$139,900 $751 est/mo Sourced by Back At You

111 E 9th Street,Madrid, IA 50156

Madrid IA, 50156

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Description

Discover the potential of this 3-plex multi-family property in the heart of Madrid. This property sits on a sizable double lot and requires some TLC but has a ton of potential! This property is being sold "As Is. It is perfect for savvy investors or those looking to expand their rental portfolio. This 2-story property features a total of 3 units, with 2 units on the main floor and 1 unit occupying the upper level. Each unit has 1 bedroom and 1 bath. Additionally, one of the lower-level units has a non-conforming bedroom/flex space providing additional square footage. Included in this sale is a. .23 acre lot to the north of the property, providing additional space for potential expansion or development projects. This valuable addition enhances the property's long-term investment appeal. A standout opportunity lies in the potential to increase rent rates, as they have remained the same for many years. This presents a clear pathway to boosting rental income and maximizing the property's profitability, making it an attractive proposition for investors seeking solid returns. Whether you're a seasoned investor or an aspiring property owner eager to kickstart your rental portfolio, this is a great investment!

Details

MLS#694100
Listing TypeFor Sale
Sub-TypeResale
StatusPending
Year1885
Days On Site31
Listing Provided ByIowa Realty Ankeny | Jessica Schaffer

Features

Bed(s)3
Bath(s) 3 Total
SQ Feet2,049
BasementY
Story(s)2
Units3
ZoningINC
Acreage0.20
The information is being provided by Des Moines Area Association of REALTORS®. Information deemed accurate but not guaranteed. Information is provided for consumers personal, non-commercial use, and may not be used for any purpose other than the identification of potential properties for purchase. Copyright 2024 Des Moines Area Association of REALTORS®. All Rights Reserved.

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Listings Checked: 4 minutes ago
StateIA
CountyBoone
CityMadrid
Zip Code50156
AreaMadrid
Listing VS Median (in 50156)
Price:
$139,900
low | high
Med:
$285,000
53.716940671909% of Average
SqFt:
2,049
low | high
Med:
1,218
90.556368960469% of Average
$ / SqFt:
$68
low | high
Med:
$234
100% of Average
On Site:
31
low | high
Med:
633.000000
4.897314375987% of Average
Sourced by Back At You
Listing Updated: May 14, 2024 at 1:23:58 AM PDT