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$9,000,000
500 Layne Drive, West Burlington, IA 52655
bedrooms
bedrooms
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bathrooms
bathrooms
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square feet
square feet
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acreage
Acreage
-
open houses
Open Houses
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year built
year built
2024
full baths
Full Baths
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half baths
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Now available is a newly constructed Class A multifamily property completed in 2024, featuring 52 high-quality residential units in a strong Southeast Iowa location. This turnkey asset offers a balanced unit mix consisting of (8) three-bedroom, 2.5-bath units, (24) two-bedroom, one-bath units, and (20) one-bedroom, one-bath units. Each apartment is outfitted with premium finishes including soft-close cabinetry, luxury vinyl plank flooring, energy-efficient Pella windows, and individual HVAC, plumbing, and electrical systems. The property is thoughtfully designed with community in mind, offering amenities such as a dog park, playground, and ample green space. Tenants enjoy the convenience of in-unit laundry, while ownership benefits from separate utility metering—residents are responsible for electric, gas, and internet—helping to reduce overhead and increase NOI. Strategically located near Southeast Iowa Regional Hospital and major retail corridors, the property is well-positioned to attract strong tenant demand. Current market rents are set at $1,900 for three-bedroom units, $1,275 for two-bedroom units, and $975 for one-bedroom units, reflecting strong income potential in a low-vacancy submarket. This is a rare opportunity to acquire a newly built, low-maintenance multifamily asset with modern systems, durable construction, and immediate income. Seller is licensed to sell real estate in the State of Iowa.
Location
Subdivision -
County Des Moines
Elementary School -
Middle School -
High School -
driving directions Driving directions
open houses Open houses
None scheduled.
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MLS number: 6326384
Listing agent: John Mercer Iv #***
Listing broker: Midwest Realty (319) 237-1139
Copyright © 2025 NoCoast MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.   [source]
Last update: Tuesday, April 8 2025 at 4:09 p.m. EDT
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