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32281821
32281822

515 Main Street, Iowa Falls, IA 50126

Ferris Real Estate
Listed by Ferris Real Estate
$102,000
39 days on market
Updated 26 days ago

515 Main Street

Details
APN 892113288009
Property Type Multifamily
Sub Type Apartment Building, Duplex/Triplex/Quadruplex
Units 3
NOI $14,300
Year Built 1914
Stories 2
Acreage 0.200

Multifamily | 3 Units

Marketing description

This is a great investment opportunity for someone wanting to venture into the rental space or someone who is experienced. This property features three rental units. The first unit is a two story large two bedroom, one bath that features hardwood floors and fireplace. The second unit is a one bedroom, one bathroom that features a large bay window and hardwood floors, recent updates include new stove, new bathroom flooring, toilet and updated bathtub. The third unit is on the second level and is a recently remodeled one bedroom, one bath. The basement area has great potential to be turned back into a fourth unit, currently has plumbing for a kitchen, has a bathroom/shower and could be another two bedroom unit. The basement also features a laundry room for the entire building. The building does have a shared driveway with the neighbors through an easement. The building currently has a property manager that is willing to stay on with the property if the new owner would like. The units in this building do not stay empty for long and is a great income opportunity for anyone! Come see your new investment today!
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Listing Contacts

Ferris Real Estate
Listed by Ferris Real Estate

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Loan Amount
$0.00
Annual Debt Service
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Annual Cash Flow
$14,300.00
$1,191.67/mo

Valuation Metrics

0
DSCR
14.02%
Cap Rate
14.02%
ROI

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