2535 Central Ave Dubuque, IA 52001
Estimated payment $6,097/month
About This Home
Located in the heart of Dubuque, 2535 Central Ave presents an outstanding opportunity to acquire a cash-flowing 19-unit multifamily property with major capital improvements already completed. This investment property has seen extensive updates throughout the building, helping reduce future maintenance costs while increasing long-term efficiency and tenant appeal. All units feature electric baseboard heat installed in 2022, allowing tenants to pay their own electric expenses, with the exception of Unit #5 which remains tied to the house account. Landlord expenses are limited to trash, water, and common area electric. The property also features coin-operated laundry, providing an additional income stream for ownership. Recent improvements include new windows throughout the building in 2023, new water lines throughout the building in 2024, and a new roof completed in 2021. Additional upgrades over the years include a new forced air gas furnace with ductwork in the basement, replacement of the central water heater, repaired and painted soffits, a new gas line to Unit #16, and the rehab/addition of 5 apartments. With strong in-place cash flow, significant mechanical and structural updates, and a prime Dubuque location, this property offers investors the chance to step into a stabilized asset with upside and long-term durability.
Property Details
Home Type
- Apartment
Est. Annual Taxes
- $6,288
Year Built
- Built in 1920
Home Design
- Brick or Stone Mason
- Stone Foundation
Interior Spaces
- Basement Fills Entire Space Under The House
- Range
Bedrooms and Bathrooms
- 6 Bedrooms
- 7 Bathrooms
Parking
- No Garage
- Off-Street Parking
Schools
- Eisenhower Elementary School
- Jefferson Jr High Middle School
- S. Hempstead High School
Utilities
- Forced Air Heating System
Listing and Financial Details
- The owner pays for gas, trash
Community Details
Overview
- 19 Units
- See County Website Subdivision
Building Details
- Insurance Expense $10,899
- Maintenance Expense $3,125
- Other Expense $900
- Utility Expense $20,159
- Operating Expense $41,371
- Net Operating Income $108,329
Map
Tax History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| 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 | $6,288 | $805,300 | $137,400 | $667,900 |
| 2024 | $6,288 | $437,300 | $82,400 | $354,900 |
| 2023 | $6,104 | $437,300 | $82,400 | $354,900 |
| 2022 | $7,450 | $382,500 | $82,440 | $300,060 |
| 2021 | $7,450 | $382,500 | $82,440 | $300,060 |
| 2020 | $8,800 | $382,500 | $82,440 | $300,060 |
| 2019 | $7,810 | $382,500 | $82,440 | $300,060 |
| 2018 | $8,262 | $318,750 | $68,700 | $250,050 |
| 2017 | $8,920 | $318,750 | $68,700 | $250,050 |
| 2016 | $8,920 | $318,750 | $68,700 | $250,050 |
| 2015 | $9,350 | $318,750 | $68,700 | $250,050 |
| 2014 | $12,248 | $412,160 | $68,700 | $343,460 |
Property History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 05/21/2026 05/21/26 | For Sale | $1,050,000 | +180.0% | $92 / Sq Ft | |
| 08/30/2019 08/30/19 | Sold | $375,000 | -6.3% | $22 / Sq Ft | View Prior Sale |
| 07/05/2019 07/05/19 | Pending | -- | -- | -- | |
| 06/10/2019 06/10/19 | For Sale | $400,000 | -- | $23 / Sq Ft |
Source: East Central Iowa Association of REALTORS®
MLS Number: ECR154699
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Listings courtesy of East Central Iowa Association of REALTORS® as distributed by MLS GRID.
Based on information submitted to the MLS GRID
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