1906 90th Avenue, Algona, IA 50511
sale
$1,200,000
|
Apartment
Courtesy Of Farm & Home Services
Exceptional opportunity to acquire a fully renovated multi-family asset with strong in place income & significant upside potential. This facility has been thoughtfully converted into a well maintained apartment complex, offering immediate, significant cash flow. The property features updated units with modern finishes, attractive stable tenancy & consistent rental demand. Major improvements have already been completed, allowing a new owner to step into a turn key investment with minimal deferred maintenance. The expansive lot offers ample space for additional development. This flexibility provides multiple avenues to increase revenue and overall asset value. Located in a stable rental market in Algona, the property benefits from steady demand and a strong tenant base, making it ideal for both seasoned investors & those looking to grow their portfolio. Whether you're seeking a reliable income producing property or a strategic investment with future development potential, this offering delivers on both fronts. Currently there are 12 apartments & 2 studio commercial spaces with garages.
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Property Features
- Age: Over 50 Years Old
- Amenities: Disabled Access
- Building Units: 14
- Exterior Type: Brick
- Heating System: Forced Air
- Legal Description: Parcels A & B Loc in SW NW as Desc by Surveys #2002-1725 & #2003-4570
- MLSID: 6338015
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