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$515,000   Price Analysis
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50 W Broadway St Unit 1-6
Central City, IA 52214
Unknown bed 1 bath 5,000 SqFt ($103/SqFt)
Built 1960
Listed 2024-06-07		✓ USDA Eligible
near Central City, IA
 Restrictions may apply
due to home size

Value-add investment opportunity!

6-unit multi-family property for sale in Central City. Just blocks away from the grocery store and easy access to Hwy 13. Units 1 and 2 are one bedroom, Units 3 and 6 are two bedroom and Units 4 and 5 ar e three bedroom. Four of the units enter from outside with their own entrnces. 5 out of the 6 units are currently occupied with a lease out for review on the 6th unit.

There are two coin-operated washers and dryers that are available on the lower level producing additional income for the investor. There are three detached garages for tenant use that can be rented for $50/per month. Strong occupancy numbers with little to no vacancy over his 7 years of ownership. Financials and are available with a signed NDA.


Presented by Angie Glick at
GLD Commercial Real Estate Advisors.


Property MLS #202403357 from IowaCity

Total Bathrooms: 1
Full Bathrooms: 1

KitDiningRmComb
CableAvailable
EntranceFoyer
Flooring: Carpet, Vinyl

Dishwasher
RangeOrOven
Refrigerator
Dryer
Washer
Laundry Features: LaundryRoom

Basement Features: Slab
Basement Description: Slab

Heating Features: Baseboard

Deck

Garage Spaces: 4
Parking Features: DetachedCarport, OffStreet
Parking Total: 4

StreetLights
CloseToSchool
CloseToShopping
Community Features: StreetLights, CloseToSchool, CloseToShopping

Elementary School: CentralCity
High School: CentralCity
Middle School: CentralCity

Central City Elementary School is a public elementary school located approximately 0.7 miles away.
directions icon Map directions

Central City Junior High School is a public middle school located approximately 0.7 miles away.
directions icon Map directions

Central City High School is a public middle and high school located approximately 0.6 miles away.
directions icon Map directions

Gross Income: 57000

Association Fee Frequency: Annually
Association Fee Includes: Water

Number of Units: 6

Annual Tax Amount: 4430
Source Listing Status: Active
County: Linn
Directions: From Hwy 13 turn right on Al Waterhouse Ave then left on Marion Rd S. The building sits on the corner of W Broadway St and Marion Rd S.
Tax Year: 2022
Source Property Type: Residential
Area: OutOfArea
Source Neighborhood: OutOfArea
Zoning: R-3
Property Subtype: MultiFamily
Source System Name: C2C

Listed 2024-06-07
$515,000
IowaCity
Listed 2024-06-07
$515,000
CedarRapids

Operating Expense: 15417

Year Built: 1960
Above Grade Finished Area: 3000
BelowGradeFinishedArea: 2000
Construction Materials: Vinyl, Frame
Property Age: 64
Total Above Grade Sqft Area: 3000
Total Area Lower: 2000
Architectural Style: OneStory, TwoStories

CitySewer
CityWater

The property loan eligibility may be subject to additional requirements beyond geographical location including but not limited to the condition of the property. Speak with a real estate professional to find out more about the eligibility of a specific property.