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    2121 Greene St Adel, IA 50003

    For Sale
    $2,200,000

    MULTI_FAMILY - Adel, IA

    Type:Apartment
    Days on Market:
    86
    Last Refresh:
    Dec 11 at 6:06 am

    Property Features for 2121 Greene St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Apartment
    Standard status
    Active
    Zoning
    Multi
    Rooms
    Bedroom 33, Bathroom 7, Bedroom 23, Bedroom 24, Bedroom 28, Bedroom 11, Bathroom 14, Bathroom 19, Bathroom 24, Bedroom 16, Bedroom 7, Bedroom 9, Bathroom 8, Bathroom 22, Bedroom 20, Bedroom 31, Bathroom 23, Bedroom 15, Bedroom 30, Bathroom 11, Bedroom 13, Bathroom 9, Bedroom 1, Bedroom 8, Bathroom 12, Bedroom 27, Bedroom 19, Bedroom 3, Bedroom 4, Bedroom 2, Bedroom 25, Bathroom 1, Bathroom 13, Bathroom 18, Bathroom 4, Bedroom 5, Bedroom 17, Bathroom 3, Bathroom 6, Bathroom 20, Bathroom 10, Bedroom 6, Bathroom 2, Bathroom 5, Bathroom 17, Bedroom 14, Bedroom 26, Bedroom 32, Bathroom 16, Bedroom 22, Bedroom 29, Bathroom 15, Bedroom 10, Bathroom 21, Bedroom 18, Bedroom 12, Bedroom 21
    Bedrooms
    33
    Bathrooms
    24

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Natural Gas, Forced Air
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1984
    Number of units
    24
    Flooring type
    Carpet
    Building materials
    Brick, VinylSiding
    Roof type
    Shingle, Asphalt

    Exit Realty Capital City (515) 991-4204 [email protected]

    Listing agent Timothy Schutte (515) 253-3948

    Listing date Sep 17, 2025

    Copyright © 2025 Des Moines Area Association of REALTORS®, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Multifamily Investment Opportunity in Adel

    This 24-unit multifamily property in Adel, IA, presents an investment opportunity. The property features a mix of 12 two-bedroom units, 9 one-bedroom units, and 3 studio apartments. Each residence includes a full bathroom and essential appliances such as a stove, refrigerator, and microwave. Dishwashers are included in all units except the studios. Approximately 50% of the units have been fully renovated with modern upgrades, including new flooring, fresh paint, updated trim, enhanced lighting, stylish kitchen cabinetry, and updated appliances. On-site coined laundry adds convenience for residents. The property's location and rental mix offer investors immediate income and long-term growth potential.
    Property Profile Location Intelligence

    Current Use by Public Records

    Adel Village Apartments Apartment Building Beal Development Corporation Contractor

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Clothing Store Building Supply Gym & Fitness Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Adel
    County
    Dallas
    State
    Iowa
    Longitude
    -94.035259
    Latitude
    41.612112

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    FAQs

    What type of property is this?
    Apartment building - 24-unit multifamily property with strong rental mix in Adel, IA.
    Where is this apartment building located?
    The property is located at 2121 Greene St Adel, IA.
    What is the asking price?
    The asking price for this property is $2,200,000.
    What are key features of this property?
    This property features: - 24-unit multifamily property offering immediate income and long-term growth potential.; - Balanced unit mix featuring 12 two-bedroom, 9 one-bedroom, and 3 studio apartments.; - Approximately 50% of units are fully renovated with modern upgrades.
    (515) 253-3948
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    2121 Greene St Adel, IA 50003
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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

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    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
    2121 Greene St Adel, IA 50003
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