COUCIL BLUFFS 14-UNIT MUTIFAMILY

135 Glenn Ave, Council Bluffs, Iowa, is situated in a tranquil residential neighborhood with a blend of suburban charm and urban convenience. This location offers easy access to nearby parks, schools, and local amenities, making it ideal for families and professionals alike. The property is just a short drive from downtown Council Bluffs and major highways, providing a seamless connection to Omaha and the broader metro area.Lee & Associates proudly presents a distinctive dorm-style, city-certified conversion apartment. This unique property features four levels, each with separate entrances and individual amenities. The first three floors are designed for shared living, with each floor equipped with a communal kitchen, bathroom, and laundry facilities. Each of these floors contains four rooms available for individual rental. The top floor offers a spacious 1,200 sq. ft. unit, complete with four bedrooms, one bathroom, a kitchen, and laundry facilities. Additionally, there is a private studio apartment located on the second floor, featuring its own kitchen, bathroom, and laundry. Each floor has its own electrical system and water heater, with separate metering for utilities, which would allow each floor to be converted to larger 4 and 5 bedroom suites if desired. The building has been thoroughly inspected and permitted by the city, featuring updates such as a new sprinkler system, plumbing, electrical work, and foundation improvements. This property also includes four garages and off-street parking. Recently cosmetically renovated, it offers strong cash flow potential with a Net Operating Income (NOI) of $68,000 and a capitalization rate of 9.79%.