Property Description

Solid value add opportunity in Silvis with this 6-unit apartment building located at 1911 16th Street. The property features six 2-bedroom, 1-bath units, each offering a kitchen, dining room, living room, patio, and in-unit washer/dryer hookups. Four units are currently occupied, providing immediate income, while two lower units (#1 and #2) are vacant and not rent ready. Unit #2 has been recently renovated but still requires resolution of a plumbing issue before occupancy. Unit #1 has been demoed and also needs plumbing repair and a full renovation prior to being rented. Average rents for the occupied units range from $600-$625, offering strong upside once the lower units are brought back online and rents are raised to market levels. Tenants pay gas and electric, while the owner covers water, sewer, common area electric, trash, lawn care, and snow removal. The property is being sold As Is, making it an excellent opportunity for investors seeking a renovation project with long-term cashflow potential. Rent rolls and cash flow statements available with serious inquiries. Convenient location near schools, parks, and major roadways (John Deere Road & Avenue of the Cities).

Property Features