510 S Jefferson Way - Apartments FOR SALE


Indianola, IA 50125
$205,000 USD
515-249-9192
510 S Jefferson Way, Indianola, IA for Sale
$205,000 USD
Apartments - FOR SALE
1/7
null | Request Cap Rate

510 S Jefferson Way
Indianola, IA 50125


HIGHLIGHTS

  • Existing rental income of $1,775 per month provides immediate cash flow at closing.
  • Two-unit duplex configuration allows income diversification across multiple tenants.
  • Property is offered with existing long-term tenants and month-to-month tenancy in place.
  • Located along the Highway 65/69 corridor with convenient access throughout Indianola and the Des Moines region.
  • Positioned directly across from South Casey's, providing strong visibility and recognizable surroundings.
  • Annual operating expenses are reported at approximately $4,300.

OVERVIEW

510 S Jefferson Way presents an opportunity to acquire an income-producing duplex in Indianola, Iowa. The property is being offered with existing tenancy in place, including long-term occupants and month-to-month tenants, providing immediate cash flow from day one. Current rental income totals $1,775 per month, offering investors a stabilized revenue stream with future flexibility as leases mature. Positioned along the Highway 65/69 corridor and directly across from the South Casey's convenience store, the property benefits from a highly visible location within an established area of Indianola. The location provides convenient access throughout the community and offers connectivity to the greater Des Moines metropolitan region via major transportation routes. Indianola serves as the county seat of Warren County and is home to Simpson College, supporting a diverse local economic base and year-round housing demand. The duplex configuration allows investors to diversify rental risk across two units while maintaining a manageable property footprint. Existing occupancy provides immediate operational continuity, while the presence of month-to-month tenancy may offer future opportunities for rent adjustments or strategic repositioning based on market conditions. With annual operating expenses reported at approximately $4,300, the property offers a straightforward investment profile suitable for investors seeking current income and long-term ownership potential.

FOR SALE DETAILS

PRICE

$205,000 USD

PRICE/SF

$98 USD /SF

# OF UNITS

2

PRICE/UNIT

$102,500

CAP RATE

Request Cap Rate

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1900

PARKING SPACES

2

LAND DETAILS

LAND ACRES

0.25 AC

LAND SF

10,686 SF

ZONING

R

APN/PARCEL ID

48300060050

ASK ABOUT THIS PROPERTY

Terry PaulingEXIT Realty North StarMore Info
515-249-9192

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Terry PaulingEXIT Realty North StarMore Info
515-249-9192

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