CASH-Cow Updated 5plex!

1026 8th St. Boone, IA 50036

FOR SALE
Property Type:
MultiFamily Apartments
Amount:
$139,000
Last Verified:
Aug 13, 2020

Highlights

  • 40% of Units Updated
  • Actual Income/Expenses Utilized
  • 16.42% Cash-on-Cash Return

Description

The Katalyst Team as part of KW Commercial is pleased to offer for sale this converted 5plex located in Boone, IA. With two of the 5 units recently updated coupled with three long-term tenants who's average stay is 11+ years, this property is a cash-cow and offers not only immediate cashflow but also upside potential through renovations as tenants vacate.

Located in Boone, IA, Boone is the county seat for Boone County and boasts a population of 12,470 people. This property sits adjacent to Hyvee, Dollar General, and O'Reily Autoparts as well as being a walking distance from downtown Boone.


Year Built: 1903
Building Size: 3125.0sq ft
Lot Size: 0.07 acres

Map of 1026 8th St. , Boone, IA, 50036

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Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

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