2212 Okoboji Ave - Apartments FOR SALE


Milford, IA 51351
$950,000 USD
712-226-8003
2212 Okoboji Ave, Milford, IA for Sale
$950,000 USD
Apartments - FOR SALE
1/7
null | 6.56% Cap Rate

2212 Okoboji Ave
Milford, IA 51351


HIGHLIGHTS

  • Resilient Local Economy: Dickinson County posts a 2.4% unemployment rate and $74,570 median household income, supporting consistent rental demand.
  • Prime Lake-Region Positioning: Located minutes from the Iowa Great Lakes recreational corridor, one of Iowa's most established seasonal tourism markets.
  • Ideally situated in Milford, Iowa, the property benefits from its proximity to the renowned Iowa Great Lakes recreational corridor, ensuring consistent rental demand year-round.
  • Ten fully occupied apartments deliver reliable cash flow from a proven rental history, while seven furnished dorm-style rooms add flexible short-term or extended-stay revenue streams.
  • Near Okoboji High School Great Lakes Iowa.

OVERVIEW

Prairie Wind Apartments is a distinctive 17-unit community that blends traditional apartment living with furnished, dorm-style rooms, giving ownership the flexibility to run long-term leases alongside higher-turnover short-stay income. Built in 1947 in Milford, Iowa, the property has a proven rental history and sits within easy reach of the Okoboji lake region's recreational draw. It's a straightforward, fully occupied asset with room to grow into its market rents. Offered at $950,000.

FOR SALE DETAILS

PRICE

$950,000 USD

PRICE/SF

$107 USD /SF

# OF UNITS

17

PRICE/UNIT

$55,882

CAP RATE

6.56%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Prairie Wind Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1947

PARKING SPACES

17

LAND DETAILS

LAND ACRES

0.44 AC

LAND SF

19,166 SF

ZONING

M-Residential

APN/PARCEL ID

11-06-151-009

ASK ABOUT THIS PROPERTY

Daniel StillsonGateway Real Estate AdvisorsMore Info
712-226-8003

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Daniel StillsonGateway Real Estate AdvisorsMore Info
712-226-8003

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