Downtown Cedar Rapids, Cedar Rapids Multi-Family Homes & Duplexes for Sale

Explore Similar Apartments Within 2 Miles of Downtown Cedar Rapids, IA

/40
$225,000
- 5 Beds
- 2 Baths
- 2,295 Sq Ft
1516 C Ave NE Unit A & B, Cedar Rapids, IA 52402

2-unit turn-key duplex, excellent investment opportunity close to Mt. Mercy, Coe College, Mercy Hospital, Garfield Elementary, Fairfield Middle School, and Washington High School. Completely renovated from the studs out, new appliances, light fixtures, flooring, paint, plumbing, electrical, HVAC, separate water, gas, and electric meters, shared laundry in the LL, 4 parking spaces, and easy to

Rob McCain

Urban Acres Real Estate Corridor

(319) 220-5638

1516 C Ave NE Unit A & B, Cedar Rapids, IA 52402
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/2
$825,000
- 7,848 Sq Ft
3212 Wilson Ave SW, Cedar Rapids, IA 52404

Diona Carpenter

SKOGMAN REALTY

(319) 214-7584

3212 Wilson Ave SW, Cedar Rapids, IA 52404
/17
$1,375,000
- 13,248 Sq Ft
120 32nd St NE, Cedar Rapids, IA 52402

**Investment Property Available in Cedar Rapids**This multifamily complex comprises a total of 23 units:- 20 one-bedroom units- 1 two-bedroom unit- 1 three-bedroom unit- 1 efficiency unitOut 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.

Matthew Lepic

LEPIC-KROEGER CORRIDOR, REALTORS

(319) 284-6177

120 32nd St NE, Cedar Rapids, IA 52402
/6
$69,000
- 2,491 Sq Ft
1408 B Ave NE, Cedar Rapids, IA 52402

2 story, 2,491 sq ft, turn of the century home. Located a block from Coe College. Was most recently a 2 unit, owner-occupied duplex. It has city approval to be 3 units. Property is currently not habitable. Electricity has two separate meters. Gas and water are each on one meter. Includes a 4-stall garage off the alley at the back of the property. Property being sold in AS-IS condition. ANYONE

Katie Gombert Pinnacle Realty LLC

1408 B Ave NE, Cedar Rapids, IA 52402
/17
$109,900
- 1,567 Sq Ft
1560 4th Ave SE Unit 1-2, Cedar Rapids, IA 52403

Great Investment Opportunity! New roof in 2021, recently replaced steps and guardrail. Unit A was updated in 2022. The perfect portfolio addition for the savvy investor. Please contact the listing agent for rent rolls and to arrange property access.

Ross Nusser Urban Acres Real Estate Corridor

1560 4th Ave SE Unit 1-2, Cedar Rapids, IA 52403
/17
$240,000
- 3,240 Sq Ft
1912 A Ave NE, Cedar Rapids, IA 52402

Looking for stable cash flow and long-term appreciation in one of the Midwest’s most investor-friendly markets? This turnkey portfolio in Cedar Rapids, IA is the perfect addition to your rental holdings. Whether you're a local investor or an out-of-state buyer looking to expand in the Midwest, this package offers immediate rental income, strong tenant demand, and a market with steady growth.

Marie Hancock Fathom Realty

1912 A Ave NE, Cedar Rapids, IA 52402
/24
$158,000
- 2,480 Sq Ft
369 15th St SE, Cedar Rapids, IA 52403

Great investment opportunity! Check out this upper/lower duplex with many updates. Both units are vacant. Updates occurred while both units were unoccupied. Lower Unit is 2 Bedroom. Upper Unit is 3 Bedroom. Tenants pay electric and gas, landlord pays water/garbage. Each unit has their own private entry. Close to downtown and I-380. Sold "as-is". Any and all inspections are for buyers knowledge

Tracy Engelbart REAL ESTATE AMERICA, INC.

369 15th St SE, Cedar Rapids, IA 52403
/5
$179,900
- 3,136 Sq Ft
1748 A Ave NE, Cedar Rapids, IA 52402

Do not miss this fantastic investment opportunity in a quiet northeast Cedar Rapids neighborhood! This well-maintained duplex has been thoughtfully remodeled over the years, ensuring a low-maintenance addition to your portfolio. Professionally managed by a local company, this property offers reliability and convenience. The upper unit is currently rented at $875/month, while the lower unit is

Jeremy Trenkamp COLDWELL BANKER HEDGES CORRIDOR

1748 A Ave NE, Cedar Rapids, IA 52402
/8
$165,000
- 2,748 Sq Ft
1416 3rd Ave SE, Cedar Rapids, IA 52403

Investment Opportunity! 4-plex with solid cash flow! Comprised of two 1-bedroom units and 2 two-bedroom units. This is an ideal investment opportunity for first time investor - Located on the SE side of Cedar Rapids, near the med quarter and adjacent to St Paul’s church. New roof and other updates since owner purchased in 2023. Spacious backyard with detailed garage that is rented out to tenants.

Cindy Guckenberger Key Realty

1416 3rd Ave SE, Cedar Rapids, IA 52403
/5
$120,000
- 1,384 Sq Ft
418 A Ave NW, Cedar Rapids, IA 52405

Great income investment property. Check out this up/down duplex close to downtown. Lower unit(1 bedroom)rents for $625/mo upper unit(2 bedroom) rents for $675/mo. Lower tenant has been there for 15 yrs and upper tenant for 3 yrs. Tenants pay electric and gas and owner pays water/sewer/garbage. This is a Section 8 approved property with guaranteed rental income. Property has laundry in

Mark Christianson Keller Williams Legacy Group

418 A Ave NW, Cedar Rapids, IA 52405
/30
$249,900
- 3,565 Sq Ft
116 15th St NE, Cedar Rapids, IA 52402

Loads of potential in this Cedar Rapids multiplex. The main floor offers 2 commercial spaces with an office, store front, storage and a single bathroom each. These units could be converted into residential rental units if needed. 2 main floor commercial units are currently vacant. Upstairs offers 2 separate 3-bedroom, 1-bathroom units. Each unit is fully furnished and furnishings are included.

Jeremy Trenkamp COLDWELL BANKER HEDGES CORRIDOR

116 15th St NE, Cedar Rapids, IA 52402
/9
$1,375,000
- 7 Beds
- 4 Baths
- 10,182 Sq Ft
442 5th Ave SW, Cedar Rapids, IA 52404

10-Unit multifamily residential investment sale opportunity - 6th Street Commons. This property, located just Southwest of Downtown Cedar Rapids, consists of 10 residential apartment units. Each unit has a washer and dryer, white appliances, central heat and AC and a balcony/patio. There is an exclusive parking field available for tenants and guests. The sale of 6th Street Commons includes a

Craig Byers Q4 Real Estate

442 5th Ave SW, Cedar Rapids, IA 52404
/11
$119,900
- 2 Beds
- 2 Baths
- 965 Sq Ft
500 C Ave NW Unit A-B, Cedar Rapids, IA 52405

Investment Opportunity! This 1 bed/1bath duplex has undergone a large remodel in both units, and is currently occupied. The landlord covers water expenses, while tenants are responsible for electricity and gas. A well-maintained property offering stable occupancy, and updated living spaces. Please allow 48 hours notice to tenants prior to scheduling showing. Inquire with listing agent for

Ross Nusser Urban Acres Real Estate Corridor

500 C Ave NW Unit A-B, Cedar Rapids, IA 52405
/25
$260,000
- 2,776 Sq Ft
1249 3rd Ave SE, Cedar Rapids, IA 52403

This investment property is a five-unit multifamily building (5-plex) consisting of five one-bedroom units. Two of the units are equipped with in-unit laundry, while the remaining three tenants have access to a common laundry area located in the basement. The property has a solid rental history, with consistent occupancy and reliable tenants. The last city inspection was completed in July 2024,

Beth Mackey COLDWELL BANKER HEDGES

1249 3rd Ave SE, Cedar Rapids, IA 52403
/11
$200,000
- 3,630 Sq Ft
1719 D Ave NE, Cedar Rapids, IA 52402

Great way to get started investing with this solid 3 plex conveniently located near Coe College! Short walk to MOCO, Dairy Queen, Coe and Tic Toc. Each unit has long term tenants on a month to month, up to 3 years. Efficiency unit rents for $550, and other two units rent for $800 and $650. Main floor tenant maintains lawn and sidewalk for a $50 rent discount. Preapproval letter required with

Brian Larkin Keller Williams Legacy Group

1719 D Ave NE, Cedar Rapids, IA 52402
/6
$5,800,000
- 6 Beds
- 6 Baths
- 22,860 Sq Ft
329 12th Ave SE, Cedar Rapids, IA 52401

329 on 12th is a Mixed-Use Investment opportunity located in the heart of the NewBo District in Cedar Rapids, Iowa. Built in 2017, this Class A Investment property consists of 20 market-rate residential apartment units and 9,398 SF of fully leased Commercial Office space. For more information about 329 on 12th or to schedule a showing, contact listing broker only. Confidentiality Agreement

Craig Byers Q4 Real Estate

329 12th Ave SE, Cedar Rapids, IA 52401
/13
$189,000
- 1,884 Sq Ft
520 4th St SW, Cedar Rapids, IA 52404

Randon Hill Epique Realty

520 4th St SW, Cedar Rapids, IA 52404
/2
$365,000
- 3,360 Sq Ft
1400 7th Ave SW, Cedar Rapids, IA 52404

Rachael Ray SKOGMAN REALTY

1400 7th Ave SW, Cedar Rapids, IA 52404
/2
$700,000
- 11,616 Sq Ft
361 30th Street Dr SE, Cedar Rapids, IA 52403

Darin Garman HEARTLAND INVESTMENT REAL ESTATE, LLC

361 30th Street Dr SE, Cedar Rapids, IA 52403
/2
$3,950,000
25-85 Aossey Ln SW, Cedar Rapids, IA 52404

Ronald Kelley KELLEY and CO., REALTORS

25-85 Aossey Ln SW, Cedar Rapids, IA 52404

Iowa Cedar Rapids Downtown Cedar Rapids

About Downtown Cedar Rapids

Downtown Cedar Rapids, straddling the Cedar River, has seen significant revitalization, transforming into a vibrant cultural hub. The area features a mix of new riverfront buildings and improved walkability, with a new bridge set to be completed in 2025. The neighborhood offers a variety of amenities, including shops, restaurants, breweries, and bars. Popular dining spots include Black Sheep Social Club, LP Street Food, and Need Pizza. Residents can enjoy coffee at Dash Coffee Roasters and shop for groceries at Hy-Vee. The Paramount Theatre hosts a range of events, and the annual farmers market features entertainment and numerous vendors. The Freedom Festival, leading up to July Fourth, includes parades and carnivals. Greene Square, the only park in the area, offers a modern art-inspired space for picnicking and gatherings. Cultural attractions include the National Czech & Slovak Museum and the Cedar Rapids Museum of Art. Housing primarily consists of condominiums in converted warehouses or new buildings, with many offering amenities like fitness centers and green spaces. Interstate 380 provides easy commuting, and Eastern Iowa Airport is an 8-mile drive away. While the area has experienced flooding, significant investments have been made in flood protection.

Learn more about living in Downtown Cedar Rapids

Home Trends in Downtown Cedar Rapids, IA

On average, homes in Downtown Cedar Rapids, Cedar Rapids sell after 68 days on the market compared to the national average of 47 days. The average sale price for homes in Downtown Cedar Rapids, Cedar Rapids over the last 12 months is $156,944, down 22% from the average home sale price over the previous 12 months.

Home Trends

Median Price (12 Mo)

$93,500

Median Single Family Price

$98,000

Median 2 Bedroom Price

$102,500

Median 1 Bedroom Price

$53,500

Average Price Per Sq Ft

$143

Number of Homes for Sale

Last 12 months Home Sales

Months of Supply

6.70

Median List Price

$102,950

Median Discount From 1st List Price

Median Home Sale Price YoY Change

-40%

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Multi-Family Homes & Duplexes for Sale in Downtown Cedar Rapids, Cedar Rapids