Turnkey Triplex–Fully Renovated and Ready for Cash Flow! Don't miss this exceptional investment opportunity on the quiet SW side of Cedar Rapids! Clean and fully updated its ready for a new owner to start collecting income immediately. Recent renovations within the last 6 years include: new roof, siding, windows, paint, flooring, full kitchen and bathroom remodels, and updated mechanicals—all separated for tenant convenience. Each unit has its own electric meter, while the owner covers water. The building is currently vacant, allowing for easy showings and flexibility for owner-occupants or new tenant placements. Rental History: (2) One-bedroom units previously rented at $675 and $715 (1) Three-bedroom upper unit previously rented at $1,040The property also features alley access, a detached garage, and low-maintenance exterior. This is a perfect addition to your rental portfolio or a great start for a first-time investor!
COLDWELL BANKER HEDGES CORRIDORListed on: 06/25/2025
Property Details
Home Type
Multi-Family
Est. Annual Taxes
$2,880
Year Built
Built in 1905
Lot Details
7,667 Sq Ft Lot
Parking
Garage
Home Design
2,303 Sq Ft Home
Block Foundation
Frame Construction
Vinyl Siding
Outdoor Features
Deck
Patio
Schools
Cedar River Academy Elementary School
Wilson Middle School
Jefferson High School
Utilities
Forced Air Heating and Cooling System
Heating System Uses Gas
Listing and Financial Details
Assessor Parcel Number 14294-03010-00000
Community Details
Overview
No Home Owners Association
3 Units
Building Details
Gross Income $29,160
Property Details
Home Type
Multi-Family
Est. Annual Taxes
$2,880
Year Built
Built in 1905
Lot Details
0
Listing Details
Property Type: Residential
Zoning: Res
Property Sub-Type: Multi Family
Lot Size Acres: 0.176
Co List Office Phone: 319-731-2000
MLS Status: Active
Directions: on 9th
Year Built: 1905
Property Sub Type Additional: Multi Family
Special Features: None
Property Sub Type: MultiFamily
Exterior Features
Construction Type: Frame, Vinyl Siding
Foundation Details: Block
Patio And Porch Features: Deck, Patio
Garage/Parking
Attached Garage: Yes
Total Parking Spaces: 3.0
Utilities
Sewer: Public Sewer
Cooling: Central Air
Cooling Y N: Yes
Heating: Forced Air, Gas
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: .176
ResoLotSizeUnits: Acres
Parcel Number: 14294-03010-00000
Zoning Description: Res
Multi Family
Gross Income: 29160.0
Number Of Units Total: 3
Tax Info
Tax Annual Amount: 2880.0
Map
Range of Values:
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Average Value
Not Available
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
Tax History
Year
Tax Paid
Tax AssessmentTax 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
2023
$3,268
$162,700
$24,200
$138,500
2022
$3,780
$154,900
$20,900
$134,000
2021
$2,572
$154,900
$20,900
$134,000
2020
$604
$97,400
$16,500
$80,900
2019
$630
$21,700
$16,500
$5,200
2018
$658
$22,200
$16,500
$5,700
2017
$1,846
$50,200
$16,500
$33,700
2016
$1,654
$50,200
$16,500
$33,700
2015
$1,890
$54,988
$16,480
$38,508
2014
$1,890
$54,776
$10,561
$44,215
2013
$1,992
$54,776
$10,561
$44,215
Source: Public Records
Property History
Date
Event
Price
Change
Sq Ft Price
06/25/202506/25/25
For Sale
$199,000
--
$86 / Sq Ft
Source: Cedar Rapids Area Association of REALTORS®
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
Great Investment Opportunity on the SE side of Cedar Rapids! This well-maintained multifamily property features four fully leased units-three-1 bedroom units, and 1-3 bedroom unit. Each unit is individually metered for gas and electricity. Owner pays water/garbage/recycling, and common area heat and electric. A shared, coin-operated laundry is available in the basement for added tenant
This home is located at 702 9th St SW, Cedar Rapids, IA 52404 and is currently priced at $199,000, approximately $86 per square foot. This property was built in 1905. 702 9th St SW is a home located in Linn County with nearby schools including Cedar River Academy at Taylor Elementary School, Wilson Middle School, and Thomas Jefferson High School.
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