Ottumwa, IA Apartment buildings for sale

Updated: Apr 23

7-Unit Apartment Building

436 N Jefferson Street, Ottumwa, IA 52501

$165,000

Seven‑unit apartment building with all units occupied
Separate electric meters for each unit
Landlord pays water, sewer, and trash
Built in 1900 with vinyl siding
Baseboard heating

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Updated: Feb 12, 2025

Elderly Section 8 Apartment Portfolio

118 S Union St, Ottumwa, IA 52501

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Two elderly‑designated apartment communities in southeastern Iowa sold together, totaling 90 units (46 + 44).
100% of units are covered by Project‑Based Section 8 with renewed subsidy contracts under Option 3b.
River Terrace Apartments (Keokuk): 46 units, built in 1981; Section 8 contract renewed July 1, 2023, extended to May 31, 2033.
Hillside Apartments (Ottumwa): 44 units, built in 1982; Section 8 contract renewed September 1, 2020, extended to August 31, 2040.
River Terrace site: 2.07 acres; Hillside site: 2.55 acres.

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See what stands out in Wapello County

We check every for-sale listing in the county against comparable properties across the country. Most price about where you would expect. A few are worth a second look.

We check every listing here. A few are worth a second look.

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Based on your search, we've compiled 7 Potential Opportunities for your consideration. Besides 2 Active listings in Ottumwa, IA, we suggest exploring several alternatives: 4 properties in Nearby Cities, and similar 1 Off-Market properties to explore as potential leads

Opportunities in Nearby Cities

Here are 4 Similar properties we found in Nearby Locations for your consideration.

Mixed-Use Building With Apartments

312 & 316 N 12th Street, Centerville, IA 52544

$385,000

0.18 AC lot

Brick commercial building with upper-level apartments and Business/Commercial zoning.

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Renovated 12-Unit Apartment Building

206 Weaver Road, Bloomfield, IA 52537

$600,000

1.26 AC lot

Multifamily property with varied unit layouts, updated kitchens, included appliances, and onsite coin-operated laundry.

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Mixed-Use Property with Apartments

113 114 E Jefferson St, Bloomfield, IA 52537

$350,000

Occupied apartments and commercial space combine residential and retail income within one downtown building.

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Mixed-Use Property with Storefronts

115 W Van Buren Street, Centerville, IA 52544

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Commercial frontage and six residential units create a combined retail and apartment configuration.

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Off-Market Properties in Ottumwa, IA

Consider similar Off-Market properties in Ottumwa, IA. You may contact the owners directly to inquire about their potential intentions to sell. To help you make a strong first impression, we can assist by reaching out to these owners with compelling proposals created using our AI tool.

Multifamily properties

118 Union St, Ottumwa, IA 52501

Value Estimation by Request

2.07 AC lot

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Ottumwa, IA Apartment Buildings Market Trends and Statistics

Explore 3 apartment buildings for sale in Ottumwa, IA on our real estate platform.

Sale prices for two-family homes in Ottumwa, IA average $165,000 — offering options for a variety of budgets and business needs. Daily updated analytics ensure you stay ahead with the latest data and market trends.

Neighborhood	Average Price
52501	$165K

Neighborhood

Average Price

52501

$165K