218 E 4th St - Apartments FOR SALE


Spencer, IA 51301
$1,200,000 USD
712-260-1075
218 E 4th St, Spencer, IA for Sale
$1,200,000 USD
Apartments - FOR SALE
1/6
null | 6.1% Cap Rate

218 E 4th St
Spencer, IA 51301


HIGHLIGHTS

  • New windows in each building, Converted Electrical from fuses to breakers, new boilers, new water heaters, 4 of 16 units renovated. Contact for more.

OVERVIEW

Turnkey Real Estate Investment For Sale: Here is an opportunity to gain control of this solid and proven real estate investment. Add this property to your existing rental real estate portfolio revenue or possibly utilize for 1031 tax exchange needs. Well maintained 16 unit apartment building located at 208 & 218 East 4th Street, Spencer, IA. Consists of 8 two bedroom units and 8 one bedroom units. 14 detached single car garages, 4 additional parking spaces in rear parking area. Three sets of new coin operated washer/dryer machines located on the property. Many major updates to the property have been made to the property since 2022. Asking $1.2 million. Text Your Name and personal email address to 712-260-1075 for further information on the property.

FOR SALE DETAILS

PRICE

$1,200,000 USD

PRICE/SF

$78 USD /SF

# OF UNITS

16

PRICE/UNIT

$75,000

CAP RATE

6.1%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Nelson Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1967

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.6 AC

LAND SF

26,136 SF

ZONING

Multi Residential

APN/PARCEL ID

9636-18-130-004

ASK ABOUT THIS PROPERTY

Kent NelsonKMN Property HoldingsMore Info
712-260-1075

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Kent NelsonKMN Property HoldingsMore Info
712-260-1075

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