$1,375,000

120 32nd St NE Cedar Rapids, IA 52402

Kenwood Park Neighborhood

Estimated payment $8,202/month

-- Bed
-- Bath
13,248 Sq Ft
$104 Price per Sq Ft

About This Home

**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 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. 2 units rents were doubled by furnishing them and renting short term. Each unit has its own furnace and AC. Tenants pay RUBs each month towards water. 48 Hours' Notice to Show.

Listing Agent

Matthew Lepic

LEPIC-KROEGER CORRIDOR, REALTORS Listed on: 11/24/2025

LEPIC-KROEGER CORRIDOR, REALTORS

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $11,294

Year Built

  • Built in 1970

Home Design

  • 13,248 Sq Ft Home
  • Slab Foundation
  • Frame Construction

Schools

  • Kenwood Elementary School
  • Franklin Middle School
  • Washington High School

Additional Features

  • 0.53 Acre Lot
  • Forced Air Heating and Cooling System

Listing and Financial Details

  • The owner pays for water
  • Assessor Parcel Number 14113-31025-00000

Community Details

Overview

  • 23 Units

Building Details

  • Operating Expense $51,774
  • Gross Income $189,660
  • Net Operating Income $137,886

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$11,294

Year Built

Built in 1970

Lot Details

0

Listing Details

  • Property Type: Residential
  • Property Sub-Type: Multi Family
  • ResoLaundryFeatures: Common Area
  • Lot Size Acres: 0.53
  • Co List Office Phone: 319-351-8811
  • MLS Status: Active
  • Directions: 1st Ave to 32nd St. NE
  • Year Built: 1970
  • Property Sub Type Additional: Multi Family
  • Special Features: VirtualTour
  • Property Sub Type: MultiFamily

Exterior Features

  • Construction Type: Frame
  • Foundation Details: Slab

Garage/Parking

  • Parking Features: Parking Space(s)

Utilities

  • Utilities: Separate Meters
  • Sewer: Public Sewer
  • Cooling: Central Air
  • Cooling Y N: Yes
  • Heating: Electric, Forced Air
  • HeatingYN: Yes
  • Water Source: Public

Schools

  • Elementary School: Kenwood
  • High School: Washington
  • Middle Or Junior School: Franklin

Lot Info

  • Lot Dimensions: IRR
  • ResoLotSizeUnits: Acres
  • Parcel Number: 14113-31025-00000

Rental Info

  • Owner Pays: Water

Multi Family

  • Gross Income: 189660.0
  • Net Operating Income: 137886.0
  • Number Of Units Total: 23
  • Annual Operating Expense: 51774.0
  • Tenant Pays: Electricity, Gas

Tax Info

  • Tax Annual Amount: 11294.0

Map

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
Collateral Analytics

Collateral Analytics Collateral Analytics AVMs (Automated Valuation Model) employ a number of statistical approaches combined with neighborhood-specific comparable selection guarantees the most up-to-date and precise valuations.

Not Available

Collateral Analytics does not have data for the current month. Please view the chart for historical values.

ICE

ICE Mortgage Technology ICE Mortgage Technology’s AVM (Automated Valuation Model) is a state-of-the-art online residential property valuation tool that provides a quick and accurate estimate of the value of almost any home in the U.S.

Not Available

ICE Mortgage Technology does not have data for the current month. Please view the chart for historical values.

First American

First American First American Data & Analytics’ next-generation AVM combines unrivaled data assets with a blended ensemble of valuation models to produce highly accurate, reliable valuations you can trust.

Not Available

First American does not have data for the current month. Please view the chart for historical values.

Quantarium

Quantarium Quantarium’s valuation service, repeatedly proven the industry’s most accurate and comprehensive, is supercharged with a self-learning and auto-tuning AI engine that continually becomes smarter and more accurate as it processes daily inputs from the industry’s leading RE data lake.

Not Available

Quantarium does not have data for the current month. Please view the chart for historical values.

Average Value
Not Available
List Price
Sold Price
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area

Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
11/24/2025 11/24/25 For Sale $1,375,000 +19.6% $104 / Sq Ft
06/02/2023 06/02/23 Sold $1,150,000 0.0% $87 / Sq Ft View Prior Sale
03/29/2023 03/29/23 Pending -- -- --
03/22/2023 03/22/23 For Sale $1,150,000 -- $87 / Sq Ft
Source: Cedar Rapids Area Association of REALTORS®

About the Listing Agent

Matthew Lepic
Matthew Lepic

LEPIC-KROEGER CORRIDOR, REALTORS

(319) 205-8701

Section Image

Together Matthew and Nicole formed the Lepic Elite Home Team in 2008. They knew that their expansive background in Real Estate would be a huge asset for their clients. Matthew and Nicole’s joint wisdom can guide you to making the best decision so you can feel comfortable in your outcome. They have knowledge, experience and education with new construction, remodeling, investments, development, and also listing your current property or purchasing an existing home. Since Nicole is from Linn County

View Matthew's Profile

Matthew's Other Listings

  • 1238 Ellis Blvd NW, Cedar Rapids, IA 52405

    $159,900

    • 4 Beds
    • 2 Baths
    • 1,798 Sq Ft
    • 1238 Ellis Blvd NW
    • Cedar Rapids, IA

    This charming two-story home boasts a fantastic location and has many recent updates. With ample space for entertaining, you can enjoy your gatherings in the spacious main floor living room and the back entertainment room. The home features two bedrooms on the main floor and two additional bedrooms on the upper floor. There is a full bathroom on each level for added convenience. Recent upgrades

    Matthew Lepic Lepic-Kroeger, REALTORS

    Section Image
  • 808 Windam Dr, Solon, IA 52333

    $375,000

    • 3 Beds
    • 3 Baths
    • 2,293 Sq Ft
    • 808 Windam Dr
    • Solon, IA

    This newly constructed split-foyer single-family home features three bedrooms and three bathrooms, offering nearly 2,300 square feet of finished living space. The main level showcases luxury vinyl plank flooring in the kitchen, dining, and living areas. The home includes white-painted cabinets, trim, and doors, and is equipped with stainless steel appliances in the kitchen. It also features

    Matthew Lepic Lepic-Kroeger, REALTORS

    Section Image
  • 1663 Derby Ave NW, Swisher, IA 52338

    $400,000

    • 3 Beds
    • 1.5 Baths
    • 1,849 Sq Ft
    • 1663 Derby Ave NW
    • Swisher, IA

    This 6.40-acre property includes two parcels. One parcel is 1 acre in size and features a 3-bedroom, 1.5-bath home with over 1,800 square feet of living space, plus a large unfinished attic area. The home is in need of significant repairs and is being sold **as is**. A well measuring 300 feet was installed 20 years ago, and the septic and HVAC systems were replaced in 2024.This property presents

    Matthew Lepic Lepic-Kroeger, REALTORS

    Section Image
  • 804 Windam Dr, Solon, IA 52333

    $79,900

    • Land
    • 0.23 Acre
    • $347,391 per Acre
    • 804 Windam Dr
    • Solon, IA

    Owners are Licensed Real Estate Agents in the State of Iowa.

    Matthew Lepic Lepic-Kroeger, REALTORS

    Section Image
  • 611 W Sovers St, Solon, IA 52333

    $219,900

    • 3 Beds
    • 2 Baths
    • 1,774 Sq Ft
    • 611 W Sovers St
    • Solon, IA

    This updated zero-lot home features three bedrooms and two bathrooms, ideally located near all schools in Solon. The main level is adorned with luxury vinyl plank (LVP) flooring, brand new carpet in the family room area, 3 seasons porch and all bedrooms. You are welcomed by a two-story entry that leads into the living room, which includes a cozy wood-burning fireplace. The open kitchen and dining

    Matthew Lepic Lepic-Kroeger, REALTORS

    Section Image
  • 425 Stewart St, North Liberty, IA 52317

    $350,000

    • 4 Beds
    • 3 Baths
    • 2,367 Sq Ft
    • 425 Stewart St
    • North Liberty, IA

    New construction split foyer single-family home featuring 4 bedrooms, 3 baths, and nearly 2,400 finished square feet. The main level boasts luxury vinyl plank flooring throughout the kitchen, dining, and living areas. Enjoy white-painted cabinets, trim, and doors, complemented by black-finished hardware and lighting. Step onto a 12 x 12 deck off the main level dining area. The kitchen includes

    Matthew Lepic Lepic-Kroeger, REALTORS

    Section Image
  • 505 Avalon Place, Coralville, IA 52241

    $444,900 Pending

    • 5 Beds
    • 3.5 Baths
    • 3,143 Sq Ft
    • 505 Avalon Place
    • Coralville, IA

    Welcome to your dream home in a charming cul-de-sac with stunning water views! This bright two-story walkout features five bedrooms and three-and-a-half bathrooms, perfect for relaxation and gatherings. Inside, enjoy beautiful oak wood floors and elegant decorative columns. The open kitchen offers ample cabinetry, an island with a breakfast bar, and modern appliances, including a new stove/oven

    Matthew Lepic Lepic-Kroeger, REALTORS

    Section Image
  • 505 Avalon Place, Coralville, IA 52241

    $444,900 Pending

    • 5 Beds
    • 3.5 Baths
    • 3,143 Sq Ft
    • 505 Avalon Place
    • Coralville, IA

    Welcome to your dream home in a charming cul-de-sac with stunning water views! This bright two-story walkout features five bedrooms and three-and-a-half bathrooms, perfect for relaxation and gatherings. Inside, enjoy beautiful oak wood floors and elegant decorative columns. The open kitchen offers ample cabinetry, an island with a breakfast bar, and modern appliances, including a new stove/oven

    Matthew Lepic LEPIC-KROEGER CORRIDOR, REALTORS

    Section Image
  • 56 Pentire Cir, Iowa City, IA 52245

    $265,000

    • 3 Beds
    • 2.5 Baths
    • 1,868 Sq Ft
    • 56 Pentire Cir
    • Iowa City, IA

    IThis two-story condo features 3 bedrooms, 2.5 bathrooms, and boasts the best Price Per Square Foot in the Association. The main level includes an office area, a living room with a gas fireplace, a dining area, and a sunroom. The spacious kitchen is equipped with an island and a half bath. Recently, new flooring has been installed on the lower level. The condo also offers an oversized 2-car

    Matthew Lepic Lepic-Kroeger, REALTORS

    Section Image

Source: Cedar Rapids Area Association of REALTORS®

MLS Number: 2509552

Cedar Rapids Area Association of REALTORS®
Iowa Linn County Cedar Rapids 52402 Kenwood Park

120 32nd St NE, Cedar Rapids, IA

For Sale

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

Cedar Rapids Area Association of REALTORS® IDX information is provided exclusively for 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 not guaranteed.

Nearby Homes
Matthew Lepic
Matthew Lepic
Listing Agent Section Image
LEPIC-KROEGER CORRIDOR, REALTORS
(319) 205-8701