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24 Units Mt Vernon, Iowa

We just saw a new listing come thru for 24 units in Mt Vernon Iowa. Asking price $1,200,000 Really nice complex in great condition. Lots of updates We have the numbers let us know if you would like more information.

When To Sell ???????

  Real estate is cyclical. Typical cycles last 7-10 years. We have both been in the real estate business 40+ years and have been thru 3 of these cycles. In the late 1970’s we sold a lot of product at Cap rates of 9 to 10. The market changed drastically in the early 1980’s driven by skyrocketing interest rates and…

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Competition from Subsidized Housing

Community Development Block Grant and other incentive programs have spurred a significant number of new subsidized units. These programs incentivize builders with grants and tax credits that reduce the construction cost provided that they rent a percentage of the units to lower income Tenants. Problems can occur if there are a lack of tenants that qualify for the subsidized units….

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Leased Investment Opportunity 317 Hickory St, Anamosa Very nice newer all steel building Priced at $139,000 this 3 tenant building  has a mix of Residential and Commercial Tenants Includes a barber shop and an Insurance agency as well as a nice 1 bedroom apartment Potential to increase income. Call or email for details Mike Shaffer, 319-360-6118 or mjshaffer@ccim.net

INCREASING OCCUPANCY Part II

Be sure your units put their best foot forward. Are they clean? Carpet and appliances in good condition? Fresh paint? How is your signage? Up to date and in good condition? Does it have good contact information including website and email. How about entries and common areas? No matter how nice the units are if the halls, parking, laundry and…

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Increasing Your Occupancy

It’s critical to keep up with the competition and they are increasing the use of social media, websites, Facebook, etc. Make sure your website ranks well on Google and other search engines because if potential tenants see the competition first, you risk never even being considered. If you don’t have a website, get one, and post pictures and floorplans of…

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Apartment Opportunity

We just ran across  96 units in Charles City Iowa just north of Cedar Falls. $1,550,000. That is only $16,145/unit. Mix of 1,2,3 Bedroom units. We just received the financials from listing broker and are reviewing them. Give us a shout if you would like more info Mike and Bob Multifamily Associates, Skogman Commercial

CITY OF CEDAR RAPIDS HOUSING SURVEY

CITY OF CEDAR RAPIDS HOUSING SURVEY Late last fall, the city received the latest update to their comprehensive housing market analysis. This study updates demand from 2016 – 2025. A couple key points we have noted: Demand for new housing of 2,936 units for balance of the decade (owned and rented) Rental vacancy rate of 2.4% at time of study Cedar…

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Pineview Apartments 640_16th_Ave_SW

Pineview Apartments… Sold…640 16th Ave SW Cedar Rapids IA 52404

Sold: Pineview Apartments Located at 640 16th Ave SW Cedar Rapids IA 52404 18 One Bedroom units, fully rented $360,000 over 9% CAP rate and 4.35 GRM Download a full property package by completing the form below More photos and details below PROPERTY DESCRIPTION   BUILDING: This is a 2½ story brick building, with 18 one bedroom units. Each unit is…

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Sold: JD Apartments 173-177 16th Ave SW Cedar Rapids Iowa

We have just listed two 8 unit apartment buildings at 173 and 177 16th Ave SW, known as the JD Apartments. There are 16 one bedroom units and each building has a good rental history. Numerous updates in the past few years including air conditioners, roofs, electrical panels and more! Listed at $298,000 with over a 9% CAP rate. Contact…

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