1204 Poplar St Leon, IA 50144
- Commercial real estate
- 0.24 lot acres
Current Use by Public Records
- Commercial real estate
Property Details for 1204 Poplar St
- Lot size
- 0.24 lot acres
- Property type
- Commercial real estate
Description
This exceptional investment opportunity presents a three-unit apartment building located at 1204 SE Poplar St, Leon, IA 50144. The property boasts 100% occupancy, generating a strong net operating income (NOI) of $12,148, resulting in an attractive 6.75% capitalization rate. Priced at $180,000, this represents a price per unit of $60,000. The building consists of two stories and sits on a 0.24-acre lot. Recent capital improvements have been made, enhancing the property's value and appeal. Situated in a quiet residential neighborhood, this multifamily property offers a stable income stream with significant value-add potential. The property is classified as a Class C multifamily building and is currently fully occupied, providing immediate cash flow. This is an ideal investment for those seeking a strong return on investment in a stable market. The property's excellent cash flow and value-add potential make it a compelling opportunity for both seasoned and new investors. The location in Leon, Iowa, offers a peaceful residential setting while still providing convenient access to local amenities. This turnkey investment is ready for a new owner to continue its success.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Leon
- County
- Decatur
- State
- Iowa
- Longitude
- -93.7437669
- Latitude
- 40.7311833
