$225,000
SOLD MAR 28, 2025

1541 5th Ave SE Unit 1-4 Cedar Rapids, IA 52403

Wellington Heights Neighborhood
7 Beds
4 Baths
3,360 Sq Ft
1961 Built

Recently Sold

$67 Per Sq Ft

17 Days on Market

Highlights

  • Living Room
  • Baseboard Heating
  • Heating System Uses Steam

About This Home

As of March 2025

Investment Opportunity! This well-maintained 4-plex offers a fantastic opportunity for investors seeking steady rental income. Conveniently located in Southeast Cedar Rapids, this property is fully occupied with long-term tenants. The property features three 2 bed/1bath units, and one 1bed/1bath unit. Landlord pays water and gas, tenants pay electricity. New roof installed in 2023 and a new concrete walkway was completed in 2022. Don't mis this opportunity to own a sold multi-family investment!

Last Agent to Sell the Property

Ross Nusser

Urban Acres Real Estate Corridor

Urban Acres Real Estate Corridor

Last Buyer's Agent

Nonmember NONMEMBER

NONMEMBER

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1961

Lot Details

  • Lot Dimensions are 40x140

Parking

  • 4 Parking Spaces

Home Design

  • Poured Concrete
  • Frame Construction

Interior Spaces

  • 3,360 Sq Ft Home
  • Living Room

Schools

  • Johnson Elementary School
  • Mckinley Middle School
  • Washington High School

Utilities

  • Baseboard Heating
  • Heating System Uses Steam
  • Internet Available

Listing and Financial Details

  • Assessor Parcel Number 14223-05006-00000

Community Details

Overview

  • 4 Units
  • Wellington Heights Subdivision

Building Details

  • Electric Expense $464
  • Fuel Expense $1,650
  • Insurance Expense $1,330
  • Maintenance Expense $1,629
  • Water Sewer Expense $2,294
  • Gross Income $34,296

Property Details

Home Type

Multi-Family

Year Built

Built in 1961

Lot Details

0

Listing Details

  • Property Type: MULTI-FAMILY
  • Type: Multi-Family
  • Photo Code: Complete
  • Remarks: Investment Opportunity! This well-maintained 4-plex offers a fantastic opportunity for investors seeking steady rental income. Conveniently located in Southeast Cedar Rapids, this property is fully occupied with long-term tenants. The property features three 2 bed/1bath units, and one 1bed/1bath unit. Landlord pays water and gas, tenants pay electricity. New roof installed in 2023 and a new concrete walkway was completed in 2022. Don't mis this opportunity to own a sold multi-family investment!
  • Year Built: 1961
  • Tax Year Report: 2023
  • Subdivision: Wellington Heights
  • Rental Permit: Yes
  • Water Annually: 2294
  • Directions: From First Ave SE, turn south onto 15th St SE, turn east onto 5th Ave SE, building will be on your right.
  • L O1 Dues Paid: y
  • Amenities: Sidewalks, Street Lights
  • Basement Remarks: Poured Concrete
  • Possession R: Negotiable
  • Possible Finance R: Cash, Conventional
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Sq Ft Above: 3360

Exterior Features

  • Construction: Frame

Garage/Parking

  • Parking Spaces: 4 or More Cars

Utilities

  • Internet: Yes
  • Water Sewer: City Sewer, City Water
  • Electric Annually: 464
  • Gas Annually: 1650
  • Heating Cooling: Baseboard, Steam/Hotwater

Schools

  • Elementary School: Johnson
  • Middle School: Mckinley
  • High School: Washington
  • High School: Washington
  • Jr Middle School: Mckinley
  • Elementary School: Johnson

Lot Info

  • Geo Subdivision: IA
  • Lot Dimensions: 40x140
  • Zoning: Residential

Tax Info

  • Gross Tax County City: 3216
  • Assessor Parcel Number: 14223-05006-00000

Multi Family

  • Units Total: 4

Map

Range of Values:

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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
03/28/2025 03/28/25 Sold $225,000 0.0% $67 / Sq Ft
03/26/2025 03/26/25 For Sale $225,000 0.0% $67 / Sq Ft
01/31/2025 01/31/25 Pending -- -- --
01/14/2025 01/14/25 For Sale $225,000 -- $67 / Sq Ft
Source: Iowa City Area Association of REALTORS®

Source: Iowa City Area Association of REALTORS®

MLS Number: 202500448

Iowa City Area Association of REALTORS®

Iowa Linn County Cedar Rapids 52403 Wellington Heights

1541 5th Ave SE Unit 1-4, Cedar Rapids, IA

Homes for Sale in Cedar Rapids, IA

This home is located at 1541 5th Ave SE Unit 1-4, Cedar Rapids, IA 52403 and is currently priced at $225,000, approximately $66 per square foot. This property was built in 1961. 1541 5th Ave SE Unit 1-4 is a home located in Linn County with nearby schools including Johnson Elementary School, McKinley STEAM Academy, and George Washington High School.

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.

Iowa City Area Association of REALTORS® IDX information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

Listing information is deemed reliable, but not guaranteed accurate by the MLS.