106 North Apartments
New Multifamily Listing | 48 Units | 10.12% Cap Rate | $37k/Unit | Fort Dodge, Iowa
Marketing description
Over $700,000 in Recent Capital Improvements
- Address: 106 N 10th Street, Fort Dodge, IA 50501
- List Price: $1,775,000
- Price Per Unit: $36,979
- Cap Rate: 10.12%
- Year Built: 1923
- Number of Units: 48
- Unit Mix: 18-Studio; 21-1BR/1BA; 2-1BR/1.5BA; 7-2BR/1BA
- Total Building SF: 34,608
- Avg. In Place Rent: $701
- Number of Buildings: 1
- Number of Stories: 6
- Parking: Surface
- Parcel Size: 0.23 acres
Investment highlights
CBRE is pleased to present the opportunity to acquire 106 North Apartments, a 48-unit apartment community located at 106 N 10th Street in Fort Dodge, Iowa. Fort Dodge serves as a regional employment and retail hub for north-central Iowa and benefits from a diverse economic base, including manufacturing, healthcare, and agriculture-related industries.
The property features a robust unit mix of studio, one-bedroom, and two-bedroom layouts. The asset presents a compelling value-add opportunity through continued interior unit upgrades and targeted capital improvements within the common areas. Select units have potential for modernization through finishes such as new flooring, updated cabinetry, appliances, and fixtures, allowing ownership to drive rental growth over time.
Please click here for more information: https://www.cbredealflow.com/buyer/agreement?pv=9ZJyUvQ75iBy_ovm46jFzhlu9xotAmXg4DFJSPw3GwxmjGTGb8N-iWTZitvmkk6z
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