73 Shaw St Lansing, IA 52151

This exceptional investment opportunity presents a two-unit duplex located at 73 Shaw St, Lansing, IA 52151, in Allamakee County. Built in 1960, this Class B multifamily property boasts a total of 2,684 square feet situated on a generous 15,180 square foot lot. The property features two large, recently renovated units, each offering ample living space. Specifically, the property includes five bedrooms and 2.5 bathrooms, along with a spacious open-concept kitchen, dining, and living area. Currently operating at 100% occupancy, the property generates a substantial net operating income (NOI) of $21,726, translating to an 8.20% cap rate and a price per square foot of $98.73. The asking price for this turnkey investment is $265,000, or $132,500 per unit. Each unit enjoys four parking spaces. The property is served by an artesian water system and is conveniently located within walking distance of local dining options and minutes from boat landings, capitalizing on the area's river town tourism. The property is zoned R and is subject to a ground lease expiring May 31, 2024. This value-add investment benefits from a rising rental market and increasing demand, making it an attractive addition to any portfolio. The property's APN is 0829301009.