Willow Glen Apartments presents a 24-unit multifamily investment opportunity in Webster City, Iowa. Located just south of Webster City High School, this property consists of 16 two-bedroom units and 8 one-bedroom units, with 23 of the 24 units recently updated. The asset benefits from strong rental demand in a market characterized by low vacancy and limited new supply, providing a stable income stream for investors.
The property offers a value-add component through the potential implementation of RUBS (Ratio Utility Billing System) or utility bill-back programs, enhancing operational efficiency and revenue. Positioned in Hamilton County’s county seat, the property is near major employers such as Van Diest Supply, Mary Ann’s Specialty Foods, and Webster City Custom Meats, ensuring a consistent tenant base.
With a reported 7% cap rate and an average NOI of approximately $97,000 over the past three years, this property offers both immediate cash flow and long-term appreciation potential. Its proximity to key retail, dining, and community amenities further strengthens its appeal as a reliable multifamily investment in a growing regional market.