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27297745
27333043

515 Cedar St, Brandon, IA 52210

PS
IA B63101000
AW Commercial & Development
LM
IA S70812000
AW Commercial & Development
BK
IA S71492000
AW Commercial & Development
Listed by AW Commercial & Development
$1,100,000
247 days on market
Updated 45 days ago

Cedar Creek Apartments

Details
APN 1327307001
Property Type Multifamily
Sub Type Apartment Building, Investment (+1)
Square Footage 15,973
Units 14
Cap Rate 5.49%
NOI $60,365
Occupancy 95%
Pro-Forma Cap Rate 8.01%
Pro-Forma NOI $88,137
Price per SqFt $69
Broker Co-Op Yes
Class B
Year Built 2001
Buildings 3
Stories 1
Lot Size (SqFt) 81,345
Zoning Residential
Parking Spaces 14 per unit
Investment Type Value Add

Multifamily | 14 Units | Investment

Marketing description

Welcome to Cedar Creek East Apartments, a well-maintained 14-unit apartment community in Brandon, Iowa. Built in 2001 and 2005, this single-story complex offers a mix of (7) three-bedroom / one-bathroom units, (5) two-bedroom / one-bathroom units, and (2) one-bedroom units / one-bathroom, thoughtfully designed to accommodate a variety of living needs. Each unit includes in-unit laundry, garage parking, and zero-entry access, creating a comfortable and accessible living experience for residents. All units are separately metered with tenants paying for water, sewer, gas, and electric.

With its convenient location just off Interstate 380, the property offers quick connectivity to both Waterloo/Cedar Falls to the north and the Cedar Rapids/Iowa City corridor to the south. Residents enjoy the charm of small-town living while remaining within easy reach of major employment, education, and entertainment centers. Cedar Creek East Apartments presents a stable investment opportunity with modern amenities, strong tenant appeal, and a desirable location in Eastern Iowa.


Investment highlights

  • Close proximity to Waterloo/Cedar Falls and Cedar Rapids/Iowa City Corridor.

  • Built in 2001 & 2005

  • Additional Rental Income for Garage Parking

  • Major Value Add Opportunity

  • (7) Three-bedroom / one-bathroom units, (5) Two-bedroom / one-bathroom units, and (2) One-bedroom units / one-bathroom units

Listing Contacts

PS
IA B63101000
AW Commercial & Development
LM
IA S70812000
AW Commercial & Development
BK
IA S71492000
AW Commercial & Development
Listed by AW Commercial & Development

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$
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$60,365.00
$5,030.42/mo

Valuation Metrics

0
DSCR
5.49%
Cap Rate
5.49%
ROI

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Additional Information

Name
Lindsey McEnaney
License
S70812000
Brokerage Phone
3192692477
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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