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$175,000
Est. payment /mo
5 Beds
3 Baths
4,308 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi-Unit
Listing Status Active
Purchase Type For Sale
Square Footage 4,308 sqft
Price per Sqft $40
MLS Listing ID 831915
Bedrooms 5
Full Baths 3
Year Built 1949
Annual Tax Amount $3,989
Tax Year 2024
Lot Size 5,227 Sqft
Acres 0.12
Property Sub-Type Multi-Unit
Property Description
21 W 1st Street | Spencer, IA Value-add opportunity in Spencer! This 6-plex offers strong upside for an investor ready to complete renovations and increase cash flow. The property has been partially remodeled, with 2 of the 6 units currently rented, providing immediate income. The remaining 4 units offer the ability to renovate, lease up, and significantly improve overall returns. With improvements already underway, much of the heavy lifting has been started, allowing the next owner to step in and finish the project. Conveniently located near downtown Spencer amenities, this is a prime opportunity for investors looking to build equity and increase long-term cash flow.
Location
State IA
County Clay
Area Surrounding Areas/Other Areas
Zoning res
Multi-Unit Info
Total Units 6
Unit 1 Information SqFt: 450; Bedroom: 1; Bathroom: 1; FullBath: 1
Unit 2 Information SqFt: 550; Bedroom: 1; Bathroom: 1; FullBath: 1
Unit 3 Information SqFt: 700; Bedroom: 3; Bathroom: 1; FullBath: 1
Interior
Heating Baseboard
Cooling Window Unit
Exterior
Garage Spaces 1.0
Building
Sewer City
Water City
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Listed by Gateway Real Estate Advisors
Nearby School & Business
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