Video tour
#2407332, Nick Wallraff, Listing Office: Keller Williams 1 Advantage
$3,500,000 List price
100 66th Ave SW Cedar Rapids, IA 52404
42,000 sqft
1.6 acres
$83 / sqft
Multi-Family
Property details
About 100 66th Ave SW
This is an exceptional chance to own a multifamily investment with significant upside potential. Spread across six buildings, each containing eight units, this 48-unit complex offers mostly 3-bedroom, 2-bathroom units with kitchens and living rooms. Each building features a common laundry, adding convenience for tenants and reducing operating costs. With pro forma projections estimating an average rental income of $1,200/month per unit and a conservative 50% expense-to-income ratio, this property is poised for impressive returns. The current owner has already invested in updating many units, with a reputable contractor ready to complete remaining renovations to maximize rent potential. Lease-up is currently underway, providing a solid start to cash flow for the new owner. Take advantage of the estimated $5.5 million ARV and secure this investment now while it’s on the path to stabilization. This property offers long-term growth potential in a market with high demand for quality rentals. Don’t miss this opportunity to acquire a potential high-yield asset with excellent projected returns.
Highlights
Home typeMulti Family
HeatingHot Water
StatusActive
CoolingWall/Window Unit(s)
Size42,000 sqft
Lot size1.612 Acres
Year built1978
ParkingParking Space(s)
MLS #2407803
Virtual tour
Summary
- MLS Number: 2407803
- MLS Name: CDR
- Office Name: SKOGMAN REALTY
- Office Phone: (319) 366-6427
- Office Email: cskogman@skogman.com
- Listing Agent: John Beardsworth
Provided Courtesy Of Cedar Rapids Area Association of REALTORS®. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information Is Believed To Be Accurate But Not Guaranteed.
Copyright 2025 Cedar Rapids Area Association of REALTORS®. All Rights Reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 3/15/2025, 10:20:48 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Get an agent. Get a mortgage. Save big.¹
$3,500,000
100 66th Ave SW
Sell your home with Rocket and save even more!
Seller rebate
0.5% sale price²
Price information
Property sales
| Date | Event | Price |
|---|---|---|
| Aug 02, 2021 | Home Sold | $3,100,000 |
| Dec 17, 2019 | Home Sold | $1,125,000 |
Tax history
| Year | Assessment | Property Tax |
|---|---|---|
| 2023 | $423,400 | $7,900 |
| 2021 | $356,600 | $9,128 |
| 2020 | $253,400 | $7,268 |
| 2018 | $229,700 | $7,094 |
History based on county public records data.
Nearby schools
3
Prairie Heights Elementary
Public District PK-4
0.6 mi
•190 76th Ave SW
2
Prairie Crest Elementary
Public District PK-4
0.8 mi
•301 76th Ave SW
3
Prairie Hill Elementary
Public District PK-4
0.9 mi
•151 Prairie Hill Ct SW
School ratings are a score out of 10, where 10 is the highest and 1 is the lowest.
Neighborhood
The neighbors living near this home have an average income of $34,593. Most Cedar Rapids, IA residents have annual incomes less than $<35k. The most common type of family is single, no kids. Most residents in this area have post secondary degree education.
How much money do the neighbors make?
51%
<35k
35%
35k-100k
13%
100k-200k
1%
200k+
What level of education do the neighbors have?
High School Diploma
Post Secondary Degree
Masters Degree
What types of families live nearby?
64%
Single, No Kids
8%
Single, with Kids
12%
Married, No Kids
16%
Married, with Kids
Are the neighbors home owners or renters?
Home Owners
Renters
How old are people in this area?
14%
<11 yrs old
7%
12-17 yrs old
51%
18-34 yrs old
23%
35-64 yrs old
5%
65+ yrs old
What do the neighbors do for fun?
College Football
Extreme Sports
Soccer
Where do the neighbors shop?
Best Buy
Express/Express For Men
Academy Sports & Outdoors
Where do the neighbors go to eat?
Texas Roadhouse
Sonic
Little Caesars
What do the neighbors drive?
Ram
Kia
Chevrolet
What do the neighbors listen to?
Contemporary Christian
New Country
Country
All data provided by Home Junction and Claritas
Similar homes for sale
Video tour
#2500822, Joshua Seamans, Listing Office: Cushman & Wakefield Iowa Commercial Advisors
This home is located at 100 66th Ave SW in Cedar Rapids, IA and zip code 52404 in the Lincolnway Village neighborhood. This 42,000 square foot home, which was built in 1978, sits on a 1.61 acre lot. Features: 0 bathroom. It has been listed on Rocket Homes since November 11, 2024 and is currently priced at $3,500,000.
While more than 16 listings in Cedar Rapids, IA in February 2025 were sold above asking price, there were more than 13 listings sold at asking price, and more than 65 were sold below. Between January and February 2025, Cedar Rapids, IA real estate market has seen decrease in the number of listings by 5%. In February 2025 median list price was $199,815 and the average listing age was 52 days.
From Rocket Homes Real Estate and based on county public records data.