3209 Renner Dr Council Bluffs, IA 51501

This exceptional 60-unit apartment complex, situated on a substantial 6.84-acre lot in Council Bluffs, Iowa, presents a compelling investment opportunity. The property, located at 3209 Renner Dr, boasts a prime location directly across from Lewis Central elementary school within the desirable Twin City neighborhood. The complex comprises seven multi-unit buildings, offering a diverse mix of floor plans: eight one-bedroom ranch-style units, twenty-eight two-bedroom row-home units, and twenty-four three-bedroom row-home units. Built in 1971, the complex encompasses 54,758 square feet and includes 90 parking spaces. The property's substantial lot size offers significant potential for future expansion, such as adding additional buildings, garages, or storage units to further enhance income streams. A large on-site garage currently serves as a maintenance shed and houses a coin-operated laundry facility, generating supplemental revenue. The high demand for units in this sought-after location, coupled with the potential for rent increases, makes this a truly attractive investment prospect. The property's APN is 7444 10 352 002. The asking price is $6,300,000, representing a price per unit of $105,000 and a price per square foot of $115.05. This property offers a strong combination of existing income and future development potential.