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1416/1418 3rd Avenue Se, Cedar Rapids, IA 52403

Local realty services provided by:CENTURY 21 Signature Real Estate
1416/1418 3rd Avenue Se,Cedar Rapids, IA 52403
$150,000
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  • - Beds
  • - Baths
  • 2,748 sq. ft.
  • Multi-family
  • Pending
Listed by: cindy guckenberger
Office: key realty
MLS#:2501792
Source:IA_CRAAR

Price summary

  • Price:$150,000
  • Price per sq. ft.:$54.59

About this home

Rare 4-Plex Investment Opportunity – $150,000 Total ($37,500 per Unit). This fully rented property generates $34,740 gross annual income, offering a projected 20% cap rate at the current price point. The unit mix includes two 1-bedroom and two 2-bedroom apartments, appealing to a broad tenant base. Recent updates include a new roof and interior improvements, supporting long-term stability. Tenants are on month-to-month leases, providing flexibility for future rent adjustments. Located in Cedar Rapids’ MedQuarter district near major employers and downtown amenities, this asset combines affordability, strong returns, and long-term potential. Firm at $150,000 – priced to sell.

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Home facts

  • Year built:1898
  • Listing ID #:2501792
  • Added:276 day(s) ago
  • Updated:December 19, 2025 at 12:00 PM

Rooms and interior

  • Living area:2,748 sq. ft.

Heating and cooling

  • Heating:Gas

Structure and exterior

  • Year built:1898
  • Building area:2,748 sq. ft.
  • Lot area:0.13 Acres

Schools

  • High school:Washington
  • Middle school:McKinley
  • Elementary school:Grant

Utilities

  • Water:Public

Finances and disclosures

  • Price:$150,000
  • Price per sq. ft.:$54.59
  • Tax amount:$1,994

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