418 1St St Council Bluffs, IA 51503

Property Details for 418 1St St

Property size

2,460 SF

Property type

Small apartment buildings

Description

This exceptional investment opportunity presents a well-maintained duplex located at 418 S 1st St, Council Bluffs, IA 51503. The property boasts a total of 2,460 square feet and comprises two three-bedroom, one-bathroom units, each generating a monthly rental income of $1,400, totaling $2,800 per month. The property features separately metered utilities for efficient cost management, with the owner responsible only for water and trash services. A detached garage provides valuable off-street parking and storage space for tenants. This duplex offers a compelling 10.40% capitalization rate, with a net operating income (NOI) of $21,840. The property's prime location in central Council Bluffs provides easy access to downtown amenities, schools, parks, and shopping centers. Situated in a well-established neighborhood, it benefits from convenient access to major roads and public transportation, making it attractive to both commuters and residents. The strong sense of community and historical character of the area further enhance its appeal. This property presents a significant value-add potential through strategic updates and leasing strategies, making it an ideal investment for those seeking a strong return on investment in a desirable location. The asking price for this income-producing property is $210,000.