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$2,200,000
Est. payment /mo
3 Beds
2 Baths
2,784 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi-Unit
Listing Status Pending
Purchase Type For Sale
Square Footage 2,784 sqft
Price per Sqft $790
MLS Listing ID 834593
Bedrooms 3
Full Baths 2
Year Built 1965
Annual Tax Amount $27,162
Tax Year 2025
Lot Size 2.480 Acres
Acres 2.48
Property Sub-Type Multi-Unit
Property Description
Presenting a 36-unit apartment opportunity at 611 E South St, Marshalltown, IA. Three buildings: 24 one-bed and 12 two-bed units, plus 20 garages & 100% occupied. On-site laundry on two floors of each building. Newer roofs and boilers, with updated units throughout. Offered at $2,200,000 ($61,111/unit) with an in-place 8.06% cap on $177,377 NOI. Rents sit below market, with a path to a 9.34% pro forma cap. East-side location in the Marshall County seat. Employment anchored by JBS pork processing, Emerson Fisher, and Lennox HVAC.
Location
State IA
County Marshall
Area Other Default
Zoning Res 3+
Multi-Unit Info
Total Units 36
Unit 1 Information SqFt: 696; Bedroom: 1; Bathroom: 1; FullBath: 1
Unit 2 Information SqFt: 924; Bedroom: 2; Bathroom: 1; FullBath: 1
Interior
Heating Forced Air
Exterior
Garage Spaces 20.0
Building
Sewer City
Water City
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Listed by Gateway Real Estate Advisors
Nearby School & Business
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