704 E Mapleleaf Dr - Apartments FOR SALE


Mount Pleasant, IA 52641
$2,700,000 USD
515-314-1715
704 E Mapleleaf Dr, Mount Pleasant, IA for Sale
$2,700,000 USD
Apartments - FOR SALE
1/22
null | 8.59% Cap Rate

704 E Mapleleaf Dr
Mount Pleasant, IA 52641


HIGHLIGHTS

  • 100% Project Based Section 8 Option 2 HAP contract
  • Last NSPIRE inspection score was 97
  • Walking distance to several major employers

OVERVIEW

CBRE is pleased to offer the opportunity to acquire Mapleleaf Apartments, a 48-unit apartment community located in Mount Pleasant, Iowa. Mt. Pleasant is home to numerous agriculture, manufacturing, and logistics companies and located at the junction of Hwy 34 and Hwy-218 in Southeast Iowa, 50 miles directly south of Iowa City. This property is owned and well-maintained by the original developer. The property is located within a 5-minute drive to major employers including Walmart Distribution Center, Walmart Supercenter, Hearth & Home Technologies, Continental, Cornerstone Building Brands, Beck’s Hybrids, Golden Eye Distributing Company, and Innovairre. Mapleleaf Apartments is a senior or disabled designated 100% Project Based Section 8 community with 5 years remaining on an Option 2 HAP contract. The last NSPIRE inspection was conducted 5/7/2025 and scored a 97. Please click here for more information: https://www.cbredealflow.com/buyer/agreement?pv=BlvyHeRmV_hDLE_0W-LsOGYPQ8OQZ30aTh_LOX6Y1q3-Ka2hVEbeebdvnrHvheRs

FOR SALE DETAILS

PRICE

$2,700,000 USD

PRICE/SF

$38 USD /SF

# OF UNITS

48

PRICE/UNIT

$56,250

CAP RATE

8.59%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Mapleleaf Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1979

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.75 AC

LAND SF

76,230 SF

ZONING

-

APN/PARCEL ID

412081010100200

ASK ABOUT THIS PROPERTY

David EckleyCBREMore Info
515-314-1715

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

David EckleyCBREMore Info
515-314-1715

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