500 Layne Drive, West Burlington, Iowa 52655-1627

IA, West Burlington
$9,000,000
  • Commercial Sale Property Type
  • 2024 Year Built
  • Active Status
Property Description
Now available is a newly constructed Class A multifamily property completed in 2024, featuring 52 high-quality residential units in a strong Southeast Iowa location. This turnkey asset offers a balanced unit mix consisting of (8) three-bedroom, 2.5-bath units, (24) two-bedroom, one-bath units, and (20) one-bedroom, one-bath units. Each apartment is outfitted with premium finishes including soft-close cabinetry, luxury vinyl plank flooring, energy-efficient Pella windows, and individual HVAC, plumbing, and electrical systems. The property is thoughtfully designed with community in mind, offering amenities such as a dog park, playground, and ample green space. Tenants enjoy the convenience of in-unit laundry, while ownership benefits from separate utility metering—residents are responsible for electric, gas, and internet—helping to reduce overhead and increase NOI. Strategically located near Southeast Iowa Regional Hospital and major retail corridors, the property is well-positioned to attract strong tenant demand. Current market rents are set at $1,900 for three-bedroom units, $1,275 for two-bedroom units, and $975 for one-bedroom units, reflecting strong income potential in a low-vacancy submarket. This is a rare opportunity to acquire a newly built, low-maintenance multifamily asset with modern systems, durable construction, and immediate income. Seller is licensed to sell real estate in the State of Iowa.
Basic Details
  • Property Type: Commercial Sale
  • Listing Type: For Sale
  • Listing ID: 6326384
  • Price: $9,000,000
  • Year Built: 2024
  • Status: Active
  • Office Name: Midwest Realty
Features
  • Heating System Forced Air
  • Parking Attached Garage,Paved Lot
  • Architectural Style Apartment
  • Sewer City Sewer/Connected
  • Utilities Electric Separate,Heating Separate,Hot Water Separate
Address Map
  • Country US
  • State IA
  • County Des Moines
  • City West Burlington
  • Zipcode 52655-1627
  • Street: Layne
  • Street Number: 500
  • Street Suffix: Drive
  • Longitude: W92° 49' 34.2''
  • Latitude: N40° 49' 20.9''
  • Directions: Next to Target in West Burlington
Additional Information
  • Accessibility Features: Wheel Chair Ramp,No Stairs External,No Stairs Internal
  • Construction Materials: Vinyl
  • Current Use: Residential
  • Garage: 8
  • Lot Size Dimensions: 180x700
  • Number Of Units Total: 52
  • Possible Use: Income
  • Previous Price: 9000000
  • Water Source: City Water/Connected
Financial
  • Tax Annual Amount: 2786
Map
Contact Agent
AJ Brown
A.J. Brown
Land & Farm Realtor
Phone: 641-680-9944
Fax: 641-664-3520

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