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1320 1st Avenue NW Cedar Rapids, IA 52405 • Multi Unit - Multiple • Active

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Description

A great opportunity to add to your investment portfolio! This fully leased fourplex offers an attractive cap rate and an annual NOI of over $20,000. The property features two one-bedroom units, two efficiency units, and a large garage that is leased separately. All four units are currently occupied with month-to-month leases, providing flexibility for the next owner. Current monthly rents are $600, $700, $700, and $795, with an additional $100 per month for the garage. Utilities are collectively metered and currently paid by the landlord. All showings require a minimum of 48 hours' notice.

Property Highlights

Property Type: Multi Unit - Multiple

General Information

Sqft: 2,361
County: Linn
High School: Jefferson
Listed By:
Realty87 Tyler Donahue 319-378-8760
Cedar Rapids MLS
$150,000
Est. $1,097/mo
2,361sqft
New to the Market Active
BEDS0 BATHS SQUARE FEET2,361 MLS#2607588
STATUSActive PROPERTY TYPEMulti Unit - Multiple SCHOOLCedar Rapids
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Agent Name: Brian Littrel
 Agent Phone: (563) 260-6438
 Agency Title: Ruhl&Ruhl Realtors
 Agent Email:

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1320 1st Avenue Nw, Cedar Rapids, IA 52405.

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Loan Type 30 Year FixedFHA 30 Year Fixed15 Year Fixed
Purchase Price $150,000$150,000$150,000
Down Payment $30,000$5,250$37,500
Monthly Mortgage Amount $788$968$965
Taxes $209$209$209
Insurance $100$100$100
HOA/Dues/Fees $0$0$0
Monthly Mortage Insurance $0$66$0
Monthly Estimated Total $1,097$1,343$1,274

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Disclaimer: All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided 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 on this site was last updated 11/03/2026. The listing information on this page last changed on 11/03/2026. The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of Delta Media Group MLS (last updated Tue 11/03/2026 12:24:34 AM EST) or MRED MLS (last updated Tue 11/03/2026 12:16:05 AM EST) or SCWMLS (last updated Mon 11/02/2026 11:55:07 PM EST) or Rockford Board of Realtors (NWIAR) (last updated Mon 11/02/2026 10:15:24 PM EST) or Cedar Rapids MLS (last updated Mon 11/02/2026 10:44:30 PM EST) or NEIRBR MLS (last updated Tue 11/03/2026 12:18:45 AM EST) or ICAAR MLS (last updated Mon 11/02/2026 11:37:34 PM EST) or ECIMLS (last updated Mon 11/02/2026 11:44:36 PM EST) or RMLSA (last updated Tue 11/03/2026 12:21:00 AM EST) or Muscatine MLS (last updated Tue 11/03/2026 12:15:13 AM EST) or No Coast MLS (last updated Tue 11/03/2026 12:14:24 AM EST). Real estate listings held by brokerage firms other than Ruhl&Ruhl Realtors may be marked with the Internet Data Exchange logo and detailed information about those properties will include the name of the listing broker(s) when required by the MLS. All rights reserved.
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