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120 32nd Street NE

Cedar Rapids, IA 52402
  • $1,400,000
  • STATUS: Active
  • ON SITE: 60 Days
  • MLS #: 2509552
UPDATED: 51 min ago
$1,400,000
  • 0
    BEDS
  • 0.53
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 13,248
    SQFT
  • $106
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1970
County:

School Information

Elementary School:
Middle School:
High School:

Description

**Investment Property Available in Cedar Rapids** This multifamily complex comprises a total of 23 units: - 18 one-bedroom units - 3 two-bedroom unit - 1 three-bedroom unit - 1 efficiency unit Out of the 23 units, 10 have been fully remodeled within the past two years. The units occupied by long-term tenants remain untouched. The property is located in a great area with easy access. 3 units' rents were doubled by furnishing them and renting them short-term. Each unit has its own furnace and AC. Tenants pay RUBs each month towards water. 48 Hours' Notice to Show.

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© 2026 Cedar Rapids Area Association of REALTORS® Multiple Listing Service, Inc. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Graf Real Estate ERA Powered. Data last updated: 2026-01-24T09:42:36.583.
www.cedarrapidsareahomes.com/homes/170888595
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120 32nd Street NE Cedar Rapids, IA 52402

  • Price: $1,400,000
  • Status: Active
  • On Site: 60 Days
  • Updated: 51 min ago
  • MLS #: 2509552
0
Beds
0
Baths
0
½ Baths
0.53
Acres
13,248
SQFT
$106
$/SQFT
1970
Built
Neighborhood:
OT-E (East Of I-380)
County:
Linn
Area:
OT-E (East Of I-380)
Elementary School:
Kenwood
Middle School:
Franklin
High School:
Washington
Property Description
**Investment Property Available in Cedar Rapids** This multifamily complex comprises a total of 23 units: - 18 one-bedroom units - 3 two-bedroom unit - 1 three-bedroom unit - 1 efficiency unit Out of the 23 units, 10 have been fully remodeled within the past two years. The units occupied by long-term tenants remain untouched. The property is located in a great area with easy access. 3 units' rents were doubled by furnishing them and renting them short-term. Each unit has its own furnace and AC. Tenants pay RUBs each month towards water. 48 Hours' Notice to Show.
Exterior Features

Construction Materials Frame Foundation Details Slab Parking Features Parking Space(s)

Interior Features

Cooling Central Air Cooling YN Yes Heating Electric Forced Air Heating YN Yes Laundry Features Common Area

Property Features

Gross Income 198900 Net Operating Income 147126 Operating Expense 51774 Owner Pays Water Possession Immediately Property Sub Type Multi Family Property Sub Type Additional Multi Family Sewer Public Sewer Tax Annual Amount 11294 Tenant Pays Electricity Gas Utilities Separate Meters Water Source Public

Listing information © 2026 Cedar Rapids Area Association of REALTORS® Multiple Listing Service.
Listing provided courtesy of Matthew Lepic of LEPIC-KROEGER, REALTORS: 319-351-8811.
© 2026 Cedar Rapids Area Association of REALTORS® Multiple Listing Service, Inc. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Graf Real Estate ERA Powered. Data last updated: 2026-01-24T09:42:36.583.
 
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