Listed by Gateway Real Estate Advisors
$175,000
21 W 1st Street
Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 3,116
Units 6
Occupancy 30%
Price per SqFt $56
Class C
Year Built 1949
Stories 3
Lot Size (SqFt) 5,368
Investment Type Value Add
Multifamily | 6 Units | $29,167/unit
Marketing 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 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.
Unit Breakdown: 5 x 1 Bed/1 Bath; 1 x 3 Bed/1 Bath.
Conveniently located near downtown Spencer amenities, this is a prime opportunity for investors looking to build equity and increase long-term cash flow.
Listing Contacts
Listed by Gateway Real Estate Advisors
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