2901 Central Avenue
MLS ID #153344
Asking: $3,663,000
Type: 5 Or More Units
Address: 2901 Central Avenue
City: Dubuque
State: IA
ZIP: 52001
Area: Dubuque Area
Class: Multi-family
County: Dubuque
General Information
# Units: 28
Garage Capacity: N/A
Garage Type: None
Year Built: 1896
Est Sq Ft Main Lvl: 8,922
Est Sq Ft Upper Lvl: 16,622
Est Sq Ft Lower Lvl: 7,265
Total Finished Sq Ft: 32,809
Parcel ID: 1013155016 & 1013155017
Lot Size: N/A
Yr Rents: $366000
Yr Gross: $366000
Yr Other: $N/A
Expenses Insurance: $30000
Expenses Management: $N/A
Expenses Taxes: $12670
Expenses Maintenance: $5000
Expenses Vacant: $N/A
Expenses Utilities: $10440
Expenses Other: $N/A
Est. Total Expenses: $58110
Est. Net Income: $307890
Unit 1 Rooms: 6
Unit 1 Bedrooms: 3
Unit 1 Baths: 2
Unit 1 Rent: $1640
Unit 2 Rooms: 4
Unit 2 Bedrooms: 2
Unit 2 Baths: 1
Unit 2 Rent: $1200
Unit 3 Rooms: 4
Unit 3 Bedrooms: 2
Unit 3 Baths: 1
Unit 3 Rent: $1200
Unit 4 Rooms: 4
Unit 4 Bedrooms: 2
Unit 4 Baths: 1
Unit 4 Rent: $1200
Unit 5 Bedrooms: 2
Unit 5 Baths: 1
Unit 5 Rent: $1200
Unit 6 Bedrooms: 2
Unit 6 Baths: 1
Unit 6 Rent: $1200
Unit 7 Bedrooms: 1
Unit 7 Baths: 1
Unit 7 Rent: $900
Features
Style: Other
Siding: Brick
Roof: Asp/Composite Shingle
Foundation: Rock
Basement: Full
Owner Pays: Trash
Tenant Pays: Water, Electric, Heat
Appliances: Refrigerator, Range, Dishwasher, Washer, Dryer
Cooling: Central Air
Fuel Type: Electric
Heat Type: Forced Air
Parking: Off Street
Terms: Cash, Financing
Description
Check out these GORGEOUS investment properties now available to add to your portfolio! Complete with 2 Large 3 Story Buildings totaling 28 Units plus a large parking lot with 40 plus spaces! These buildings have been completely renovated and remodeled all the way through, including all new water lines, new sewer lines, new electrical, new HVAC, new framing, new insulation, new windows, new plumbing, new roof, all new luxury cosmetics including, trim, doors, cabinets, appliances, light fixtures, plus a full sprinkler system and alarm system for both buildings! The apartments have a mix of 3 bedroom (3 units), 2 bedroom (16 Units), and 1 bedroom (7 units) plus two efficiency apartments to accommodate any size of tenants. All units are equipped with their own private laundry. Rent amounts vary from 600 to 1640 per month depending on size of unit. Currently 27 units are occupied with only 1 vacancy. Rents total approximately $30,500 per month when fully occupied. This property has a consistent rental history with a great cash flow for a potential investor. Buildings are completely code compliant per the city of Dubuque. Rental Inspections have all recently passed for 18 unit building. Rental Inspection for 10 unit building passed in 2021. Full rent rolls and financials available in associated docs. Old School Building Finished Sq Ft = 23,249. Old Convent Building Finished Sq Ft = 9,560. Tenants pay all utilities in all units. Owner Pays for Trash for buildings and electric for common areas. Sale Includes both 2887 Central and 2901 Central Avenue as well as the attached parking lot!
Click the photos to enlarge.
