Listed by Lepic-Kroeger, REALTORS
$750,000
8 Plex Solon Iowa
Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 6,400
Units 8
Cap Rate 7.67%
NOI $57,554
Occupancy 100%
Pro-Forma Cap Rate 9.86%
Pro-Forma NOI $73,934
Broker Co-Op Yes
Class B
Year Built 1908
Buildings 1
Stories 2
Acreage 0.220
Zoning RES
Parking Spaces 8 spaces
Parking Per SqFt 1.25
Investment Type Value Add
Ground Lease No
Multifamily | 8 Units | $93,750/unit
Marketing description
Situated in the heart of Solon, this 8-plex has a solid rental history and excellent potential for growth. Three of the units have been fully remodeled, while the remaining units are in great condition. The building consists of four units on the main floor and four on the second floor, each featuring two bedrooms and one bathroom, spanning a generous 800 square feet. Roof fully replaced, including the brick veneer, in 2020. Exterior freshly painted in 2025.
Investment highlights
Owners are Licensed Real Estate Agents in the State of Iowa.
Listing Contacts
Listed by Lepic-Kroeger, REALTORS
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$57,554.00
$4,796.17/mo
Valuation Metrics
0
DSCR
7.67%
Cap Rate
7.67%
ROI
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