225 Clymer Road Hiawatha, IA 52233 • Multi Unit - Multiple • Active $775,000

Description

Some investments ask you to be patient. This one starts paying you on day one. 225 Clymer is a newly built Hiawatha multifamily with three side-by-side two-story units, and the numbers are easy to like. The rent roll is $6,500 a month, or $78,000 a year in gross income. Based on an estimated NOI of $65,600, the property works out to an approximate 8.46% cap rate on a building with no deferred maintenance waiting to surprise you. Buyers should verify all income and expense figures. The units are what keep it rented. Each one has about 1,750 finished square feet with 3 bedrooms and 2.5 bathrooms. The main level is open and bright, with a modern kitchen, white cabinetry, quartz countertops, stainless appliances, and durable LVP flooring. A half bath and sliding patio doors round out the main floor. Upstairs, tenants get a private primary suite with a walk-in closet and ensuite bath, two more bedrooms, a full hall bath, and laundry right where the laundry baskets are. It's the kind of layout that gets renewed leases. The expense side is just as clean. The roof, furnaces, A/C systems, and appliances are all new, so you're not budgeting for big replacements any time soon. Every unit is separately metered, which keeps your costs in check and helps protect your NOI. Off-street parking gives tenants plenty of room, and with no HOA or restrictive covenants, you run the property your way, subject to local regulations and permitting. If you want income that's already in place, a building that's easy to own, and a yield that holds up, this is a good one to add to the portfolio. Call to schedule a private showing and see it for yourself.

Property Highlights