Fantastic Investment Opportunity! Fully Occupied 4-Unit Building
This well-maintained four-plex is fully rented and generating income from day one! Current rents are $500, $435, $440, and $440 per month, with tenants responsible for all utilities—keeping your overhead low.
Why You’ll Love It:
Affordable entry into multi-family investing
Solid rental history with consistent occupancy
Tenants pay all utilities
Value-Add Potential:
Take this property to the next level by adding features like dishwashers, mini-split systems, or in-unit laundry to increase value and maximize rental income.
You won’t find another 4-plex at this price point and condition—don’t miss your chance to own a cash-flowing asset!
For sale
$135,000
605 4th St SW, Cedar Rapids, IA 52404
--beds
--baths
1,720sqft
Est.:
Multi Family
Built in 1900
-- sqft lot
$126,300 Zestimate®
$78/sqft
$-- HOA
What's special
- 27 days
- on Zillow |
- 507 |
- 43 |
Zillow last checked: 7 hours ago
Listing updated: August 06, 2025 at 04:38pm
Listed by:
Shannon Annis 319-310-3755,
Affinity Real Estate Services,
Liz Hudson Allen 319-259-2204,
Affinity Real Estate Services
Source: CRAAR, CDRMLS,MLS#: 2506245
Originating MLS: Cedar Rapids Area Association Of Realtors

Travel times
Tour with a buyer's agent
Tour with a buyer's agent
Facts & features
Interior
Heating
- Forced Air, Gas
Cooling
- Wall/Window Unit(s)
Features
- Basement: Concrete
Interior area
- Total interior livable area: 1,720 sqft
Video & virtual tour
Property
Lot
- Size: 3,223.44 Square Feet
- Dimensions: 3200
Details
- Parcel number: 142832800600000
- Zoning: R-3+
- Zoning description: R-3+
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Multi Family
Materials
- Frame, Vinyl Siding
- Foundation: Poured
Condition
- Year built: 1900
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
Community & HOA
HOA
- Has HOA: No
Location
- Region: Cedar Rapids
Financial & listing details
- Price per square foot: $78/sqft
- Tax assessed value: $119,300
- Annual tax amount: $1,910
- Date on market: 7/18/2025
- Tenant pays: Electricity, Gas, Water
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