1605 Collins St - Apartments FOR SALE


Webster City, IA 50595
$1,385,000 USD
515-453-5403
1605 Collins St, Webster City, IA for Sale
$1,385,000 USD
Apartments - FOR SALE
1/13
null | 7% Cap Rate

1605 Collins St
Webster City, IA 50595


HIGHLIGHTS

  • Strong rental demand supported by low vacancy and limited new supply.
  • Reported 7% cap rate with consistent historical NOI performance.
  • Located near major employers and community amenities in Webster City.
  • Convenient access to U.S. Highway 20 and regional transportation routes.

OVERVIEW

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.

FOR SALE DETAILS

PRICE

$1,385,000 USD

PRICE/SF

$157 USD /SF

# OF UNITS

24

PRICE/UNIT

$57,708

CAP RATE

7%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1989

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.5 AC

LAND SF

65,387 SF

ZONING

-

APN/PARCEL ID

40-88-26-02-401001

ASK ABOUT THIS PROPERTY

Daniel DempseyNAI Iowa Realty CommercialMore Info
515-453-5403

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Daniel DempseyNAI Iowa Realty CommercialMore Info
515-453-5403

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.