from central air conditioning, while window units serve the upper apartments. The building boasts significant recent upgrades, including a new roof installed in 2016 and a furnace and central air conditioning system updated seven years ago. Energy-efficient replacement vinyl windows are installed throughout. This property presents a compelling investment opportunity for those seeking a combination of commercial and residential income, offering both immediate returns and long-term potential. The asking price is $125,000.

• CAP approach

  CAP return

  Valuation

  6%

  $1,064,280

  6.5%

  $982,412

  7%

  $912,240

• Comparable approach

  Method

  Valuation

  Relative Method

  $310,125

  Geo Method

  $310,125

• Alternative Use

  Use

  Valuation

  Residential

  $1,218,191

  Hospitality

  $1,115,857

  Educational

  $928,380

  Medical

  $960,308

  Retail

  $1,444,146

Location Insight

City

Keokuk

County

Lee

State

Iowa

Latitude

40.3964

Longitude

-91.3827

CBSA code

22800

CBSA name

FORT MADISON-KEOKUK, IA-IL-MO MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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