619 Layne Drive, West Burlington, IA 52655
Other
THB ฿78,661,415
USD $2,290,000
Published on: 15 Nov 2024
Last updated on: 16 Nov 2024
Property ID: 110095749026
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Residential Income, Duplex Side By Side - West Burlington, IA
619 Layne Drive, West Burlington, IA 52655
EXCEPTIONAL investment opportunity! Located in the thriving community of West Burlington, Iowa This newly constructed multifamily property features 9 LUXURY 2 bedroom, 2 bath condominium units. Each residence has been meticulously designed to offer the pinnacle of modern living, promising both comfort and elegance. Construction on these stunning units was completed in 2021. The property is currently fully leased. A monthly rent of $2,000 per unit, produces a gross rent of $216,000 annually, underpinned by a solid Net Operating Income (NOI) of $147,815, reflecting a desirable CAP rate of approximately 6.16%. The property boasts low vacancy rates, thanks to its prime location and high-demand luxury accommodations. Professional management is in place and willing to work with new owner. Seller is licensed to sell Real Estate in the State of Iowa.
Property Details
Basic Info
Basic Info
Property Type
Other
Listing Status
Active
Land Size
809.37 m2
Building Size
124.49 m2
Year Built
2021
Architecture Style
Other
County
Des Moines
Parcel ID
10-35-178-025
Provider
NoCoast MLS
Subdivision
WESTFIELD CONDOS SUB
Brokerage Office Name
Midwest Realty
Brokerage Office Phone
319-237-1139
Address
619 Layne Drive, West Burlington, IA 52655
Tax History
| Year | Tax amount | |
|---|---|---|
| 2021 | USD $35262 | THB ฿1,211,248* |
*Converted price in your currency provided by Open Exchange Rates. Exchange rates are subject to continuous change. Neither thinkofliving.com nor its affiliates guarantee that the conversion reflects current conversion rates and are not responsible for any inaccuracies. thinkofliving.com recommends that you independently verify any information before relying on it.
Contact Agent
John Mercer IV
Contact Agent
Contact Agent
Email enquiry to Midwest Realty
John Mercer IV
914 Broadway Suite 3, West Burlington, IA 52655
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Property ID: 110095749026
Data provided by NoCoast MLS, MLS #: 6323033
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