Meadow Ridge Apartments 765-791 Russell Road

CBRE is pleased to offer for sale Meadow Ridge Apartments, a 48-unit value-add apartment community located in Waterloo, Iowa. Waterloo is located next to Cedar Falls, home of the University of Northern Iowa and is the largest city in the Cedar Valley region. The Cedar Valley region consists of six counties and several key Iowa communities including Waterloo, Cedar Falls, Waverly, Grundy Center, Independence, and New Hampton and boasts a population of more than 240,000 people. The Cedar Valley is home to many major employers including John Deere, UnityPoint Health, Tyson, MercyOne, and Target.

Address: 765 & 791 Russell Rd, Waterloo, IA 50701
List Price: $2,725,000 ($56,771/unit)
Cap Rate: 8.51%
Year Built: 1966
Number of Units: 48
Unit Mix: 23-1BD/1BA, 20-2BD/1BA, 5-3BD/1 BA
Total Building SF: 35,660
Avg. In Place Rent: $757
Number of Buildings: 2
Number of Stories: 2
Parking: Surface