USAIACedar Rapids806 15Th Ave Sw
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$1,900,000

For Sale

4 months ago

806 15Th Ave Sw, Cedar Rapids, IA

House

MLS® 12681768

0 Bed

0 Bath

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  • Key Facts
  • Description
  • Map

Key Facts

Type 
Levels Commercial Sale
Size -
Garage 
Taxes $17,520
Days Active 105
Lot Size 0.66 Acres
Approx. Age 1968
MLS® Number 12681768

Property Address: 806 15th Ave Sw, Cedar Rapids, IA, 52404-2659

Average square foot calculated using Size range provided by listing agent.

Description

Blue Jay Apartments offers the opportunity to acquire a 30-unit multifamily investment property in southwest Cedar Rapids, IA. The four-building complex features a desirable mix of 14 one-bedroom and 16 two-bedroom apartments, ample off-street parking, and common area laundry facilities. Conveniently located near the 1st Avenue retail corridor, the Property provides easy access to shopping, healthcare, restaurants, major employers, and transportation routes throughout the Cedar Rapids metro area. Current ownership has completed significant capital improvements, including new roofs, gutters, soffits, and vinyl siding since 2021, along with replacement of all four boilers in 2024. Approximately 90% of the units feature updated luxury vinyl plank flooring, and laundry equipment continues to be upgraded, reducing future capital needs for the next owner. The Property benefits from Cedar Rapids' diverse employment base and ongoing economic growth, including major data center developments currently under construction nearby. Current rents provide the opportunity for future revenue growth through continued interior updates, strategic rent increases, and potential implementation of RUBS. Offered at $1, 900, 000, Blue Jay Apartments presents an attractive opportunity to acquire a well-cared-for workforce housing asset with stable occupancy, recent capital improvements, and value-add potential.
MLS® Number12681768
Laundry Level
Central VacNo
FireplaceNo
Acreage
Exterior
Garage
Approx. Age1968
Basement
Driveway
Garage Spaces
Heat
A/C

Extras

Price History

-End Date
Not Sold YetSold Price

For Sale

Jun 18, 2026List Date
$1,900,000List Price
  • Commute

Commute

Starting Address
Destination Address
806 15Th Ave Sw, Cedar Rapids, IA

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