12-Unit Apartment Complex with In-Unit
For Sale
$1,100,000
1201 E South Street, Mount Ayr, IA 50854
COMMERCIAL - Other - Mount Ayr, IA
Property SizeContact for details
Lot Size2.00 Acres
Days on Market44
Property Features for 1201 E South Street
General Information
Property type
Commercial Sale
Property subtype
Other
Parking features
Garage - Detached
Appliances
Range, Microwave, Dishwasher, Refrigerator
Elementary school district
Mount Ayr
Middle school district
Mount Ayr
High school district
Mount Ayr
Directions
Intersection of highway 2 and highway 169 north.
Standard status
Active
APN
0063021
Lot size
2.00 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
7-68-29 A TRACT OF LAND LOCATED IN THE E 45 AC OF THE N 1/2 OF THE NE 1/4
Tax Annual Amount
20664
Legal Description
7-68-29 A TRACT OF LAND LOCATED IN THE E 45 AC OF THE N 1/2 OF THE NE 1/4
Utilities
Heating system
Forced Air
Cooling system
Central Air
Water source
Public
Amenities
in-unit laundry
Building Details
Year built
1993
Number of units
12
Flooring type
Tile, Carpet, Vinyl
Building materials
Brick, Metal Siding
Architectural style
Other
Listing Agency:
South Central Iowa Realty
(641) 464-2080
Listed By:
Jennifer Mercer
(641) 344-3698
Added: Jun 23
Changed: Aug 4
Last Checked: Aug 5 at 7:06PM
MLS# 6105558
Copyright © 2026 NoCoast 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 property includes a 12-unit apartment complex with units featuring two bedrooms, one bathroom, and in-unit laundry. The building is finished with brick and metal siding, with a mix of tile, vinyl, and carpet flooring. Heating is forced air and cooling is central air. Each unit is equipped with a range, microwave, dishwasher, and refrigerator. Parking is provided via detached garages, and the property is served by public water. The apartment component was built in 1993.
In addition to the residential units, the property includes commercial office space that is currently occupied by a medical office. The site spans over 2 acres of prime commercial real estate with highly visible frontage along Highway 2, providing strong drive-by exposure and convenient access for tenants and customers.
The combination of residential income and on-site occupied office space supports a mixed-use approach on a large lot, with room to consider further development or additional commercial improvements over time.
In addition to the residential units, the property includes commercial office space that is currently occupied by a medical office. The site spans over 2 acres of prime commercial real estate with highly visible frontage along Highway 2, providing strong drive-by exposure and convenient access for tenants and customers.
The combination of residential income and on-site occupied office space supports a mixed-use approach on a large lot, with room to consider further development or additional commercial improvements over time.
Key Highlights
- 12‑unit apartment complex
- Over 2 acres of prime commercial real estate
- Highly visible location along Highway 2
Property Analytics
Property Profile
Current Use
Lease Details
12
Residential units
Single-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
262
Businesses Nearby
Explore this area
Business Placement
Demographics for 50854, IA
2,223
Population
1,070
Households
2.1
Avg Household Size
45
Median Age
26%
College-Educated
95%
High-School Grad
138.9 sq mi
ZIP Area
16
Density / Sq Mi
$69,352
Median Household Income
$41,122
Median Earnings
$712
Median Rent
$151,400
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - 12-unit apartment complex with 2 bed, 1 bath units and in-unit laundry; also includes commercial office space.
Where is this apartment building located?
The property is located at 1201 E South Street Mount Ayr, IA.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: 12‑unit apartment complex; Over 2 acres of prime commercial real estate; Highly visible location along Highway 2
