# 806 15th Avenue SW, Cedar Rapids, IA 52404 > **TL;DR:** 48bd/30ba residential multi family, $1,900,000, built 1968. Est. $10,161/mo. Listed 134 days. ## Property at a Glance | Attribute | Value | |-----------|-------| | Price | $1,900,000 | | Bedrooms | 48 | | Bathrooms | 30 full | | Year Built | 1968 | | Lot Size | 28,750 sqft (0.66 acres) | | Stories | 2 | | Property Type | Residential Multi Family (Other) | | Status | Active | | Days on Market | 134 | ## Estimated Monthly Costs | Category | Amount | |----------|--------| | Principal & Interest (20% down, 30-year at 6.5%) | $9,607 | | Estimated Insurance | $554 | | **Total** | **$10,161** | ## Property Highlights - Built in 1968 - 0.66 acre lot - 2 stories ## Description ### Agent Description Blue Jay Apartments offers the opportunity to acquire a 30-unit multifamily investment property in southwest Cedar Rapids, IA. The four-building complex features a desirable mix of 14 one-bedroom and 16 two-bedroom apartments, ample off-street parking, and common area laundry facilities. Conveniently located near the 1st Avenue retail corridor, the Property provides easy access to shopping, healthcare, restaurants, major employers, and transportation routes throughout the Cedar Rapids metro area. Current ownership has completed significant capital improvements, including new roofs, gutters, soffits, and vinyl siding since 2021, along with replacement of all four boilers in 2024. Approximately 90% of the units feature updated luxury vinyl plank flooring, and laundry equipment continues to be upgraded, reducing future capital needs for the next owner. The Property benefits from Cedar Rapids' diverse employment base and ongoing economic growth, including major data center developments currently under construction nearby. Current rents provide the opportunity for future revenue growth through continued interior updates, strategic rent increases, and potential implementation of RUBS. Offered at $1,900,000, Blue Jay Apartments presents an attractive opportunity to acquire a well-cared-for workforce housing asset with stable occupancy, recent capital improvements, and value-add potential. ## Location - **Address:** 806 15th Avenue SW, Cedar Rapids, IA 52404 - **Coordinates:** 41.963197, -91.680222 - **Google Maps:** https://www.google.com/maps?q=41.963197,-91.680222 ## Listing Agent - **Name:** Jon Fisher - **Brokerage:** MR LANDMAN LLC - **Broker Phone:** (217) 202-0924 - **Listing URL:** [View original listing](https://www.realtor.com/realestateandhomes-detail/806-15th-Ave-SW_Cedar-Rapids_IA_52404_M80556-79436?f=listhub&s=MREDIL&m=12681768&c=propsimple) ## Photos ![806 15th Avenue SW - Photo 1](http://lh.rdcpix.com/90b521ae9f8233ec5129673b2b09bde8l-f2034856695r.jpg) ![806 15th Avenue SW - Photo 2](http://lh.rdcpix.com/90b521ae9f8233ec5129673b2b09bde8l-f2797380223r.jpg) ![806 15th Avenue SW - Photo 3](http://lh.rdcpix.com/90b521ae9f8233ec5129673b2b09bde8l-f2800818276r.jpg) ![806 15th Avenue SW - Photo 4](http://lh.rdcpix.com/90b521ae9f8233ec5129673b2b09bde8l-f694770353r.jpg) ![806 15th Avenue SW - Photo 5](http://lh.rdcpix.com/90b521ae9f8233ec5129673b2b09bde8l-f2457552457r.jpg) ![806 15th Avenue SW - Photo 6](http://lh.rdcpix.com/90b521ae9f8233ec5129673b2b09bde8l-f3301631928r.jpg) ![806 15th Avenue SW - Photo 7](http://lh.rdcpix.com/90b521ae9f8233ec5129673b2b09bde8l-f1459085160r.jpg) ![806 15th Avenue SW - Photo 8](http://lh.rdcpix.com/90b521ae9f8233ec5129673b2b09bde8l-f547800324r.jpg) ![806 15th Avenue SW - Photo 9](http://lh.rdcpix.com/90b521ae9f8233ec5129673b2b09bde8l-f32303884r.jpg) ![806 15th Avenue SW - Photo 10](http://lh.rdcpix.com/90b521ae9f8233ec5129673b2b09bde8l-f1489222132r.jpg) ![806 15th Avenue SW - Photo 11](http://lh.rdcpix.com/90b521ae9f8233ec5129673b2b09bde8l-f3048291771r.jpg) ![806 15th Avenue SW - Photo 12](http://lh.rdcpix.com/90b521ae9f8233ec5129673b2b09bde8l-f4239620288r.jpg) ![806 15th Avenue SW - Photo 13](http://lh.rdcpix.com/90b521ae9f8233ec5129673b2b09bde8l-f935325205r.jpg) ![806 15th Avenue SW - Photo 14](http://lh.rdcpix.com/90b521ae9f8233ec5129673b2b09bde8l-f1015596471r.jpg) ![806 15th Avenue SW - Photo 15](http://lh.rdcpix.com/90b521ae9f8233ec5129673b2b09bde8l-f5742386r.jpg) ![806 15th Avenue SW - Photo 16](http://lh.rdcpix.com/90b521ae9f8233ec5129673b2b09bde8l-f925583142r.jpg) ![806 15th Avenue SW - Photo 17](http://lh.rdcpix.com/90b521ae9f8233ec5129673b2b09bde8l-f1872694717r.jpg) ![806 15th Avenue SW - Photo 18](http://lh.rdcpix.com/90b521ae9f8233ec5129673b2b09bde8l-f3624546369r.jpg) ![806 15th Avenue SW - Photo 19](http://lh.rdcpix.com/90b521ae9f8233ec5129673b2b09bde8l-f1893006550r.jpg) ![806 15th Avenue SW - Photo 20](http://lh.rdcpix.com/90b521ae9f8233ec5129673b2b09bde8l-f30309475r.jpg) ![806 15th Avenue SW - Photo 21](http://lh.rdcpix.com/90b521ae9f8233ec5129673b2b09bde8l-f2728506349r.jpg) ![806 15th Avenue SW - Photo 22](http://lh.rdcpix.com/90b521ae9f8233ec5129673b2b09bde8l-f3183390267r.jpg) ![806 15th Avenue SW - Photo 23](http://lh.rdcpix.com/90b521ae9f8233ec5129673b2b09bde8l-f931146821r.jpg) ![806 15th Avenue SW - Photo 24](http://lh.rdcpix.com/90b521ae9f8233ec5129673b2b09bde8l-f3628093909r.jpg) ![806 15th Avenue SW - Photo 25](http://lh.rdcpix.com/90b521ae9f8233ec5129673b2b09bde8l-f4110018795r.jpg) ![806 15th Avenue SW - Photo 26](http://lh.rdcpix.com/90b521ae9f8233ec5129673b2b09bde8l-f3447927909r.jpg) ![806 15th Avenue SW - Photo 27](http://lh.rdcpix.com/90b521ae9f8233ec5129673b2b09bde8l-f2800565096r.jpg) ![806 15th Avenue SW - Photo 28](http://lh.rdcpix.com/90b521ae9f8233ec5129673b2b09bde8l-f48229862r.jpg) ![806 15th Avenue SW - Photo 29](http://lh.rdcpix.com/90b521ae9f8233ec5129673b2b09bde8l-f674913794r.jpg) --- **MLS#:** 12681768 | **Updated:** 2026-10-29 **Source:** listhub *Copyright © 2026 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.* [View on PropertySimple](https://www.propertysimple.ai/listing/806-15th-avenue-sw-cedar-rapids-ia-52404-7d38596cccf34d7a9eb22597590b7654) --- ## Structured Data ```json { "@context": "https://schema.org", "@type": "RealEstateListing", "@id": "https://www.propertysimple.ai/listing/806-15th-avenue-sw-cedar-rapids-ia-52404-7d38596cccf34d7a9eb22597590b7654#listing", "url": "https://www.propertysimple.ai/listing/806-15th-avenue-sw-cedar-rapids-ia-52404-7d38596cccf34d7a9eb22597590b7654", "name": "806 15th Avenue SW, Cedar Rapids, IA 52404", "description": "Blue Jay Apartments offers the opportunity to acquire a 30-unit multifamily investment property in southwest Cedar Rapids, IA. The four-building complex features a desirable mix of 14 one-bedroom and 16 two-bedroom apartments, ample off-street parking, and common area laundry facilities. Conveniently located near the 1st Avenue retail corridor, the Property provides easy access to shopping, healthcare, restaurants, major employers, and transportation routes throughout the Cedar Rapids metro area. Current ownership has completed significant capital improvements, including new roofs, gutters, soffits, and vinyl siding since 2021, along with replacement of all four boilers in 2024. Approximately 90% of the units feature updated luxury vinyl plank flooring, and laundry equipment continues to be upgraded, reducing future capital needs for the next owner. The Property benefits from Cedar Rapids' diverse employment base and ongoing economic growth, including major data center developments currently under construction nearby. Current rents provide the opportunity for future revenue growth through continued interior updates, strategic rent increases, and potential implementation of RUBS. 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