Spirit Lake Eight-Unit Apartment
For Sale
Under Contract
$900,000
1501 Hill Ave, Spirit Lake, IA 51360
COMMERCIAL, Spirit Lake, IA
Property SizeContact for details
Days on Market187
Property Features for 1501 Hill Ave
General Information
Property type
Commercial Sale
Property subtype
Other
Parking features
Garage - Detached
Interior features
Pvt Resident Bldg
Subdivision
Dickinson
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
Legal Description
Rices's Addition Lots 6 & 7, Block 33
Utilities
Sewer type
Public Sewer
Heating system
Baseboard
Water source
Public
Amenities
on-site laundry
storage space
Building Details
Year built
1969
Roof type
Asphalt
Listing Agency:
Hinn Real Estate
(712) 336-1240
Listed By:
Gretchen Lolis · License #S70594
(201) 838-4965
Added: Feb 23
Changed: Aug 19
Last Checked: Aug 29 at 7:06AM
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
Current Use
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
470
Businesses Nearby
Explore this area
Business Placement
Demographics for 51360, IA
8,553
Population
6,638
Households
1.3
Avg Household Size
49
Median Age
35%
College-Educated
97%
High-School Grad
105.2 sq mi
ZIP Area
81
Density / Sq Mi
$77,464
Median Household Income
$41,043
Median Earnings
$1,005
Median Rent
$256,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
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.
