500 Layne Dr, West Burlington, IA 52655, USA
500 Layne Dr, West Burlington, IA 52655, USABasics
- Date added: Added 1 month ago
- Category: COMMERCIAL (5+ UNITS)
- Status: Active
- Year built: 2024
- County: Des Moines
- Price Per SQFT: $163.64
- Current Use: Residential
- DOM: 0
- MLS ID: 6326384
Description
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Description:
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. All units include in-unit laundry and are fully sprinklered, providing both tenant comfort and long-term operational safety. 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 meteringâresidents are responsible for electric, gas, and internetâhelping 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.
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Location
Building Details
- Garage Stalls: 8
- Water: City Water/Connected
Amenities & Features
- Available Utilities: Electric Separate,Heating Separate,Hot Water Separate
- Style: Apartment
- Parking Characteristics: Attached Garage,Paved Lot
- Exterior: Vinyl
- Heating: Forced Air
- Sewer: City Sewer/Connected
Miscellaneous
- Association: SEIA
- Yearly/Seasonal: Yearly
- Contingency: None
- Accessible: Reduced Height Counters,No Stairs Internal,Doors 36"+,Door Lever Handles,Roll-In Shower,Grab Bars In Bathroom,Fully Wheelchair,Roll Under Accessibility
- Fuel: Natural Gas
Fees & Taxes
- Tax Year: 2023
- Net Taxes: $2,786