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$ 395,000
Est. payment | /mo
18 Beds
10 Baths
0.83 Acres Lot
$ 395,000
Est. payment | /mo
18 Beds
10 Baths
0.83 Acres Lot
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID 718083
Bedrooms 18
Full Baths 10
HOA Y/N No
Annual Tax Amount $3,710
Lot Size 0.830 Acres
Acres 0.83
Property Description
New Price ~ This well-maintained multifamily property features a 4-unit and 6-unit brick apartment complex on a spacious 0.83-acre lot. The portfolio includes eight 2-bedroom units and two 1-bedroom units, offering stable income with a strong 10% cap rate. Recent upgrades include newer roofs, soffit, fascia, gutters, 31 new windows, and the removal of five trees for improved property aesthetics. Units have seen varying levels of renovation, ensuring minimal capital improvements for the new owner. On-site laundry currently offered free—convert to coin-operated or tenant-billed utilities to increase revenue. Value-add potential through rent increases and utility optimization makes this a smart buy for any investor looking to grow their portfolio in a quiet, stable market.
Location
State IA
County Adair
Area Bridgewater
Zoning MF
Rooms
Basement Crawl Space, Finished
Interior
Heating Baseboard, Electric
Cooling Window Unit(s)
Furnishings Unfurnished
Fireplace No
Appliance Built-In Oven, Refrigerator
Exterior
Utilities Available Electricity Available, Water Available
Roof Type Asphalt,Shingle
Private Pool No
Building
Foundation Block, Poured
Sewer Public Sewer
Water Public
Schools
School District Nodaway Valley
Others
Tax ID 0932453002
Monthly Total Fees $309
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
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Listed by Pella Real Estate Services
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Brenda Zobel-Moody