Gomberg Report >
Iowa

Updated 7/25/2012
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Town
Property Description
Asking Price
Gross Income
Gross Multiplier
PPU
Comments
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Burlington
72 unit
2.75M
85% Financing Available
NOI=308K
38,194
Low maintenance Brick buildings in great location have consistently been 99% occupied. Vacant apartments are rented before tenants move out. Owner took over management 1/1/2011 and rental income increased dramatically since then.
Richard Ryan 563-459-4434
Cedar Rapids
74 unit
2.795M
85% Financing Available
NOI=252K
37,770

Nice mix of 1 and 2 bedroom units. Property has been well managed and maintained over the years. Close to tenant conveniences.

Darin Garman 319-350-5378
68 unit
3.247M
85% Financing Available
NOI=324K
47,750

Nice units with a two bedroom bath and a half mix with one bedroom units. Garages as well. Consists of three properties that are being combined in one sale. All units have been well maintained and managed

Darin Garman 319-350-5378
Council Bluffs
100 unit
4.9M
85% Financing Available
NOI=372K
49,000

Newly renovated (2011 completion) low vacancy (95% leased 2011 average) complex. One, two and three bedroom units. Vacant land will allow 24 more units. Bordered on the sides by trees and other vegetation.

Jon Kerkhoff 402-548-4008
Waukee
96 unit
NOI=312K
50,000
Apartment complex situated on 6.25 acres with 4 1BR and 92 2BR units. Very low vacancy.
Eric Sheldahl 515-210-9400