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    204 3 St SW Rake, IA 50465

    For Sale
    $299,900

    Apartment - Rake, IA

    Type:Apartment
    Lot size:
    1.74 Acres
    Days on Market:
    115
    Last Refresh:
    Dec 6 at 8:06 pm

    Property Features for 204 3 St SW

    General Information

    Property type
    Commercial Sale
    Property subtype
    Apartment
    Standard status
    Active
    APN
    0116177001
    Lot size
    1.74 Acres

    Utilities

    Heating system
    Forced Air

    Building Details

    Year built
    1970
    Number of units
    8
    Building materials
    Brick
    Architectural style
    Other

    First Choice Realty (641) 585-2404 [email protected]

    Listing agent Bethanie Farus (641) 585-2404 License #***

    Listing date Aug 14, 2025

    MLS# 6319790 Listing URL

    Copyright © 2025 NoCoast MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Turnkey Apartment Building in Rake

    This is an 8-unit apartment complex featuring two 4-unit buildings situated side-by-side on a 1.74-acre lot. The property is located in Rake, Iowa. The units have been recently updated with fresh paint, new flooring, and new plumbing. Many units also feature new kitchen cabinets and bathroom updates. The property offers positive cash flow and additional upside. The property is located in a nice, stable small town. There is room for increasing rents without major updates.
    Property Profile Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Map

    City
    Rake
    County
    Winnebago
    State
    Iowa
    Longitude
    -93.923056
    Latitude
    43.482541

    Nearby Similar for Sale

    • $325,900
      1.74 Acres

      Rake, IA 8-Unit Apartment Complex

      Turnkey multifamily, positive cash flow, great upside.
      204 3 St, Rake, IA 50465
      View Details

    FAQs

    What type of property is this?
    Apartment building - Updated 8-unit apartment buildings on 1.74 acre lot.
    Where is this apartment building located?
    The property is located at 204 3 St SW Rake, IA.
    What is the asking price?
    The asking price for this property is $299,900.
    What are key features of this property?
    This property features: - Turnkey 8-unit apartment complex with positive cashflow.; - Two 4-unit brick buildings on a 1.74 acre lot.; - Recent updates including fresh paint, new flooring, and new plumbing.
    (641) 585-2404
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    204 3 St SW Rake, IA 50465
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

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    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    204 3 St SW Rake, IA 50465
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