2212 Okoboji Ave - Multi-Family FOR SALE


Milford, IA 51351
$1,100,000 USD
712-320-0887
2212 Okoboji Ave, Milford, IA for Sale
$1,100,000 USD
Multi-Family - FOR SALE
1/11
null | 10.04% Cap Rate

2212 Okoboji Ave
Milford, IA 51351


HIGHLIGHTS

  • Substantial updates since 2019, including a new roof, windows, doors, siding, water main, electric, plumbing, new common kitchen, HVAC, landscaping
  • Two of the apartments were added in 2023
  • Common spaces, hallways, dorms, bathrooms and several apartments have been updated
  • Strong, consistent rental history

OVERVIEW

Positioned along Highway 71, this income-producing property presents an exceptional value opportunity with built-in visibility and proven performance. Recently divided, this offering includes exclusively the multifamily apartment portion. The property features 10 fully occupied apartment units backed by a strong and consistent rental history, delivering immediate, dependable cash flow. In addition, 7 furnished dorm-style rooms provide flexible income potential through short-term or extended-stay rentals, creating multiple revenue streams within one investment. With stabilized occupancy, high-exposure location, and room for continued income growth, this multifamily asset offers an attractive combination of stability, flexibility, and long-term upside—making it a smart addition to any investment portfolio.

FOR SALE DETAILS

PRICE

$1,100,000 USD

PRICE/SF

$124 USD /SF

# OF UNITS

17

PRICE/UNIT

$64,706

CAP RATE

10.04%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Prairie Wind Apartments

PROPERTY TYPE

Multi-Family

ADD'L SUBTYPES

Apartments, Dormitory

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1947

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.44 AC

LAND SF

19,166 SF

ZONING

-

APN/PARCEL ID

1106151009,1106151011

ASK ABOUT THIS PROPERTY

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712-320-0887

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Katie SlaterNextHome At The LakesMore Info
712-320-0887

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