Listed by Structure Real Estate
$1,495,000
Lindell Motor Lodge
Details
Property Type Multifamily
Sub Type Apartment Building
Units 15
Cap Rate 7.38%
NOI $110,400
Occupancy 40%
Broker Co-Op Yes
Class B
Year Built 1976
Year Renovated 2024-2025
Buildings 1
Stories 2
Acreage 0.400
Zoning DT-Urban General
Investment Type Stabilized
Multifamily | 15 Units | $99,667/unit
Marketing description
Renovated Roadside Motor Lodge in GREAT DOWNTOWN CEDAR FALLS location. This property is currently run as a mix of short term and long term rentals within the 15 available units. There is an office room that is unused, mechanical room with bathroom and laundry hookups with additional laundry facility upstairs that current owners have not utilized. This property includes 2 separate lots and has great current income with solid future redevelopment potential. Property is in the core of downtown Cedar Falls which provides 10 years of TIF for redevelopment.
Investment highlights
NOI - $110,400
15 Units
Redevelopment potential with 10 year TIF
Listing Contacts
Listed by Structure Real Estate
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$110,400.00
$9,200.00/mo
Valuation Metrics
0
DSCR
7.38%
Cap Rate
7.38%
ROI
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