1630 1st Ave Ne, Cedar Rapids, IA 52402

A truly unique value-add investment opportunity with clear paths to achieving a valuation exceeding $700,000. The property features six residential rental units and two commercial spaces. All six residential units are currently leased, with significant potential for rent increases, while the lower level remains vacant—offering a new owner flexibility in determining the best renovation strategy. Potential uses include additional residential units, tenant storage, a shared washer/dryer facility, commercial leased space, or a combination of these options. Electrical fuse panels have been upgraded to modern breaker panels, improving safety and insurability. Additionally, the flat roof provides ample space for the installation of solar panels, offering an opportunity to reduce long-term electrical costs.