$123,000
PENDING

222 5th Ave SW Cedar Rapids, IA 52404

Downtown Cedar Rapids Neighborhood

Estimated payment $844/month

Total Views 638
-- Bed
-- Bath
2,274 Sq Ft
$54 Price per Sq Ft

Highlights

  • 0.19 Acre Lot
  • Cooling System Mounted To A Wall/Window
  • Heating Available
  • No HOA
  • Shed

About This Home

Unlock the potential of this converted 4-unit building, perfect for first-time investors or owner-occupant landlords looking for a hassle-free rental opportunity. With a layout that maximizes functionality, these charming units create an inviting atmosphere ideal for those seeking affordability and simplicity. The common-area coin laundry adds convenience, ensuring a seamless experience for renters.

For those looking to live and invest in one property, this building presents an excellent opportunity to occupy one unit while generating rental income from the others—a smart way to offset expenses while building equity.

Tenants pay own electricity, Owner pays for water (sewer & trash), and common electricity. No gas at property.
Seller will be completing a 1031 exchange as part of the sale. Please allow 72hr for showing requests.

Listing Agent

Andy Petzold

EPIC PROPERTY MANAGEMENT Listed on: 05/21/2025

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $2,354

Year Built

  • Built in 1890

Lot Details

  • 8,407 Sq Ft Lot
  • Lot Dimensions are 60 x 140

Home Design

  • Frame Construction
  • Vinyl Siding
  • Stone

Interior Spaces

  • 2,274 Sq Ft Home
  • Basement Fills Entire Space Under The House

Outdoor Features

  • Shed

Schools

  • Cedar River Academy Elementary School
  • Wilson Middle School
  • Jefferson High School

Utilities

  • Cooling System Mounted To A Wall/Window
  • Heating Available

Listing and Financial Details

  • The owner pays for electricity, water
  • Assessor Parcel Number 142825601200000

Community Details

Overview

  • No Home Owners Association
  • 4 Units

Building Details

  • Gross Income $25,560

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$2,354

Year Built

Built in 1890

Lot Details

0

Listing Details

  • Property Type: Residential
  • Property Sub-Type: Multi Family
  • ResoLaundryFeatures: Common Area
  • Lot Size Acres: 0.193
  • Co List Office Phone: 319-981-3242
  • MLS Status: Pending
  • Directions: From I-380 South, take 1st Ave exit then continue on L St SW then left on Diagonal Dr SW (5th Ave SW), then left on 3rd St SW (one-way), turn right on 5th Ave SW. Dr to the second structure and come to a complete stop before exiting your vehicle.
  • Year Built: 1890
  • Property Sub Type Additional: Multi Family
  • Special Features: VirtualTour
  • Property Sub Type: MultiFamily

Interior Features

  • Basement: Full
  • Basement: Yes

Exterior Features

  • Construction Type: Frame, Stone, Vinyl Siding
  • Other Structures: Shed(s)

Garage/Parking

  • Parking Features: Parking Space(s)

Utilities

  • Utilities: Separate Meters
  • Sewer: Public Sewer
  • Cooling: Wall/Window Unit(s)
  • Cooling Y N: Yes
  • Heating: Electric
  • HeatingYN: Yes
  • Water Source: Public

Condo/Co-op/Association

  • Association: No

Schools

  • Elementary School: Cedar River Academy
  • High School: Jefferson
  • Middle Or Junior School: Wilson

Lot Info

  • Lot Dimensions: 60 x 140
  • ResoLotSizeUnits: Acres
  • Parcel Number: 142825601200000
  • ResoLotSizeUnits: Acres

Rental Info

  • Owner Pays: Electricity, Water

Multi Family

  • Gross Income: 25560.0
  • Number Of Units Total: 4
  • Tenant Pays: Electricity

Tax Info

  • Tax Annual Amount: 2354.0

Map

Range of Values:

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Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $2,354 $152,600 $42,000 $110,600
2024 $119 $145,000 $42,000 $103,000
2023 $119 $133,000 $30,000 $103,000
2022 $125 $128,500 $30,000 $98,500
2021 $2,422 $128,500 $30,000 $98,500
2020 $130 $91,700 $18,000 $73,700
2019 $2,138 $75,300 $18,000 $57,300
2018 $2,234 $75,300 $18,000 $57,300
2017 $1,734 $61,900 $18,000 $43,900
2016 $1,734 $52,600 $15,300 $37,300
2015 $1,820 $52,970 $15,300 $37,670
2014 $1,820 $49,928 $10,206 $39,722
2013 $1,816 $49,928 $10,206 $39,722
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
05/23/2025 05/23/25 Pending -- -- --
05/21/2025 05/21/25 For Sale $123,000 +36.8% $54 / Sq Ft
03/15/2018 03/15/18 Sold $89,900 -5.4% $40 / Sq Ft View Prior Sale
11/17/2017 11/17/17 Pending -- -- --
07/19/2017 07/19/17 For Sale $95,000 -- $42 / Sq Ft
Source: Cedar Rapids Area Association of REALTORS®

Purchase History

Date Type Sale Price Title Company
Warranty Deed $100,000 None Listed On Document
Warranty Deed $90,000 None Available
Contract Of Sale $83,000 --
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Open $258,000 Construction
Previous Owner $76,415 Future Advance Clause Open End Mortgage
Previous Owner $83,000 Seller Take Back
Source: Public Records

Source: Cedar Rapids Area Association of REALTORS®

MLS Number: 2503630

Cedar Rapids Area Association of REALTORS®

APN: 14282-56012-00000

Iowa Linn County Cedar Rapids 52404 Downtown Cedar Rapids

222 5th Ave SW, Cedar Rapids, IA

Pending

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Listing Agent
Andy Petzold
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EPIC PROPERTY MANAGEMENT
(319) 220-5928