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 TypeMulti-Family
- NeighborhoodWestfield Condos Sub
- CountyDes Moines
- Taxes$0
- HOA/Condo/Coop Fees$0
- Days on Site107 Days
- MLS StatusActive
- MLS ID Number6314851
- Home Size Source N/A
- Year Built2021
- Lot Size0.2 Acres
- Full Baths9
- Partial BathsN/A
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