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    Spencer, IA Apartment Buildings for Sale

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    Fostoria, IA Everly, IA Milford, IA
    Value-Add 6-Unit Apartment Building
    $175,000
    4,308 SF

    Value-Add 6-Unit Apartment Building

    21 W 1ST ST, Spencer, IA 51301

    Partially remodeled 6-plex with two units rented and four units ready for renovation and lease-up to boost returns.

    • 6‑plex in Spencer, IA with 2 of 6 units currently rented for immediate income
    • Partially remodeled property—some improvements already underway, with remaining units ready for renovation and lease‑up
    • Year built: 1949
    • Heating: baseboard; cooling: window unit(s)
    Updated: Feb 24
    View details
    Based on your search, we've compiled 9 Potential Opportunities for your consideration. Besides 1 Active listings in Spencer, IA, we suggest exploring several alternatives: 4 properties in Nearby Cities, plus 4 Land Listings that present a potential for development.

    Opportunities in Nearby Cities

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

    Versatile Commercial Building in Blue Earth
    $800,000
    5,500 SF

    Versatile Commercial Building in Blue Earth

    Adaptable 5,500+ sq ft commercial building with many potential uses.

    311 S Nicollet Street, Blue Earth, MN 56013
    View details
    Value-Add Apartment Opportunity
    $1,300,000
    19,200 SF

    Value-Add Apartment Opportunity

    Apartment complex with value-add potential in Blue Earth, Minnesota.

    830 Moore St., Blue Earth, MN 56013
    View details
    Luverne Multifamily Investment Opportunity
    $1,750,000
    2.22 Acres

    Luverne Multifamily Investment Opportunity

    32-unit complex in Luverne, near amenities and recreation.

    109 E Luverne Street, Luverne, MN 56156
    View details
    New Multifamily Property with Amenities
    $7,000,000

    New Multifamily Property with Amenities

    Multifamily property built in 2023 with assumable HUD loan.

    120 W Hatting St, Luverne, MN 56156
    View details

    Potential Development Sites for Consideration

    Can't find the perfect fit? These Land listings present an alternative path: the potential to develop a property for your specific goals.

    Important: These AI-suggestions are a starting point, not a guarantee of permitted use. All zoning, permitting, and land use information must be independently verified by you with the appropriate local authorities before making any commitments.

    Prime Development Land, Springfield MO
    $2,850,000
    29.20 Acres

    Prime Development Land, Springfield MO

    29.2 acres of retail-zoned land for mixed-use development.

    N West Bypass, Springfield, MO 65802
    View details
    Norman Land For Luxury Condos
    $285,000
    0.74 Acres

    Norman Land For Luxury Condos

    Prime Norman land suitable for luxury condos development.

    801 NW 36th Avenue, Norman, OK 73072
    View details
    Buildable Lot for Luxury Condos
    $285,000
    0.74 Acres

    Buildable Lot for Luxury Condos

    0.74 acre buildable lot zoned for low-density apartments.

    801 36th Ave NW, Norman, OK 73072
    View details
    Asheville Development Opportunity: 5.94 Acres
    $2,500,000
    5.94 Acres

    Asheville Development Opportunity: 5.94 Acres

    5.94-acre parcel zoned RM6, ideal for multi-family development.

    215 N Bear Creek Road, Asheville, NC 28806
    View details

    Spencer, IA Apartment Buildings Investment Opportunities Market Analysis

    Explore 1 apartment buildings for sale in Spencer, IA on our real estate platform. These investment opportunities span a total of 4,308 square feet of properties for sale, with an estimated market value of $175,000.

    Sale prices for two-family homes in Spencer, IA start at $175,000, averaging $175,000, and reaching up to $175,000 — 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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    Demographics Overview

    Population 12K
    Population Growth (5Y) +0.0%
    Median Household Income $61,175
    College Educated 35.9%

    High-Yield Neighborhoods for Investment

    Identify Spencer submarkets with the highest inventory density on the market and evaluate the median listing prices of real estate assets

    Neighborhood Average Price
    51301 $175K

    Taxes & Financing

    Tax Rate (average for all types) 2.27%
    Property Tax per SF $32.12 per sq ft
    Tax Rate vs County Average 0.19 pp above county avg
    Average Loan-to-Value 65.0%

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