13-Unit Townhome
1302 GrandPlaza Drive, Spencer, IA 51301
For Sale
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Residents cover all utility costs, while each home has a private entrance.
Property SizeContact for details
Days on Market29
Property Features for 1302 GrandPlaza Drive
General Information
Standard status
Property subtype
Units
Unit Mix
Multifamily Units
Additional Details
Highway Access
Building Details
Year Built
Listing Agency:
CBRE - Des Moines
Listed By:
Ray Hamilton · License IA S66838000
Source:
Crexi
Added: Oct 12
Changed: Nov 8
Last Checked: Nov 8 at 5:32PM
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 CBRE - Des Moines
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Investment Insights
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This 13-home townhome property in Spencer was built in 1973 and has since been fully renovated. The unit mix comprises two one-bedroom, one-bathroom homes and 11 two-bedroom homes with one and one-half bathrooms. Each residence has direct outdoor entry rather than access through a shared interior hallway, and individual garage spaces are provided. A new roof was completed in 2025.
Spencer is a regional shopping, dining, and employment center in Northwest Iowa. The property is positioned along Highways 71 and 18, within the Iowa Lakes Corridor, an area anchored by the Iowa Great Lakes. Residents pay all utilities.
Spencer is a regional shopping, dining, and employment center in Northwest Iowa. The property is positioned along Highways 71 and 18, within the Iowa Lakes Corridor, an area anchored by the Iowa Great Lakes. Residents pay all utilities.
Key Highlights
- 13 townhomes: 2 one‑bedroom/one‑bathroom and 11 two‑bedroom/one‑and‑one‑half‑bathroom units
- Built in 1973 and fully renovated
- New roof completed in 2025
Property Analytics
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Lease Details
13
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
299
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Apartment building - Residents cover all utility costs, while each home has a private entrance.
Where is this apartment building located?
The property is located at 1302 GrandPlaza 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 townhomes: 2 one‑bedroom/one‑bathroom and 11 two‑bedroom/one‑and‑one‑half‑bathroom units; Built in 1973 and fully renovated; New roof completed in 2025
