Multifamily property in Ankeny, IA
$275,000
1018 SE Uehlamar Dr, Ankeny, IA 50021
8.67
Cap Rate
23,838
NOI
Details:
Description:
Great duplex in a fantastic area of Ankeny, one of my favorite locations in the whole metro. The rent is low, even without the 3rd bedroom. I comped the rents at $1250-1300 existing and $1500-1600 with the 3rd bedroom. Both units are 2/1.5 right now. The basements are partially finished now, but there’s room to add a 3rd bedroom and increase the rent levels. Leases are up in Feb and Mar, so not much cashflow for a few months, but longterm numbers are fantastic, especially for Ankeny. Units were updated in the last few years, including new flooring, kitchens, bathrooms, etc. Also replaced one unit's HVAC system, and new roof this year.
Class B property in great location in Ankeny! Just 2 blocks from Elementary school in one of the best school districts in Iowa. Less than a mile away from middle school and newly built high school, and DMACC campus. Less than a mile from lots of shopping, restaurants and entertainment including both Delaware Ave and the Prairie Trail District! Also about a mile to Interstate 35, so a quick commute to anywhere in the metro. Talk about the perfect location!
Proforma
Caprate: 8.25%
ROI: 15.5%
Renovation: $15,000
Documents:
| Title | ||
|---|---|---|
| OM_-_1018_SE_Uehlamar_-_Better_Commercial.pdf |
Location
Gallery
