1571 Bluff StDubuque, IA 52001

This well-located Dubuque, IA, multifamily property offers a compelling investment opportunity. The 4,866 square foot building, constructed in 1880, features five units: one 3-bedroom, 1-bathroom unit and four 2-bedroom, 1-bathroom units. Three units have been recently updated with hardwood floors, new appliances, and updated electrical systems, while two units are ready for renovation, presenting a significant value-add potential. Currently operating at 80% occupancy, the property generates a Net Operating Income (NOI) of $24,723, representing a 10.75% capitalization rate. Pro-forma NOI is projected at $47,523, yielding a 20.66% capitalization rate. The property's prime location near downtown Dubuque provides easy access to amenities and public transportation, ensuring high tenant demand. The asking price is $230,000, or $46,000 per unit. The property is zoned M and has a Dubuque County APN of 1024329040. This two-story building presents a strong return on investment with significant upside potential through further unit upgrades and increased occupancy. This is a rare opportunity to acquire a multifamily property in a desirable location with immediate cash flow and substantial long-term growth prospects.