Renovation-Ready
21 W 1ST ST Spencer, IA 51301
For Sale
$175,000
MULTI_FAMILY - Spencer, IA
Property Size4,308 SF
Lot Size0.12 Acres
Price / SF$40.62
Days on Market154
Property Features for 21 W 1ST ST
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
res
Bedrooms
5
Bathrooms
3
Rooms
Bathroom 2, Bedroom 1, Bedroom 3, Bathroom 3, Bathroom 1, Bedroom 4, Bedroom 2, Bedroom 5
Standard status
Active
APN
19041-963618134010
Size
4,308 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
12 G O.P.
Tax Annual Amount
3989
Utilities
Heating system
Baseboard
Cooling system
Window Unit(s)
Building Details
Year built
1949
Number of units
6
Listing Agency:
Gateway Real Estate Advisors
(712) 226-8000
Listed By:
Nic Madsen · License #S67281000
(712) 540-6562
Added: Feb 24
Changed: Jul 22
Last Checked: Jul 28 at 3:06PM
MLS# 831915
Copyright © 2026 Northwest Iowa Regional Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This partially remodeled 6-unit multifamily property offers a mix of in-place income and space for additional updates. Two of the six units are currently rented, while the remaining four units present room for renovation and lease-up. The listing notes that improvements are already underway, with the expectation that the next owner can complete the work.
The property is located at 21 W 1st Street in Spencer, Iowa (Clay County).
The building is positioned as an income-generating asset with ongoing renovation already in motion, giving an owner the ability to finish remaining unit improvements and move additional units toward occupancy.
The property is located at 21 W 1st Street in Spencer, Iowa (Clay County).
The building is positioned as an income-generating asset with ongoing renovation already in motion, giving an owner the ability to finish remaining unit improvements and move additional units toward occupancy.
Key Highlights
- 6‑plex in Spencer, IA with partial remodeling—2 of 6 units currently rented
- Value‑add setup with 4 remaining units to renovate and lease up for increased cash flow
- Built in 1949, offering baseboard heating and window unit cooling
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Apartment building - Partially remodeled 6-plex with 2 units rented and 4 units available for renovation and lease-up.
Where is this apartment building located?
The property is located at 21 W 1ST ST Spencer, IA.
What is the asking price?
The asking price for this property is $175,000.
What are key features of this property?
This property features: 6‑plex in Spencer, IA with partial remodeling—2 of 6 units currently rented; Value‑add setup with 4 remaining units to renovate and lease up for increased cash flow; Built in 1949, offering baseboard heating and window unit cooling
