Victorian Triplex with
New
For Sale
$285,000
1024 18th Street, Marion, IA 52302
COMMERCIAL - Marion, IA
Property Size2,649 SF
Lot Size0.26 Acres
Price / SF$107.59
Days on Market1
Property Features for 1024 18th Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
R
Directions
Drive East on Blairs Ferry Road, turn Left onto Lindale Dr., and Right onto W 8th to 18th St. Property is on the Left, Corner of 10th Ave. & 18th Street
Subdivision
Marion
Standard status
Active
APN
10313-86009-00000
Size
2,649 SF
Lot size
0.26 Acres
Taxes and HOA fees
Tax Description
English's 1st S42' lot 5& All
Tax Annual Amount
3389
Legal Description
English's 1st S42' lot 5& All
Amenities
hardwood floors
natural woodwork
elegant staircase
landscaping
private courtyard
Building Details
Year built
1890
Flooring type
Wood
Building materials
Frame
Roof type
Shingle
Listing Agency:
Realty87 · Coldwell Banker Real Estate
(319) 378-8760
Listed By:
Jill Hidinger
(319) 367-8760
Added: Jul 31
Last Checked: Jul 31 at 7:06PM
MLS# 2605450
Copyright © 2026 Cedar Rapids Area Association 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.
Victorian-style triplex at 1024 18th Street with wood-frame construction, wood flooring, and a shingle roof. The home offers three separate living units: a two-bedroom unit on the main level, a one-bedroom apartment on the second floor, and an efficiency on the second floor. Interior character includes hardwood floors throughout, natural woodwork, and an elegant staircase.
Set on a 0.26-acre lot, the property includes a two-stall garage accessed off a shared driveway, plus an extra parking pad associated with the main-floor apartment. A private courtyard provides outdoor space for tenants. Built in 1890, the home is designed to serve as either a multi-unit investment or a whole-house option.
Additional exterior details include landscaped grounds and a layout that supports both separate-unit living and use as a single multi-generational residence.
Set on a 0.26-acre lot, the property includes a two-stall garage accessed off a shared driveway, plus an extra parking pad associated with the main-floor apartment. A private courtyard provides outdoor space for tenants. Built in 1890, the home is designed to serve as either a multi-unit investment or a whole-house option.
Additional exterior details include landscaped grounds and a layout that supports both separate-unit living and use as a single multi-generational residence.
Key Highlights
- 0.26‑acre lot with 2‑stall garage off a shared driveway plus extra parking pad
- Three‑unit layout: 2‑bedroom main unit, 1‑bedroom second‑floor apartment, and second‑floor efficiency
- Wood‑frame construction with hardwood floors, natural woodwork, and elegant staircase
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $32.4k | $12.24 |
| − Vacancy | −$2.3k | −$0.87 |
| EGI | $30.1k | $11.37 |
| − OpEx | −$9.0k | −$3.41 |
| NOI | $21.1k | $7.96 |
2,649 SF · lease $12.24/SF/yr · vacancy 7.12% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$301.2K
$263.5K – $351.4K
NOI $21,081 @ 7.0% cap · market cap 7.40%
Second Best
Apartment 5plus
$261.1K
$228.4K – $304.6K
NOI $18,275 @ 7.0% cap · market cap 6.41%
Theoretical Best
Self Storage
$445.8K
$390.1K – $520.1K
NOI $31,208 @ 7.0% cap · market cap 10.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
684
Businesses Nearby
Explore this area
Business Placement
Demographics for 52302, IA
43,130
Population
18,153
Households
2.4
Avg Household Size
39
Median Age
39%
College-Educated
97%
High-School Grad
74.3 sq mi
ZIP Area
580
Density / Sq Mi
$87,463
Median Household Income
$50,234
Median Earnings
$963
Median Rent
$232,900
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?
Triplex - Victorian triplex on a private courtyard with wood-frame construction, hardwood floors, and a zoning designation of R.
Where is this triplex located?
The property is located at 1024 18th Street Marion, IA.
What is the asking price?
The asking price for this property is $285,000.
What are key features of this property?
This property features: 0.26‑acre lot with 2‑stall garage off a shared driveway plus extra parking pad; Three‑unit layout: 2‑bedroom main unit, 1‑bedroom second‑floor apartment, and second‑floor efficiency; Wood‑frame construction with hardwood floors, natural woodwork, and elegant staircase
