1630 15Th St Rock Valley, IA 51247

This property features a 9-unit apartment complex that was remodeled approximately 20 years ago, with several updates completed over the years. The complex includes 5 apartments on the main level and 4 units on the upper level. A shared laundry facility is available, and a public laundromat is located directly across the street. Each unit is equipped with a separate electric furnace and a central air unit. A new Conklin material flat roof was installed in 2015. The complex offers ample parking and is situated near downtown Rock Valley with amenities. The property generates a steady rental income of $7,975 per month, or $95,700 annually. Recent updates include flooring and paint in some units when new tenants moved in, and four recently replaced water heaters. Apartment 2 received a new air conditioner in 2024. All lease agreements are month to month, except for unit #5, which expires on 12/01/2025. The owner is responsible for Mid-America services (except for unit #2) and currently pays for city water, garbage, and sewer services. Property taxes are $7,782 per year, utilities are $24,000 per year (including Mid-America electric and city water, sewer, and garbage), and insurance is $4,200 per year. The exterior is steel, with a Conklin roof installed in 2015. Rents are as follows: Apt 1 (2 bedroom) $850, Apt 2 (2 bedroom) $925, Apt 3 (2 bedroom) $950, Apt 4 (1 bedroom) $850, Apt 5 (1 bedroom) $800, Apt A (1 bedroom) $850, Apt B (2 bedroom) $850, Apt C (1 bedroom) $850, and Apt D (2 bedroom) $950. The property is located in Rock Valley, Iowa.