Otley Townhomes 2018 Otley Avenue

CBRE is pleased to present Otley Townhomes, a 6-unit / 3-duplex community located in Perry, Iowa. Built in 2024, the property consists of spacious three-bedroom, two-and-one-half-bathroom floorplans averaging approximately 1,468 square feet and featuring attached two-car garages. As a newly constructed asset, the property provides investors with modern housing product in a stable Central Iowa community.

Situated in Perry, approximately 30 miles northwest of the Des Moines Metro, the property benefits from the area’s diverse economic base, which includes manufacturing, agriculture, healthcare, and other local industries. Perry serves as a regional hub for surrounding communities while offering residents a small-town atmosphere and convenient access to the Des Moines MSA via Highway 141.

Completed in 2024, Otley Townhomes features modern construction, functional floor plans, and high-end finishes. The property’s three-bedroom layouts, attached garages, and duplex-style design appeal to a broad renter base, while a 10-year property tax abatement provides reduced operating expenses during the initial years of ownership. With stable occupancy and attractive operating fundamentals, Otley Townhomes is well positioned for long-term ownership in an established Central Iowa market.

CLICK HERE FOR MORE INFORMATION:
https://www.cbredealflow.com/buyer/agreement?pv=Qk6k6ryJyw-ygMsDgn-1TylTXtEQJjfVtJn86I5rsu085DBl1tCxEeIUOxArunXt

Addresses: 2012, 2014, 2018, 2020, 2024 & 2026 Otley Ave, Perry, IA 50220
List Price: $1,319,000
Year Built: 2024
Number of Units: 6
Unit Mix: All 3BR/2.5BA
Avg. Unit Size: 1,468
Avg. In Place Rent: $1,587
Number of Stories: 2
Parking: 2-Car, Attached Garages
Parcel Size: 0.82 acres (6 parcels)

10-Year Tax Abatement
Otley Townhomes benefits from tax abatement for the building through assessment year 2035 as follows:
- 100% through 2030
- 85% for 2031
- 60% for 2032
- 45% for 2033
- 30% for 2034
- 15% for 2035