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8 unit – 2 bedroom apartment buliding for sale in Fairfax, IA

Posted 11/19/13 by Multifamily Associates and filed under:

117 Railroad St Fairfax IA-1MultiFamily Associates has just listed an 8 unit apartment building in Fairfax, IA

Contact us for more detailed information and a property package.

Details are:

8 PLEX at 117 Railroad Street, Fairfax

8 – 2 bedroom units

Gas, heat, central air

Tenants pay gas, electric and water

Vinyl siding

Built in 1992

Recently reinsulated

2 laundry areas

Most carpet replaced in the past several years

College Community Schools

This property is in section 42 tax credit program and has just started in 15 year extension.  Income guidelines apply for Tenants.  Some options may exist to terminate if desired.  More information available upon request.

Rent Schedule

6 units at $529 each

1 unit at $570

1 unit at $580

 

 

Skogman Commercial Group MultiFamily Associates(319) 360-6118
Multifamily Property For Sale
117 Railroad St Apartments
117 Railroad St, Fairfax, IA 52228
117 Railroad St, Fairfax, IA 52228
117 Railroad St, Fairfax, IA 52228
Price: $290,000
No. Units: 8
Building Size: 6,600 SF
Price/Unit: $36,250
Property Type: Multifamily
Property Sub-type: Government Subsidized
Property Use Type: Investment
Commission Split: 3.5%
Cap Rate: 7.40%
Gross Rent Multiplier: 5.40
Occupancy: 95%
No. Stories: 2
Year Built: 1992
Lot Size: 0.41 AC
APN / Parcel ID: 201612801700000
Last Verified 11/19/2013
Listing ID 18453753

 

Map of 117 Railroad St, Fairfax, IA 52228 (Linn County)
Find out more about 117 Railroad St, Fairfax

 

Description
8 – 2 bedroom units, tenants pay utilities. This property is in section 42 tax credit program and has just started in 15 year extension. Income guidelines apply for Tenants. Some options may exist to terminate if desired. More information available upon request.
Located SW of Cedar Rapids in Fairfax Iowa in College Community School district, close to shopping.

 

Skogman Commercial Group MultiFamily Associates(319) 360-6118
The information above has been obtained from sources believed reliable. While we do not doubt its accuracy we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness.
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