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Key Facts

Year Built 1969
Building Area
Number of units 328

Property Description

JLL (“Jones Lang LaSalle”) is pleased to present Gateway Gardens, a 328-home garden-style apartment community built in 1969 and located in suburban Cedar Rapids, Iowa. Cedar Rapids is the second largest city in Iowa with more than 135,000 residents and is considered the economic hub of Eastern Iowa due to its position along Interstate 380.

Residents of Gateway Gardens enjoy convenient access to all of the major employers in Cedar Rapids including Rockwell Collins, Transamerica, St. Luke's Hospital, and Whirlpool Corporation. Gateway Gardens offers investors an excellent location with impressive market fundamentals.

Investment Highlights

Accessible to Major Employers

Gateway Gardens is strategically positioned adjacent to Interstate 380, which provides residents with direct access to Fortune 500 employers in downtown Cedar Rapids and its considerable employment footprint.

Renowned Healthcare

The state of Iowa is regarded as the 4th ranked state in the country for its commitment to advancing healthcare treatment and research, which is predominantly driven by the Iowa City - Cedar Rapids community.

Proximity to Iowa City

Gateway Gardens benefits from its close proximity (30 minutes) to Iowa City and the uniqueness of a town with more than 75,000 residents and the University of Iowa.

Strong Market Fundamentals

The Southwest Cedar Rapids apartment submarket has maintained strong performance through 2Q20 with year over year effective rent growth of 3.4% and an average occupancy of 94%.

Immediacy to Eastern Iowa Airport

The Eastern Iowa Airport (CID) is conveniently located just 10 minutes from the Gateway Gardens and services more than 1.5 million passengers each year to 13 domestic non-stop destinations.

Last Updated Date: 27 Jul 2020
David Gaines
David Gaines
Senior Director, Capital Markets
License details
Kyle Butler
Associate, Production Support

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Last Updated Date: 27 Jul 2020

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