Iowa Apartment Buildings for Sale

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Des Moines, IA Cedar Rapids, IA Sioux City, IA Waterloo, IA Dubuque, IA Iowa City, IA Davenport, IA Cedar Falls, IA

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Updated: May 7

Updated 5-Unit Apartment Building

2931 Kingman Boulevard, Des Moines, IA 50311

$385,000

3,367 sqft 0.26 AC lot

5‑unit property grossing $4,140/month in the Kingman neighborhood of Des Moines
Unit rental rates: $1,200 (Unit 1), $815 (Unit 2), $695 (Unit 3), $835 (Unit 4), $595 (Unit 5)
200 amp service metered to each unit
Units have been updated with fresh paint and carpet; majority of hardwood flooring being refinished
Each unit has assigned off‑street parking, plus a detached car garage on‑site

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This listing looks promising.

Here's a quick look at some key insights for

2931 Kingman Boulevard, Des Moines, IA 50311

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Est. Cap Rate

7.3%
Above avg (5.9%)
Est. NOI

$28K
Annual
Price @ 7% Cap

$401K
Above asking
Property Type

Multi-Family Dwellings
Built 1909

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Updated: Jul 1

Two-Story 12-Unit Apartment Building

515-525 S COLLEGE ST, Sioux City, IA 51106

$960,000

6,526 sqft 0.56 AC lot

12‑unit multifamily built in 1976, offered at $960,000 ($80,000/unit).
Fully occupied: 100% occupancy and $66,748 in NOI reported.
Unit mix includes four 2BR/1BA and eight 1BR/1BA units.
7 of 12 units updated; remaining units offer value‑add potential for a new owner.
Two‑story property with ample on‑site parking.

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Residential Income Apartment Building

2429-47 Williams Ave., Sioux City, IA 51103

$825,000

6,625 sqft 0.69 AC lot

Apartment building with 13 units, 100% occupancy, and appliances included with tenant-paid utilities except water.

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Renovating 7-Unit Apartment Building

1005 S GLASS ST, Sioux City, IA 51106

$630,000

5,610 sqft 0.17 AC lot

Seven 1BR/1BA units with private entries and in-wall AC, 100% occupied, with three units renovated by current ownership.

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Mixed-Use Redevelopment with Parking

1104 S Gilbert St, Iowa City, IA 52240

$1,975,000

14,879 sqft

Three-parcel mixed-use property with leased multifamily units, commercial tenants, and ample parking for flexible future use.

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Two-Bedroom 8-Unit Apartment Portfolio

16 Aossey Lane SW, Cedar Rapids, IA 52404

$2,100,000

36,000 sqft 1.52 AC lot

32-unit multifamily property with spacious two-bedroom, one-bath apartments in four well-maintained eight-unit buildings.

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7-Unit Residential Income Building

3312 TRANSIT AVE, Sioux City, IA 51106

$630,000

2,944 sqft 0.24 AC lot

Single-story 7-unit building with 1BR/1BA units, coin laundry, and seven dedicated off-street parking spaces.

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Downtown Mixed-Use Residential Building

546 2nd Street, Webster City, IA 50595

$875,000

19,980 sqft 0.25 AC lot

Brick and steel building combines apartments and leased commercial suites in Webster City’s downtown corridor.

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30-Unit Multifamily Apartment Complex

806 15th Avenue SW, Cedar Rapids, IA 52404

$1,900,000

23,590 sqft

Well-maintained four-building apartment complex with updated interiors, off-street parking, and on-site laundry facilities.

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10-Unit Apartment Building with Garages

1010-1020 Williams DR., Fort Dodge, IA 50501

$625,000

12,438 sqft 0.06 AC lot

10 units each with separate utilities and appliances, plus 10 garage stalls, in a compact residential setting.

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Turnkey 8-Plex Rental Property

215 Jewel Drive, Ames, IA 50010

$995,000

8,267 sqft 0.57 AC lot

Well-maintained 8-unit multifamily building with multiple two- to four-bedroom layouts and two full baths per unit.

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Renovated 12-Unit Multifamily Property

2411 WELBECK RD, Des Moines, IA 50310

$950,000

8,784 sqft

Twelve fully renovated 2-bedroom units are offered with residential utility bill-back in place.

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Grand Avenue Multifamily Investment

3103 Grand Avenue, Des Moines, IA 50312

$595,000

3,967 sqft 0.53 AC lot

Multi-family property with strong income potential in desirable Grand Avenue.

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6-Unit Apartment Building

416 Michigan, Storm Lake, IA 50588

$260,000

5,015 sqft 0.17 AC lot

Six-unit apartment building with exterior parking and shared basement laundry with coin-operated facilities.

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Six-Story Multifamily Building

106 North 10th Street, Fort Dodge, IA 50501

$1,775,000

34,608 sqft 0.23 AC lot

Single-building multifamily property with 48 units in a 6-story structure and surface parking.

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Converted Victorian Five-Unit Property

3400 Ravina Drive, Des Moines, IA 50313

$210,000

4,067 sqft 0.37 AC lot

Five-unit multifamily built in 1897 with preserved Victorian character, attached and detached garages, and laundry hookups.

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11-Unit Multifamily Property

1806 Main Street, Gowrie, IA 50543

$499,900

9,214 sqft 1.14 AC lot

Well-maintained 11-unit apartment community with on-site laundry and dedicated parking on an acre-plus lot.

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Five-Unit Apartment Building

2575 Jackson St, Dubuque, IA 52001

$450,000

4,322 sqft

Fiveplex offers a mix of 2- and 3-bedroom units, a large backyard, and off-street parking.

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Sioux City Studio Apartment Building

923 Douglas Street, Sioux City, IA 51105

$1,122,503

18,032 sqft 0.34 AC lot

Studio apartments near downtown Sioux City with assumable loan.

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Well-Kept Boone Investment Property

316 Boone Street, Boone, IA 50036

$225,000

3,269 sqft 0.25 AC lot

Five-unit residential building with long-term tenants and recent updates.

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Mixed-Use Building with Retail

1102 Mound Street, Davenport, IA 52803

$635,000

6,835 sqft

Two-story, fully leased building with lower-level retail/office space and five upper one-bedroom units.

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24-Unit Multifamily Investment Opportunity

1718 & 1804 Dolores Street, Knoxville, IA 50138

$1,550,000

9,751 sqft 0.68 AC lot

High-performing, fully occupied 24-unit complex in Knoxville, Iowa.

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Turn-Key 22-Unit Apartment Complex

24 N MAPLE ST, Colfax, IA 50054

$1,800,000

7,824 sqft 0.89 AC lot

Well-maintained, fully occupied apartment complex with 22 spacious 2-bedroom units and ample parking on nearly an acre.

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Vacant 6-Unit Multifamily Property

1430 8th Street, Des Moines, IA 50314

$129,000

2,430 sqft 0.17 AC lot

Six-unit multifamily property is fully vacant and cleared, with separate utilities already in place.

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Iowa Apartment Buildings Market Trends and Statistics

Explore 170 apartment buildings for sale in Iowa, showcased through 170 active listings on our real estate platform. These investment opportunities span a total of 1,313,801 square feet of properties for sale, with an estimated market value of $136,116,730.

Sale prices for two-family homes in Iowa start at $64,900, averaging $1,479,529, and reaching up to $9,250,000 — offering options for a variety of budgets and business needs. Daily updated analytics ensure you stay ahead with the latest data and market trends.

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