1571 Bluff St Dubuque, IA 52001
- Commercial real estate
Current Use by Public Records
- Commercial real estate
Property Details for 1571 Bluff St
- Year built
- 1880
- Property type
- Commercial real estate
- APN
- 1024329040
Description
This well-located Dubuque, IA, multifamily property offers a compelling investment opportunity. The 4,866 square foot building, constructed in 1880, features five units: one 3-bedroom, 1-bathroom unit and four 2-bedroom, 1-bathroom units. Three units have been recently updated with hardwood floors, new appliances, and updated electrical systems, while two units are ready for renovation, presenting a significant value-add potential. Currently operating at 80% occupancy, the property generates a Net Operating Income (NOI) of $24,723, representing a 10.75% capitalization rate. Pro-forma NOI is projected at $47,523, yielding a 20.66% capitalization rate. The property's prime location near downtown Dubuque provides easy access to amenities and public transportation, ensuring high tenant demand. The asking price is $230,000, or $46,000 per unit. The property is zoned M and has a Dubuque County APN of 1024329040. This two-story building presents a strong return on investment with significant upside potential through further unit upgrades and increased occupancy. This is a rare opportunity to acquire a multifamily property in a desirable location with immediate cash flow and substantial long-term growth prospects.
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
- Dubuque
- County
- Dubuque
- State
- Iowa
- Longitude
- -90.671848422874
- Latitude
- 42.506759602558
