225 Clymer RD Hiawatha, IA 52233
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 5,250 sqft
Price per Sqft $161
MLS Listing ID 2600753
HOA Y/N No
Total Fin. Sqft 5250
Year Built 2026
Annual Tax Amount $464
Lot Size 9,539 Sqft
Acres 0.219
Property Sub-Type Multi Family
Property Description
Based on a purchase price of $850,000 and NOI of $65,600, the property is positioned at an approximately 7.72% cap rate, offering a compelling yield in a high-demand market. For investors focused on income, this is a clean, modern asset with built-in efficiency and strong long-term hold potential.
The property consists of three two-story units, each offering approximately 1,750 finished square feet with 3 bedrooms and 2.5 bathrooms. Units feature open-concept main levels, spacious living areas, modern kitchens, and dining spaces, along with white cabinetry, quartz countertops, stainless steel appliances, and durable LVP flooring. Each unit also includes a main-level half bath and sliding patio doors that add livability and tenant appeal.
Upstairs, each residence includes a private primary suite with a walk-in closet and ensuite bath, two additional bedrooms, a full hallway bathroom, and upper-level laundry. These functional layouts support strong tenant demand and help position the property for stable occupancy over time.
From an operational standpoint, this asset is designed for efficiency. With a brand-new roof, furnaces, air conditioning systems, appliances, and finishes throughout, investors should benefit from reduced maintenance exposure and lower near-term capital expenditure risk. All utilities are separately metered, creating better expense control and the ability to pass costs through to tenants, which helps preserve NOI.
The off-street parking lot offers ample parking flexibility, and with no HOA or restrictive covenants, the property provides the owner with broad management discretion, subject to local regulations and permitting. For investors seeking a low-maintenance, newly built asset with current income, predictable expenses, and a strong cap rate, this property stands out as an attractive addition to any portfolio.
Location
State IA
County Linn
Area Hiawatha/Robins
Zoning Res 3+
Interior
Interior Features InteriorFeatures
Heating Forced Air, Gas
Cooling Central Air
Fireplace No
Exterior
Parking Features Parking Space(s)
Utilities Available Separate Meters
Water Access Desc Public
Total Parking Spaces 6
Building
Foundation Slab
Sewer Public Sewer
Water Public
Structure Type Frame,Vinyl Siding
Schools
Elementary Schools Hiawatha
Middle Schools Harding
High Schools Kennedy
Others
Tax ID 11332-29002-00000
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
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