557 6th Ave S - Apartments FOR SALE


Clinton, IA 52732
$139,000 USD
563-242-4602
557 6th Ave S, Clinton, IA for Sale
$139,000 USD
Apartments - FOR SALE
1/24
null | Request Cap Rate

557 6th Ave S
Clinton, IA 52732


OVERVIEW

Welcome to a well-cared-for triplex that offers dependable income and low-maintenance ownership. Located close to major employment centers, shopping, dining, the YWCA, and the community pool, this property consistently attracts renters looking for convenience and accessibility. With a current monthly income of $2,000, plus long-term tenants in two units and a newly placed tenant at $800/month, this building provides immediate revenue with room for upside. Utilities are simple, with water averaging $50/month, sewer $99/month (including trash), and the common area electric averaging only $25/month. Gas is billed back to tenants via RUBS, keeping owner expenses predictable. The property has been well-maintained over the years, benefiting from less deferred maintenance compared to similar buildings. Recent updates include fresh interior paint throughout-Unit 3 received a full repaint-as well as new bathroom flooring in Unit 3. The exterior has also been completely painted, and the deck was recently replaced (per the city inspector) and newly sealed with wood stain. The roof was inspected during another project and confirmed to be in good condition, with no replacement needed. This is an excellent opportunity for investors looking for a stable, well-kept asset or those considering house hacking.

FOR SALE DETAILS

PRICE

$139,000 USD

PRICE/SF

$45 USD /SF

# OF UNITS

3

PRICE/UNIT

$46,333

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1900

PARKING SPACES

-

LAND DETAILS

LAND ACRES

-

LAND SF

-

ZONING

-

APN/PARCEL ID

80-2000-0000

ASK ABOUT THIS PROPERTY

Brian ThomasRuhl & Ruhl RealtorsMore Info
563-242-4602

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Brian ThomasRuhl & Ruhl RealtorsMore Info
563-242-4602

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.