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624 Palean St Keokuk, IA 52632

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For Sale
$179,000

Four-unit building, great rental income.

Description

Added:
Feb 3, 2025
Days on Market:
353
This exceptional investment opportunity presents a four-unit multi-family property located at 624 Palean Street in Keokuk, Iowa, situated on a 0.14-acre lot. The property offers a compelling blend of income generation and potential for owner occupancy. The building comprises four units: three two-bedroom, one-bathroom units, and one one-bedroom, one-bathroom unit. All units feature baseboard heating and window air conditioning units. Significant recent renovations have enhanced the property's value and appeal. Improvements include a new roof, new vinyl siding, new windows, and a complete upgrade to the electrical service, with individual meters installed for each unit. Currently, the one-bedroom unit generates a monthly rental income of $500, while the two-bedroom units each command $650 per month. Tenants are responsible for their electricity costs, while the property owner covers trash and water expenses. This property presents a strong cash flow potential with the added benefit of a possible owner-occupied unit. The combination of updated amenities, consistent rental income, and the desirable location in Keokuk makes this an attractive investment for both seasoned and novice real estate investors. The asking price is $179,000.

Property Features for 624 Palean St

General Information

Property type
Other commercial real estate
Lot Size
6,098 SF

Building Details

Year Built
1840

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Listing Contact
Lisa Johnson

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Property Insight Report

Property Profile Location Intelligence

Current Use by Public Records

Commercial real estate

Suggested Use

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

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

Location Insight

  • Map
  • Local Demand
City
Keokuk
County
Lee
State
Iowa
Longitude
-91.39116
Latitude
40.3932

FAQs

What type of property is this?
Commercial real estate - Four-unit building, great rental income.
Where is this commercial real estate located?
The property is located at 624 Palean St Keokuk, IA.
What is the asking price?
The asking price for this property is $179,000.
More about this property
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