709 & 711 Meadow Lane Ct. SE Mt Vernon IA 52314
709 & 711 Meadow Lane Ct. SE Mt Vernon IA 52314
709 & 711 Meadow Lane Ct. SE, Mt Vernon, IA, 52314Basics
- Date added: Added 6 days ago
- Type: MULTI-FAMILY
- Status: Sold
- DOM: 72
- Subdivision: Bowman 3rd
- Year built: 1971
- Water/Sewer: City Sewer,City Water
- Heating/Cooling: Window/Wall Units,Steam/Hotwater
- Units Total: 24
- Address: 709 & 711 Meadow Lane Ct. SE, Mt Vernon, IA, 52314
- MLS ID: 202500847
Description
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Description:
Discover a hidden gem in the City of Mt. Vernon, Iowa. This 24-unit complex has been updated as needed, featuring 22 two-bedroom, one-bath units and two one-bedroom 1 bath units. The two-bedroom units average 900 square feet, while the one-bedroom units are around 700 square feet. There are also 12 detached garages, all of which are currently rented. This property presents a great value-add opportunity, as we have consistently demonstrated annual rent increases. With a low turnover rate among tenants, rent increases have been steady, albeit slow. There is still potential for further improvements and continued rental growth.
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Location
- Directions: 1st St E, to 7th St. SE to Meadow Lane Ct SE
- County: Linn
Building Details
- Basement: Partial
- Parking: 4 or More Cars
Amenities & Features
- Features: