1541 5th SE Ave Cedar Rapids, IA 52403-1258
Property profile & analytics
1541 5th SE Ave, Cedar Rapids, IA 52403-1258
- Residential income homes
- 3,360 SF
- 0.13 lot acres
Property ID
US25-0060619
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- Residential income homes
Property Details for 1541 5th SE Ave
- Year built
- 1961
- Lot size
- 0.13 lot acres
- Property type
- Residential income homes
- Property subtype
- Small apartment buildings
- APN
- 14-22-3-05-006-0-0000
- APU
- 142230500600000
Description
This exceptional investment opportunity presents a four-unit apartment building located at 1541 5th Ave SE, Cedar Rapids, IA 52403. The property, built in 1961 and extensively renovated in 2020-2023, boasts 3,360 square feet of net rentable space situated on a 5,600 square foot lot. The building comprises three two-bedroom, one-bathroom units and one one-bedroom, one-bathroom unit, currently operating at 100% occupancy. Recent improvements include a new roof (2023), new sewer line (2022), and a new concrete walkway (2022), along with unit upgrades completed between 2021 and 2022. The property generates a substantial net operating income (NOI) of $19,569, resulting in an attractive 8.70% capitalization rate. The asking price is $225,000, translating to $56,250 per unit and $66.96 per square foot. The property is zoned RES 3+ Units and features on-site coin-operated laundry. While marketed individually, it's part of a larger portfolio of 16 units across seven properties. A seller carryback option may be available to qualified buyers. This is a value-add opportunity with potential for increased rental income given current market rents of $800 for two-bedroom units and $700 for one-bedroom units in the area, exceeding current average rents of $702.
Value Estimations
based on Realmo’s proprietary methodology
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Alternative Use
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Location Insight
- Map
- Local Demand
- City
- Cedar Rapids
- County
- Linn
- State
- Iowa
- Longitude
- -91.6488
- Latitude
- 41.9823
- CBSA code
- 16300
- CBSA name
- CEDAR RAPIDS, IA METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2022
$3,166
$12,600
$169,100
$181,700
-
$12,600
$169,100
$181,700
