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709 & 711 Meadow Lane Court Se, 
Mt Vernon, IA 52314

$1,620,000


Bed


Bath


22,146

Sq Ft


Multi-Family


Virtual Tour

Pending

Listed by

Matthew Lepic

Lepic-Kroeger, Realtors

319-351-8811

Last updated:

April 15, 2025, 07:07 AM

MLS#

2500797

Source:

IA CRAAR

About This Home

709 & 711 Meadow Lane Court Se

Discover a hidden gem in the City of Mt. Vernon, Iowa. This 24-unit complex has been updated as needed, featuring 22 two-bedroom, one-bath units and two one-bedroom 1 bath units. The two-bedroom units average 900 square feet, while the one-bedroom units are around 700 square feet. There are also 12 detached garages, all of which are currently rented. This property presents a great value-add opportunity, as we have consistently demonstrated annual rent increases. With a low turnover rate among tenants, rent increases have been steady, albeit slow. There is still potential for further improvements and continued rental growth.

Home Facts

Multi-Family

Built in 1973

Price Summary

1,620,000

$73 per Sq. Ft.

MLS #:

2500797

Last Updated:

April 15, 2025, 07:07 AM

Added:

2 month(s) ago


Rooms & Interior

Interior

Living Area:

22,146 Sq. Ft.


Structure

Structure

Year Built:

1973


Lot

Lot Size (Sq. Ft):

47,480


Finances & Disclosures

Finances

Price:

$1,620,000

Price per Sq. Ft:

$73 per Sq. Ft.

Source:IA CRAAR
The information being provided by Cedar Rapids Area Association of Realtors is for the consumer’s personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The information is deemed reliable but not guaranteed and should therefore be independently verified. © 2025 Cedar Rapids Area Association of Realtors All rights reserved.

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By clicking Contact I agree a Coldwell Banker Agent may contact me by phone or text message including by automated means and prerecorded messages about real estate services, and that I can access real estate services without providing my phone number. I acknowledge that I have read and agree to the Terms of Use and Privacy Notice.