36-Unit Apartment
New
For Sale
$2,200,000
611 E South Street, Marshalltown, IA 50158
Multi-Unit, Marshallltown, IA
Property Size2,784 SF
Lot Size2.48 Acres
Price / SF$790.23
Days on Market2
Property Features for 611 E South Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Res 3+
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 1, Bathroom 2, Bedroom 2, Bathroom 1
Directions
Maps
Subdivision
Other Default
Standard status
Active
APN
8318-01-101-008
Size
2,784 SF
Lot size
2.48 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
W 28 RODS OF NW NW EX PARCELS A & B & EX BROOKSHIRE ESTATES FIRST & SECOND ADD
Tax Annual Amount
27162
Legal Description
W 28 RODS OF NW NW EX PARCELS A & B & EX BROOKSHIRE ESTATES FIRST & SECOND ADD
Utilities
Heating system
Forced Air
Amenities
on-site laundry
Building Details
Year built
1965
Number of units
36
Listing Agency:
Gateway Real Estate Advisors
(712) 226-8000
Listed By:
Nic Madsen · License #S67281000
(712) 540-6562
Added: Sep 11
Last Checked: Sep 12 at 12:06AM
MLS# 834593
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 apartment property includes 36 units arranged across three buildings, with 24 one-bedroom residences and 12 two-bedroom residences. The improvements include 20 garages, on-site laundry located on two floors of each building, newer roofs and boilers, and updated units. Forced-air heating serves the property, which was built in 1965 and occupies 2.48 acres.
The property is located at 611 E South Street in Marshalltown, Iowa, within the Marshall County seat. Res 3+ zoning supports the existing apartment use. The asset is reported at 100% occupancy and carries an in-place 8.06% cap rate. Established area employers identified for the market include JBS pork processing, Emerson Fisher, and Lennox HVAC.
The property is located at 611 E South Street in Marshalltown, Iowa, within the Marshall County seat. Res 3+ zoning supports the existing apartment use. The asset is reported at 100% occupancy and carries an in-place 8.06% cap rate. Established area employers identified for the market include JBS pork processing, Emerson Fisher, and Lennox HVAC.
Key Highlights
- 36 units: 24 one‑bedroom and 12 two‑bedroom apartments
- Three buildings with 20 garages
- 100% occupied
Property Analytics
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Current Use
Lease Details
36
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
230
Businesses Nearby
Explore this area
Business Placement
Demographics for 50158, IA
31,466
Population
12,614
Households
2.5
Avg Household Size
38
Median Age
21%
College-Educated
84%
High-School Grad
212.2 sq mi
ZIP Area
148
Density / Sq Mi
$71,212
Median Household Income
$40,437
Median Earnings
$865
Median Rent
$130,500
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 - Three-building residential property with garages, on-site laundry, and updated interiors.
Where is this apartment building located?
The property is located at 611 E South Street Marshalltown, 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: 36 units: 24 one‑bedroom and 12 two‑bedroom apartments; Three buildings with 20 garages; 100% occupied
