Price Reduced Listing
Description
Investment Opportunity This well-maintained, single-owner apartment complex offers an exceptional turn-key investment in a stable Iowa community. Consisting of 3 buildings totaling 7,824 square feet on a generous 0.89-acre lot, the property features 22 units -all configured as spacious 2-bedroom, 1-bathroom layouts - and enjoys 100% occupancy, delivering immediate and reliable cash flow. Built in 1996 with solid construction, this vintage-style multi-family property provides functional and comfortable floor plans that continue to attract long-term tenants. The complex includes ample parking and outdoor space, situated in a convenient location near downtown Colfax with easy access to local amenities, schools, and major transportation routes. Key Highlights: 22 units ? all 2 bed / 1 bath -100% occupancy with strong rental demand -Single-owner property (family-owned and operated) -3 buildings totaling 7,824 sq ft on 0.89 acres -Vintage charm with practical, well-built design -Excellent parking and outdoor space -Strong income-producing asset Perfect for investors seeking a fully occupied, cash-flowing multi-family property with consistent performance. Colfax's small-town appeal combined with proximity to larger employment centers supports continued tenant stability and demand. Serious inquiries only - contact for detailed financials, rent roll, unit photos. All information obtained from seller and public records.
Details
| MLS # | 741575 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1996 |
| Days On Site | 90 |
| Listing Provided By | RE/MAX Precision | Jason Ring |
Features
| Bed(s) | 44 |
|---|---|
| Bath(s) | 1 Total |
| SQ Feet | 9,420 |
| Zoning | MR R3 |
| Acreage | 0.89 |
Taxes
| Tax Annual Amount | 25254.94 |
|---|
Area Information
| State | IA |
|---|---|
| County | Jasper |
| City | Colfax |
| Zip Code | 50054 |
| Area | Colfax |
| Listing VS Median (in 50054) | |
Price: $1,600,000 low | high Med: $184,450 sqft: 9,420 low | high Med: 1,487 $ / sqft: $170 low | high Med: $125 On site: 90 low | high Med: 77.5 | |
Request a showing
Request a showing
Contact
Learn More About This Property
| State | IA |
|---|---|
| County | Jasper |
| City | Colfax |
| Zip Code | 50054 |
| Area | Colfax |
| Listing VS Median (in 50054) | |
Price: $1,600,000 low | high Med: $184,450 sqft: 9,420 low | high Med: 1,487 $ / sqft: $170 low | high Med: $125 On site: 90 low | high Med: 77.5 | |
