Price Reduction
Address
615 East ST Grinnell, IA
Price
$ 2,400,000
Property Attributes
  • MLS#537574
  • TypeMulti-Family
  • CountyPOWESHIEK
  • CityGrinnell
  • AreaGrinnell
  • Zip50112
  • StyleApartment Style
  • Year Built1986
  • Taxes44378
  • Price$ 2,400,000
  • Bedrooms92
  • Full Bathrooms0
  • Half Bathrooms0
  • Lot Size3.08 Acres
Listing Provided Courtesy Of:
RE/MAX Partners Realty
Property Description

Huge investment potential! 6 apartment buildings with 43 2 bedroom units, 6 1 bedroom units, 28 garage units, 2 commercial retail/office units. 615, 627 & 631 East St, 616 & 628 High St, 1109 & 1115 West St. Very low vacancy. Average rent of about $575.00 for the 2 bedroom units, $425.00 for the one bedroom units, $50.00 for the one stall garages, Most of the units have been greatly renovated and improved. After much hard work and a lot of capital, these properties have been transformed into some of the nicest apartment rentals in Grinnell. Representing a large fraction of Grinnell's rental marketshare, and in their current condition, these remarkable properties will be able to produce generous income for many years to come. Don't miss out on the opportunity of these proven and producing income properties. Owner of this property currently has an inactive IA real estate license.

Elementary School Middle School High School
Unknown Elementary School Unknown Middle School Unknown High School
Price History
4/18/2017 Listed $2,600,000
8/18/2017 8% - $2,400,000

General Features

Landlord Tenant Utilities Building Insurance Owner, Electric Tenant, Electric Tenant, Taxes Owner, Water Owner, Water Tenant
School District GrinnellNewburg
Street Feature Asphalt
Style Apartment Style
Terms Available Cash, Conventional
Zoning M

Interior Features

A/C Window Unit
Fb 1 St 6
Fb 2 Nd 43
Heat Electric Baseboard
Heat Source Electric
Kitchens Total 49
Living Area Sq Ft 21963
Total 1 Bedroom Units 6
Total 2 Bedroom Units 43

Exterior Features

Acres 3.0800
Driveway Concrete
Foundation Concrete Block
Garage 4+ Detached
Off Street Parking multiple parking lots
Roof Asphalt Shingle, Metal
Water City

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Pets
  • Master On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Zip Code Average in 50112

Price
AVG $950K
$2,400K
Taxes
AVG $15,815
$44,378
Visits
AVG 28
35
Year Built
AVG 1993
1986
Walkscore
AVG 58
50

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