1806 Main Street
Property Description
Huge new improvements happening now!! Quiet Cove: Well-maintained 11-unit multifamily in Fort Dodge, IA-10 one-bedroom + 1 two-bedroom units in excellent condition. 10 units leased (90.9% occupancy) generating steady income; 11th under remodel (new flooring) for quick market-rate re-rental-immediate upside. On >1 acre with: 1814 storage/conference room, community room w/ kitchen & bath (potential 12th unit conversion, subj. to approvals), on-site laundry (2W/2D), 17 dedicated parking spots. Low-maintenance cash flow in quiet community. Pro forma at 90.9% occ.: rents $73,582 + misc $8,470 = $82,052 gross. Expenses: known $26,434 + 10% mgmt ($8,205), 6% maint ($4,923), 5% contract (snow/lawn, $4,103) = $43,665 total; NOI $38,387; 8.35% cap rate at $459,900 ask. Come take a tour today.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $499,900 |
| No. of Units: | 11 |
| Lot Size: | 9,214.00 Sq ft |
| Opportunity Zone: | No |
| Price per unit: | $45,445 |
| Property Website | Click Here |
| Number of Bedrooms: | 12 |
| Number of Bathrooms: | 8 |
ID: 3yd-FDBORIA-28713
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