315 Morgan St

Keokuk, IA 52632

Beautiful completely remodeled historic home in Keokuk Iowa (just across the river from Nauvoo). This Building has 3 separate units. Unit #1 is a 3 bedroom 1 bath unit with massive living room family room area. gorgeous fireplace and lots of exposed brick as accents to the beautiful wood detailing. This unit has been completely gutted redone with new paint, flooring, updated windows, fully remodeled bathroom and all new kitchen High 12 foot ceilings with lots of great details. This unit is currently rented for $1`,200 a month. Renter pays for Electric. Unit #2 is a 1 bedroom 1 bath unit that has had the bathroom completely redone, new kitchen, and paint throughout the unit. Most of the flooring is brand new. This unit is currently rented for $700 a month. Unit #3 This unit is unique and special. My wife and I built this specifically for us to live in when we came to visit our son and grandkids. This unit comes fully furnished and we have rented this as an Air BnB. This is a 1 bedroom 1 bath with a large loft!! This entire unit has been gutted and built to a very high level. The kitchen has all stainless steel appliances with a beautiful free standing and fully functional professional range hood above the island. Built in oven, stove, microwave, dishwasher etc. are all high-end stainless steel appliances. Amazingly bright with TALL windows to let in light. Lots of exposed brick in the Living room and dining area. The kitchen counters and island are all finished in a very nice white granite. The living room is spacious, and is fully furnished with large flat screen TV and comfy couches and Chairs. The bedroom, has a nice closet, high windows that are all new and highly energy efficient. The Bedroom and the family/kitchen area are all heated and cooled with high efficient Mini-splits. The bathroom in this unit is spectacular with beautiful tiled floors and an exquisite shower. The massive sink/counter combination has a granite top and high end furnishings. Upstairs is an amazing LOFT. This area is fully insulated with brand new panoramic arched windows. Brand new carpeting up here with extra plush padding makes it a great area to hang out. It has 2 queen sized beds, and 2 couches that also make into beds. This is a great place for families to get together. This unit is currently rented for $1,500 a month. Additionally, we have a shared laundry area on the first floor of this unit for everyone to do laundry. The house has a New this summer main water-line to the home, giving great water pressure . The yard is tidy and neat. Newer roof and paint on the home. The front entryway is exquisite. Almost forgot to mention that it has a detached 2 car garage that is 2 stories high. The garage was originally a carriage house, and was built with a hayloft in the second level. There is a door upstairs that was used to load hay into the loft. Right now it is being used as storage and the garage door is inoperable, but the man door is good. Ill try and find pictures of it. If you have every wanted a great rental property or the chance to own a historical home that doesn't come with LOTS of headaches this is the one for you. Right now total rents are $3,200 per month. Our total costs last year for Water, Gas, Garbage, Insurance, Taxes, electric were $9,196 for the year. Net rent minus expenses were $29,204. This is a building that should cash flow great. Great CAP rate of 9.9%