2107 Blairs Ferry Rd, Cedar Rapids, IA 52402
- Commercial real estate
- 16,093 SF
- 0.37 lot acres
Current Use by Public Records
- Commercial real estate
Property Details for 2107 Blairs Ferry Rd
- Year built
- 1968
- Lot size
- 0.37 lot acres
- Property type
- Commercial real estate
Description
This 12-unit apartment building presents a compelling value-add opportunity in Cedar Rapids, Iowa. Located at 2107 Blairs Ferry Rd NE, this three-story, 16,093 square foot Class B property boasts a strong 92% occupancy rate and a healthy net operating income (NOI) of $68,005, yielding an 8.00% cap rate. The asking price is $850,000, or $70,833 per unit. Built in 1968 on a 0.369-acre lot, the building features 24 parking spaces (two per unit), including eight single-stall detached garages. Recent improvements include a new roof and siding installed in 2023. Each of the 12 units offers two bedrooms and one bathroom. Utilities are handled through a RUBS system (Renters Utility Billing System). All leases have been recently updated. The property is zoned RES (Residential). This well-maintained property is ideally suited for a long-term owner seeking a stable investment with significant upside potential. The property's prime location off Blairs Ferry Road in Linn County, zip code 52402, offers convenient access to local amenities and transportation.
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Location Insight
- Map
- Local Demand
- City
- Cedar Rapids
- County
- Linn
- State
- Iowa
- Longitude
- -91.6706783
- Latitude
- 42.0345543
