Property Description

This well-maintained multifamily property features a 4-unit and 6-unit brick apartment complex on a spacious 0.83-acre lot. The portfolio includes eight 2-bedroom units and two 1-bedroom units, offering stable income with a strong 10% cap rate. Recent upgrades include newer roofs, soffit, fascia, gutters, 31 new windows, and the removal of five trees for improved property aesthetics. Units have seen varying levels of renovation, ensuring minimal capital improvements for the new owner. On-site laundry currently offered free—convert to coin-operated or tenant-billed utilities to increase revenue. Value-add potential through rent increases and utility optimization makes this a smart buy for any investor looking to grow their portfolio in a quiet, stable market.

Features
: Baseboard, Electric
: Window Unit(s)
: Finished, Crawl Space
: Unfurnished
: Public Sewer
Construction
: Asphalt, Shingle
: Poured, Block
MF
Other
0.83 Sqft
Bridgewater
$3,710
Electricity Available,Water Available
$0
$0
Listing Office Info
718083
PRES
Pella Real Estate Services
stephenp@pres1buy.com
Stephen Patel
40006
Location
206 and 212
Street
NW Walnut
US
IA
Adair
Bridgewater
50837
W95° 19' 46.5''
N41° 14' 44.5''
0932453002
From Greenfield, go west on Hwy 92. Take a left on North Main St. towards Bridgewater. Turn right on NW 2nd St. Apartments located on your right.

Multi family For Sale

206 and 212 NW Walnut Street, Bridgewater, Iowa 50837

18 Bedrooms
10 Bathrooms
0.83 Acre
Visits : 27 in 302 days
$415,000
Listing ID #718083
Basic Details
Property Type : Multi family
Listing Type : For Sale
Price : $415,000
Status : Active
Lot Area : 0.83 Acre
Bedrooms : 18
Bathrooms : 10
Baths Total : 10
Agent info
Matt Karjalahti
RE/MAX Partners Realty
932 Main St., Grinnell, IA 50012
Contact Agent

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