2535 Central Avenue

Dubuque, IA 52001

Located in the heart of Dubuque, 2535 Central Ave presents an outstanding opportunity to acquire a cash-flowing 19-unit multifamily property with major capital improvements already completed. This investment property has seen extensive updates throughout the building, helping reduce future maintenance costs while increasing long-term efficiency and tenant appeal. All units feature electric baseboard heat installed in 2022, allowing tenants to pay their own electric expenses, with the exception of Unit #5 which remains tied to the house account. Landlord expenses are limited to trash, water, and common area electric. The property also features coin-operated laundry, providing an additional income stream for ownership. Recent improvements include new windows throughout the building in 2023, new water lines throughout the building in 2024, and a new roof completed in 2021. Additional upgrades over the years include a new forced air gas furnace with ductwork in the basement, replacement of the central water heater, repaired and painted soffits, a new gas line to Unit #16, and the rehab/addition of 5 apartments. With strong in-place cash flow, significant mechanical and structural updates, and a prime Dubuque location, this property offers investors the chance to step into a stabilized asset with upside and long-term durability.