1453 North 11th Avenue East, Newton, IA 50208 For Sale

CBRE is pleased to present the opportunity to acquire Courtyard Apartments, a 44-unit value-add multifamily community located in Newton, Iowa. The property features a diverse unit mix of 24-2BR/1BA and 20-3BR/1BA units across townhome style and apartment style buildings constructed in 1979, 1980, and 1984.

Courtyard Apartments is located approximately 30 minutes east of Des Moines in Newton, a growing Central Iowa community. Strategically positioned along Interstate 80 with convenient access to Interstate 35, Newton is widely recognized as the “Crossroads of the Midwest,” offering strong regional connectivity and commuter access.

Please click here for more information: https://www.cbredealflow.com/buyer/agreement?pv=Tx2aA51PC5A8V1gK115__mTio3DhHHidqh8P-TLH6hyufYBnJ2GVtL5QRHaNuWtW

Address: 1453 N 11th Ave E, Newton, IA 50208

List Price: $2,595,000

Price Per Unit: $58,977

Cap Rate: 8.58%

Year Built: 1979-1980, 1984

Number of Units: 44

Unit Mix: 24-2BR/1BA; 20-3BR/1BA

Total Building SF: 31,069

Avg. In Place Rent: $692

Number of Buildings: 6 + office/laundry

Number of Stories: 2 & 3

Parking: Surface

Parcel Size: 3.39 acres