$8,595,000

Sunny Ridge #phase I

Marion IA, 52302

Description

Rare Opportunity to acquire a new construction apartment development in fast growing Marion, Iowa. Sunny Ridge is a Town House style apartment complex consisting of 48 Residential Units in Phase I (January 2020 acquisition date) and 44 Residential Units in Phase II (January 2021 acquisition date). The combined 92 units consists of 3 floorplans; 60 units are two-bedroom/two and a half bathroom, 8 units are three-bedroom/two and a half bathrooms, and 24 units are two-bedroom/one and a half bath. Each unit has a 2-stall garage with a 2-car parking pad in front that is included in the rent. Each unit has new luxury finishes and features. Lower Operating Expenses with Separate Water and Electric Meters, as well as tenants pay for their own trash removal. Benefits of owning a new construction building with lower repairs/maintenance and lower insurance premiums.

Details

MLS#1907297
StyleHouse
Sub-TypeResale
StatusActive
Year2017
Days On Site20

Features

SQ Feet92,784
Acreage2.92

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Area Information

StateIA
CountyLinn
CityMarion
Zip Code52302
AreaLinn
Elementary SchoolLinn Grove
Middle SchoolExcelsior
High SchoolLinn Mar
Listing VS Median (in 52302)
Price:
$8,595,000
low | high
Med:
$179,900
100% of Average
SqFt:
92,784
low | high
Med:
1,866
100% of Average
$ / SqFt:
$93
low | high
Med:
$96
45.924924571041% of Average
On Site:
20
low | high
Med:
25
80% of Average
Listing Updated: 10/19/2019
MLS Number: 1907297
Listing Provided By:
Craig Byers  of  Q4 Real Estate
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