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Contingency
2535 Central AVE Dubuque, IA 52001
17,136 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type 5 OR MORE UNITS
Listing Status Contingency
Purchase Type For Sale
Square Footage 17,136 sqft
Price per Sqft $61
MLS Listing ID 154699
Style Other
Year Built 1920
Property Sub-Type 5 OR MORE UNITS
Property Description
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.
Location
State IA
Area Dubuque Area
Interior
Heating Forced Air
Cooling None
Exterior
Parking Features Other
Roof Type Asp/Composite Shingle
Building
Foundation Rock
Schools
Elementary Schools Eisenhower
Middle Schools Jefferson Jr High
High Schools S. Hempstead
Listed by Equity Real Estate Group LLC