This brand-new multifamily property in Hiawatha offers investors a rare opportunity to acquire a newly constructed, income-producing asset with immediate stabilization and limited near-term capital needs. With a current rent roll of $6,500 per month and approximately $78,000 in gross annual income, the property is already producing reliable cash flow from day one.

Based on a purchase price of $850,000 and NOI of $65,600, the property is positioned at an approximately 7.72% cap rate, offering a compelling yield in a high-demand market. For investors focused on income, this is a clean, modern asset with built-in efficiency and strong long-term hold potential.

The property consists of three two-story units, each offering approximately 1,750 finished square feet with 3 bedrooms and 2.5 bathrooms. Units feature open-concept main levels, spacious living areas, modern kitchens, and dining spaces, along with white cabinetry, quartz countertops, stainless steel appliances, and durable LVP flooring. Each unit also includes a main-level half bath and sliding patio doors that add livability and tenant appeal.