Northview Apartments 3710 12th Avenue Southwest

Rare opportunity to acquire scale in Iowa’s second-largest city

Opportunity to renovate the remaining 77 units (52%)

Flexible exit optionality supported by multiple tax parcels and alternative disposition strategies

Opportunity to implement RUBS and recapture utility expenses

Record occupancy levels in Cedar Rapids; 4.1% market vacancy

High barrier-to-entry market characterized by limited new supply and scarce transaction activity

Strategic southwest Cedar Rapids location with excellent connectivity

Located within 10 miles of Google’s $576 million data center campus and QTS Data Centers’ recently announced $10 billion development, the largest economic development commitment in Cedar Rapids history

Situated near a diverse base of major employers including General Mills, Quaker Oats, Alliant Energy, International Paper, and Archer-Daniels-Midland

Direct access to Highway 100 and Interstate 380, providing convenient access to major employment hubs throughout the Cedar Rapids MSA

Beneficiary of the new $275 million Cedar Crossing Casino & ?Entertainment Center, opening in November 2026 and expected to generate hundreds of permanent hospitality and gaming jobs

Long-term upside from continued employment, population, and infrastructure growth

Cedar Rapids has emerged as one of the Midwest’s most active growth markets, generating nearly $15 billion in capital investment across more than 250 projects since 2016

Click here for more information: https://www.cbredealflow.com/buyer/agreement?pv=CEy4U8SkjuoXzygq22_pMmKbEhYDBIM6W8N2NRKpQRK5YFe7ZnWB0x1MxjPiXw0g

PROPERTY HIGHLIGHTS
Address: 3535 12th Ave SW, Cedar Rapids, IA 52404
Number of Units: 148 (71 renovated / 48%)
Unit Mix: 3-Studio; 45-1BR/1BA; 52-2BR/1BA; 48-2BR/1.5BA
Avg. Unit Size: 756 SF
Year Built: 1966-1974
Total Rentable SF: 111,856
Number of Garages: 90
Avg. Leased Rent: $863
Avg. Rent PSF: $1.14
Number of Buildings: 11

RECENT CAPITAL IMPROVEMENTS
64 units have been completely renovated with new cabinets, countertops, appliances, flooring, and paint
7 additional units have been upgraded with new flooring and painted cabinets
Four new roofs in 2021-2022
New roof and siding in May 2026 for Building 3430 12th Ave.? SW
Two of the Middle buildings have newer siding
Common areas repainted in seven buildings in 2024-2025