13-Unit Townhome
New
For Sale
$1,025,000
1302-1350 S Grand Plaza Drive, Spencer, IA 51301
Private entrances and resident-paid utilities reduce shared building operations.
Property Size11,088 SF
Price / SF$92.44
Days on Market3
Property Features for 1302-1350 S Grand Plaza Drive
General Information
Standard status
Active
Size
11,088 SF
Net Rentable
11,088 SF
Total Parking Spaces
13
Property subtype
Multifamily
Occupancy
100%
Financials
Asking Price
$1,025,000
Average Monthly Rent
$758
Units
Unit Mix
2 x 1BR/1BA, 11 x 2BR/1.5BA
Multifamily Units
13
Additional Details
Highway Access
Yes
Tenant in Place
Yes
Building Details
Year Built
1973
Buildings
1
Listed By:
Ray Hamilton
(515) 415-6111
Source:
Cbre
Added: Oct 24
Changed: Oct 25
Last Checked: Oct 24 at 3:03PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Ray Hamilton
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Investment Insights
Based on property information with market context.
This one-building townhome property contains 13 residences, with two one-bedroom, one-bathroom units and 11 two-bedroom, one-and-a-half-bathroom units. Built in 1973 and renovated in the early 2000s, the community received a new roof in 2025. Each home has a direct exterior entrance, and the property includes 13 individual garage spaces. Residents pay all utilities, and occupancy is 100%. The units average 853 SF, with 11,088 SF of total rentable area.
The property is in Spencer, Iowa, along Highways 71 and 18. Spencer serves as a shopping, dining, and employment center for the surrounding area, which includes the Iowa Great Lakes and the Iowa Lakes Corridor.
The property is in Spencer, Iowa, along Highways 71 and 18. Spencer serves as a shopping, dining, and employment center for the surrounding area, which includes the Iowa Great Lakes and the Iowa Lakes Corridor.
Key Highlights
- 13 townhome units: two 1‑bedroom/1‑bathroom and 11 2‑bedroom/1.5‑bathroom
- 11,088 SF total rentable area; average unit size is 853 SF
- Built in 1973; renovated in the early 2000's
Property Analytics
Lease Details
13
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
299
Businesses Nearby
Explore this area
Business Placement
Demographics for 51301, IA
12,606
Population
6,096
Households
2.1
Avg Household Size
43
Median Age
28%
College-Educated
95%
High-School Grad
157.7 sq mi
ZIP Area
80
Density / Sq Mi
$61,175
Median Household Income
$38,961
Median Earnings
$796
Median Rent
$180,400
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Apartment building - Private entrances and resident-paid utilities reduce shared building operations.
Where is this apartment building located?
The property is located at 1302-1350 S Grand Plaza Drive Spencer, IA.
What is the asking price?
The asking price for this property is $1,025,000.
What are key features of this property?
This property features: 13 townhome units: two 1‑bedroom/1‑bathroom and 11 2‑bedroom/1.5‑bathroom; 11,088 SF total rentable area; average unit size is 853 SF; Built in 1973; renovated in the early 2000's
