Listed by MMGREAIA LLC, MMG, MMG Real Estate Advisors
$6,200,000
Lions Gate
Details
APN 0834105005
Property Type Multifamily
Sub Type Apartment Building
Square Footage 31,836
Units 38
NOI $428,929
Occupancy 97%
Tenancy Multi
Class A
Year Built 2019
Buildings 1
Stories 3
Acreage 0.960
Parking Spaces 62 spaces
Parking per 1,000 SqFt 1.95
Investment Type Stabilized
Multifamily | 38 Units I 6.6% CAP Rate
Marketing description
As exclusive advisor, MMG Real Estate Advisors is pleased to offer the opportunity to purchase Lions Gate, a 38-unit community located in Newton, Iowa. Constructed in 2019, the property offers modern construction and high-quality finishes, providing its residents with an elevated living experience in one of Central Iowa's growing secondary markets. Lions Gate is located in the Des Moines MSA, while also near the Iowa Speedway and Newton's Downtown District, offering convenient access to local employers, everyday necessities, and entertainment. This asset provides investors with a stabilized, low-maintenance investment opportunity with continued upside through rent growth.
Investment highlights
- Strong Revenue Growth Opportunity Proven by Historical Performance
- Muted Supply Driving Market Rent Growth
- Best-In-Class Asset with Modern Unit Features
- Unique Pre-Set Tax Increment Financing Benefits
- Prime and Strategic Location with Strong Connectivity
- Offered Free and Clear of Existing Debt
Listing Contacts
Listed by MMGREAIA LLC, MMG, MMG Real Estate Advisors
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$428,929.00
$35,744.08/mo
Valuation Metrics
0
DSCR
6.92%
Cap Rate
6.92%
ROI
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