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    Spirit Lake Eight-Unit Apartment Building

    1501 Hill Ave Spirit Lake, IA 51360

    Claim this Listing
    For Sale
    Under Contract
    $900,000

    COMMERCIAL - Spirit Lake, IA

    Added:
    Feb 23, 2026
    Days on Market:
    138
    Last Refresh:
    Jul 11 at 1:06 pm

    Property Features for 1501 Hill Ave

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Parking features
    Garage - Detached
    Interior features
    Pvt Resident Bldg
    Standard status
    Active Under Contract
    APN
    0704251001

    Taxes and HOA fees

    Tax Year
    2024
    Tax Description
    Rices's Addition Lots 6 & 7, Block 33
    Tax Annual Amount
    4538

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Baseboard
    Water source
    Public

    Building Details

    Year built
    1969
    Roof type
    Asphalt

    Listing agent Gretchen Lolis License #S70594

    Listing office Hinn Real Estate 2916 Hwy 71 S PO Box 449, Spirit Lake, IA

    Listing date Feb 23, 2026

    MLS# 260047

    Copyright © 2026 Iowa Great Lakes Board of Realtors. 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 well-maintained eight-unit apartment building is located on Hill Avenue in downtown Spirit Lake, Iowa. Each of the eight apartments features two bedrooms and one bathroom. A highly desirable amenity for renters is the included garage parking. The property also offers a clean, spacious basement, on-site washers and dryers, and ample tenant storage space. The location is steps from downtown retail shops, restaurants, and entertainment. Hill Avenue is experiencing exciting revitalization, making this an ideal opportunity to own a strong income-producing property in the heart of it all. The property's location, functionality, and steady rental appeal make this a smart addition to any investment portfolio.

    Key Highlights

    • Strong income‑producing eight‑unit apartment building.
    • Prime location in revitalizing Downtown Spirit Lake, close to retail, restaurants, and entertainment.
    • Each apartment includes a highly desirable garage parking space.

    Property Analytics

    Property Profile Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Grocery & Convenience Store Hair Salon Skin Care Clinic Storage Facility Daycare Center Barber Shop Pharmacy Computer & Electronic Repair Carpet & Flooring Store (Bike/Boat/Book/etc) Store

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

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    FAQs

    What type of property is this?
    Apartment building - Eight-unit apartment building in downtown Spirit Lake, Iowa.
    Where is this apartment building located?
    The property is located at 1501 Hill Ave Spirit Lake, IA.
    What is the asking price?
    The asking price for this property is $900,000.
    What are key features of this property?
    This property features: Strong income‑producing eight‑unit apartment building.; Prime location in revitalizing Downtown Spirit Lake, close to retail, restaurants, and entertainment.; Each apartment includes a highly desirable garage parking space.
    Contact an agent
    (201) 838-4965
    We can help!
    Contact an agent
    Gretchen Lolis
    Gretchen Lolis
    Real Estate License ID: S70594
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