Reimagined 15-Unit Multifamily
For Sale
$3,000,000
409 E 9th Street, Malvern, IA 51551
MULTI_FAMILY - Malvern, IA
Property Size17 SF
Lot Size1.71 Acres
Price / SF$176,470
Days on Market287
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 39, Bathroom 24, Bedroom 22, Bedroom 5, Bathroom 19, Bedroom 36, Bedroom 31, Bedroom 23, Bedroom 40, Bedroom 1, Bathroom 21, Bathroom 16, Bedroom 26, Bathroom 15, Bedroom 10, Bathroom 14, Bedroom 38, Bedroom 9, Bedroom 24, Bedroom 14, Bedroom 33, Bedroom 16, Bathroom 18, Bedroom 37, Bathroom 2, Bathroom 5, Bathroom 12, Bathroom 11, Bathroom 13, Bedroom 25, Bathroom 4, Bedroom 7, Bedroom 6, Bedroom 2, Bedroom 4, Bathroom 1, Bedroom 3, Bedroom 17, Bedroom 34, Bedroom 35, Bedroom 30, Bedroom 20, Bathroom 20, Bedroom 21, Bedroom 15, Bedroom 28, Bedroom 32, Bedroom 27, Bedroom 13, Bathroom 3, Bathroom 7, Bathroom 22, Bedroom 8, Bathroom 10, Bathroom 17, Bedroom 18, Bathroom 23, Bedroom 11, Bedroom 19, Bedroom 41, Bathroom 8, Bedroom 29, Bathroom 9, Bathroom 6, Bedroom 12
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
(712) 527-3114
Listed By:
Julie O'hara
(712) 527-3114
Added: Oct 17, 2025
Changed: Jul 30
Last Checked: Jul 30 at 4:06PM
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.
This reimagined 15-unit multifamily building is designed for efficient ownership with upgraded, modern interiors. Units feature custom trim and crown molding, along with contemporary kitchens and baths with glass tile backsplashes. The property also includes practical in-unit systems, with each unit having its own HVAC system, breaker box, and on-demand water heater.
Recent improvements include new (2024) electrical, plumbing, roof, and outdoor improvements/landscaping, supporting a more manageable maintenance profile. The building is offered for sale in Malvern, Iowa, within Mills County.
With a complete combination of interior updates and new exterior and mechanical work, the property presents as a turn-key multifamily option for qualified investors and operators.
Recent improvements include new (2024) electrical, plumbing, roof, and outdoor improvements/landscaping, supporting a more manageable maintenance profile. The building is offered for sale in Malvern, Iowa, within Mills County.
With a complete combination of interior updates and new exterior and mechanical work, the property presents as a turn-key multifamily option for qualified investors and operators.
Key Highlights
- 15‑unit multifamily property, originally built in 1970
- Each unit has its own HVAC system, breaker box, and on‑demand water heater
- New 2024 electrical improvements
Property Analytics
Property Profile
Current Use
Lease Details
15
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
133
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Turn-key 15-unit multifamily property with individual HVAC, on-demand water heaters, and recent electrical, plumbing, roof, and outdoor improvements.
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 $3,000,000.
What are key features of this property?
This property features: 15‑unit multifamily property, originally built in 1970; Each unit has its own HVAC system, breaker box, and on‑demand water heater; New 2024 electrical improvements
