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    204 3 St Rake, IA 50465

    Sponsored
    For Sale
    $325,900

    Turnkey multifamily, positive cash flow, great upside.

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    338
    This exceptional investment opportunity presents an eight-unit apartment complex ideally situated in Rake, Iowa. The property comprises two adjacent four-unit buildings, conveniently located on a sizable 1.74-acre lot at 204 3rd Street SW. This turnkey operation boasts immediate positive cash flow, making it an attractive proposition for discerning investors. All eight units have recently undergone significant improvements, featuring fresh paint, new flooring, and updated plumbing throughout. Many units also benefit from newly installed kitchen cabinets and upgraded bathrooms, enhancing their appeal and rental value. The property is currently occupied by a stable tenant base, managed in-house, ensuring consistent income generation. Rake is a desirable small town offering a stable and predictable rental market. The existing rents provide a solid foundation, with further potential for increases without requiring substantial capital improvements. This presents a unique opportunity to acquire a well-maintained, high-performing multifamily property with significant upside potential in a stable market. The 1.74-acre lot offers potential for future expansion or development, adding to the long-term value of this investment. This is a rare chance to acquire a turnkey, cash-flowing apartment complex in a desirable location.

    Property Features for 204 3 St

    General Information

    Property type
    Residential income properties
    Lot Size
    75,794 SF
    Property Profile Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Map

    City
    Rake
    County
    Winnebago
    State
    Iowa
    Longitude
    -93.92306
    Latitude
    43.48254

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    Nearby Similar for Sale

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    FAQs

    What type of property is this?
    Residential income property - Turnkey multifamily, positive cash flow, great upside.
    Where is this residential income property located?
    The property is located at 204 3 St Rake, IA.
    What is the asking price?
    The asking price for this property is $325,900.
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    204 3 St Rake, IA 50465
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    204 3 St Rake, IA 50465
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