709 & 711 Meadow Lane Ct. SE

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Address: 709 & 711 Meadow Lane Ct. SE
Created date: February 4, 2025
Date last updated: February 9, 2025

Property Description

Discover a hidden gem in the City of Mt. Vernon, Iowa. This 24-unit complex has been updated as needed, featuring 22 two-bedroom, one-bath units and two one-bedroom 1 bath units. The two-bedroom units average 900 square feet, while the one-bedroom units are around 700 square feet. There are also 12 detached garages, all of which are currently rented. This property presents a great value-add opportunity, as we have consistently demonstrated annual rent increases. With a low turnover rate among tenants, rent increases have been steady, albeit slow. There is still potential for further improvements and continued rental growth.

Key Property Information

Listing Status: Available
Listing Type: Call for offers
Property Types: Apartment Buildings
Price: $1,620,000
Year Built: 1971
Lot Size: 22,146.00 Sq ft
Opportunity Zone: No
Property Website Click Here
Number of Bedrooms: 0
Number of Bathrooms: 0
Address: 709 & 711 Meadow Lane Ct. SE, MtVernon, IA 52314, USA
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