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SOLD :Two 4 plex apartments for sale in Fairfax, IA

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

302 Reynolds St Fairfax IA-1 302 Reynolds St Fairfax IA-3

SOLD:Two 4 plex apartments for sale in Fairfax, IA

Multifamily Associates has listed two 4 plex adjacent apartments for sale.

4 PLEX at 320 Reynolds Street, Fairfax

BUILDING A

1 – 2br unit and 3 – 1br units

All electric with wall A/C

Tenant pays electric and water

Vinyl siding

Built 1979

Common laundry for both buildings

1 unit is leased housing

College Community Schools

Building A – Rent Schedule

1A – $530

2A – $450

3A – $282 Government plus $88 Tenant = $370

4A – $450

BUILDING B

4 – 1br units

Gas, heat, and central air (new 2011-2012)

Tenants pay gas, electric, and water

Brick exterior

Built in 1981

3 units are Leased Housing

College Community Schools

Building B – Rent Schedule

1B – Government $271 plus Tenant $99 = $370

2B – Government $339 plus  Tenant $31 = $370

3B – Government $303 plus Tenant $67 – $370

4B – $475

Contact us for more details and a property package

Skogman Commercial Group MultiFamily Associates(319) 360-6118
Multifamily Property For Sale
Fairfax Housing
302 Reynolds St, Fairfax, IA 52228
302 Reynolds St, Fairfax, IA 52228
302 Reynolds St, Fairfax, IA 52228
Price: $250,000
No. Units: 8
Building Size: 5,812 SF
Price/Unit: $31,250
Property Type: Multifamily
Property Sub-type: Garden/Low-Rise
Property Use Type: Investment
Commission Split: 3.5%
Cap Rate: 6.30%
Gross Rent Multiplier: 5.98
Occupancy: 97%
No. Stories: 1
Year Built: 1979
APN / Parcel ID: 20161-03013-01000
Last Verified 11/19/2013
Listing ID 18453773

 

Map of 302 Reynolds St, Fairfax, IA 52228 (Linn County)
Find out more about 302 Reynolds St, Fairfax

 

Description
Two adjacent 4 plex ranch style buildings in great condition in quiet park like setting. Great rental history, long time owners
SW of Cedar Rapids 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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