15-Unit Apartment
For Sale
$2,900,000
409 E 9th Street, Malvern, IA 51551
Residential Income, Malvern, IA
Property Size17 SF
Lot Size1.71 Acres
Price / SF$170,588
Days on Market332
Property Features for 409 E 9th Street
General Information
Property type
Residential Multi Family
Property subtype
Apartment
Bedrooms
41
Bathrooms
24
Full bathrooms
24
Rooms
Bedroom 4, Bedroom 11, Bathroom 22, Bedroom 25, Bathroom 21, Bedroom 27, Bedroom 20, Bedroom 17, Bedroom 21, Bedroom 3, Bathroom 4, Bedroom 15, Bedroom 33, Bathroom 11, Bedroom 35, Bedroom 34, Bathroom 13, Bedroom 40, Bedroom 39, Bedroom 9, Bedroom 24, Bedroom 26, Bedroom 14, Bedroom 37, Bathroom 19, Bathroom 24, Bathroom 23, Bedroom 32, Bedroom 41, Bedroom 38, Bathroom 18, Bedroom 2, Bathroom 6, Bedroom 12, Bathroom 16, Bathroom 17, Bedroom 6, Bedroom 8, Bedroom 18, Bathroom 9, Bathroom 12, Bathroom 5, Bedroom 7, Bathroom 2, Bathroom 15, Bedroom 16, Bedroom 1, Bathroom 7, Bedroom 19, Bedroom 5, Bathroom 8, Bathroom 10, Bedroom 31, Bathroom 20, Bedroom 29, Bedroom 22, Bedroom 23, Bathroom 1, Bedroom 10, Bedroom 30, Bedroom 13, Bathroom 3, Bedroom 28, Bathroom 14, Bedroom 36
High school district
Malvern
Directions
Main Street, Malvern - east on 10th Street to the intersection of Lincoln and 10th. Building sits on the south side of the street.
Standard status
Active
Size
17 SF
Lot size
1.71 Acres
Building Details
Year built
1970
Listing Agency:
Jim Hughes Real Estate
Listed By:
Julie O'hara
(712) 527-3114
Added: Oct 17, 2025
Changed: Sep 13
Last Checked: Sep 13 at 6:06PM
MLS# 11592465
Copyright © 2026 My State MLS. 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.
Built in 1970, this 15-unit apartment property occupies 1.71 acres and has been substantially updated for contemporary residential use. Individual units feature custom trim and crown molding, modernized kitchens and bathrooms with glass tile backsplashes, dedicated HVAC systems, separate breaker boxes, and on-demand water heaters. The interior finishes combine decorative detailing with practical, independently managed building systems.
Major property improvements completed in 2024 include electrical, plumbing, roofing, and exterior work, along with landscaping enhancements. The property is located at 409 E 9th Street in Malvern, Iowa, within Mills County. The combination of unit-level mechanical equipment, renovated core systems, and refreshed grounds provides a clearly defined physical profile for multifamily ownership.
Major property improvements completed in 2024 include electrical, plumbing, roofing, and exterior work, along with landscaping enhancements. The property is located at 409 E 9th Street in Malvern, Iowa, within Mills County. The combination of unit-level mechanical equipment, renovated core systems, and refreshed grounds provides a clearly defined physical profile for multifamily ownership.
Key Highlights
- 15‑unit apartment property on 1.71 acres
- New electrical, plumbing, roof, and outdoor improvements in 2024
- Each unit has its own HVAC system, breaker box, and on‑demand water heater
Property Analytics
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Current Use
Lease Details
15
Residential units
Location Intelligence
Trade Area within ½ mile
136
Businesses Nearby
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Business Placement
Demographics for 51551, IA
1,783
Population
757
Households
2.4
Avg Household Size
41
Median Age
29%
College-Educated
94%
High-School Grad
81.9 sq mi
ZIP Area
22
Density / Sq Mi
$82,218
Median Household Income
$45,625
Median Earnings
$867
Median Rent
$184,300
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Apartment building - Updated building systems and landscaped exterior improvements complement renovated unit interiors.
Where is this apartment building located?
The property is located at 409 E 9th Street Malvern, IA.
What is the asking price?
The asking price for this property is $2,900,000.
What are key features of this property?
This property features: 15‑unit apartment property on 1.71 acres; New electrical, plumbing, roof, and outdoor improvements in 2024; Each unit has its own HVAC system, breaker box, and on‑demand water heater
