This is a portfolio that has great opportunity with cash flow and CAP rate. Estimated cap rate currently is 10.01 % and fully rented estimated rate is 16.02 %. Included on one parcel is one 6-plex (821-31 Nebraska), one 4-plex (516-522 9th St) and one 3-plex (514 9th St). There are 10 - 3 bedroom apartments and 3 - 2 bedroom apartments. Many apartments have been recently updated with paint, electrical, misc. interior work and exterior work on the property. This includes privacy fences and security cameras. (Video and Audio). All three roofs were updated in the last 5 years. The owner pays water and heat (Boiler system) on the 6 unit property and 4 - unit property (Both Brick Units). The 3 plex has forced heat and owner ONLY pays water. There are currently 6 vacant apartments, with 5 ready to rent. These multiplexes are 2 story and 1 bathroom and a kitchen in each apartment. There are currently 2 units approved for section 8.
Legal:SIOUX CITY EAST N 1/2 LOT 11 & LOT 1 2 BLK 44
St. Luke's Unity Point - Children's Miracle Network
It is Miracle Miracle Homes month nationwide at RE/MAX. Did you know that a portion of all the Carlson Group's closings are donated to help kids in Sioux City and the Siouxland community at St. Luke's Unity Point? Learn more about how your home can be a MIRACLE HOME! Check out the Siouxland Magazine link to learn more about how you can impact children in need right here in Sioux City, IA!
The investment into downtown and entreprenuerial spirit in Sioux City has been on another level in recent years. In the January edition of Siouxland magazine, we highlighted the beautification through a pandemic in our inaugural installment of The Market Experience. Check out excerpts and insight into the art deco chique autograph collection property that is the Warrior Hotel and the beautiful resurgence of the Sioux City Motor Mart and Commerce Building now elegantly named Blue Bird Flats. Click link for the entire article!
The Re/MAX team recently played in the annual Sioux City Musketeers golf outing. Two Rivers Golf Course was in great shape and pro Rod Slater has put in significant effort in upgrading amenities. The Muskies are celebrating their 50th anniversary during the 2021-2022 season. The group Coach Strand brought in a next level class this year, with a number of players destined for the NHL. Travis Morgan is sure to have the Tyson Events Center ready to rock as Sioux City's beloved Musketeers take the ice. To learn more about the squad or grab tickets, click link.
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To learn about the difference between 821 Nebraska St and other properties around Midtown, just call RE/MAX Lakes Realty, home of the Iowa Great Lakes premier website, RE/MAX Preferred. Our real estate team will be happy to help you with your real estate home search in and around Sioux City, Iowa.
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