Pine Ridge Apartments is mid-conversion from a motel to a multi-family residence building. 8 1br apartments are completed and ready to rent in a college-town market where rentals are in high demand. 16 historical motel rooms are ready for conversion to 8 more 1 bedroom apartments or can be set up as 16 separate efficiency -units or motel/air-bnb units. There is a very spacious 3br, 2bath inn-keepers quarters upstairs that can be an additional rental unit or accommodations for live-in owner/manager. New sprinkler system is installed. New Metal Roof in 2021 New interior wiring and wire on site for upgrade to main service. Nice greenspace and plenty of parking. Bonus garage building in the back. An excellent investment opportunity: Awesome sweat-equity opportunity for a live-in owner/manager with general construction skills. This property is located close to the I35 interstate exchange, a bank, lumberyard, a Maverick Convenience store, two motels, a large locally-owned Iowa Welcome Center, and a municipal airport for private aircraft.