Three-Unit Multifamily
For Sale
$133,500
1604 5th Avenue, Grinnell, IA 50112
Residential Income, Grinnell, IA
Property Size2,435 SF
Lot Size0.35 Acres
Price / SF$54.83
Days on Market142
Property Features for 1604 5th Avenue
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Basement
Full
Directions
Use Google Maps https://maps.app.goo.gl/4wS5JqwS8VfGaBhq7
Standard status
Active
APN
0473500
Size
2,435 SF
Lot size
0.35 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
LOT B OF LOT 6 NE 16-80-16
Tax Annual Amount
1950
Legal Description
LOT B OF LOT 6 NE 16-80-16
Utilities
Heating system
Forced Air
Water source
Public
Building Details
Year built
1900
Floors in Building
2
Number of units
3
Building materials
Frame, Vinyl Siding
Roof type
Shingle
Listing Agency:
AE Realty, Inc
(641) 623-2639
Listed By:
Andy Erselius · License #B458265
(641) 226-2639
Added: Apr 13
Changed: Aug 27
Last Checked: Sep 1 at 8:06AM
MLS# 6337170
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 2435-square-foot triplex contains three separate apartments, with one unit on each level. The layout includes a 2-bedroom, 1-bath main-floor unit, a 3-bedroom, 1-bath upper unit, and a 1-bedroom, 1-bath lower-level unit. The property was built in 1900 with frame construction, vinyl siding, a shingle roof, forced-air heat, and public water. It is currently vacant, allowing the next owner to select occupants.
The 0.35-acre parcel is located seven blocks from downtown Grinnell and Grinnell College. Off-street parking is available, and the lot includes space identified for a future garage. The combination of three independent units, a sizable lot, and proximity to established Grinnell destinations supports a range of residential income property strategies.
The 0.35-acre parcel is located seven blocks from downtown Grinnell and Grinnell College. Off-street parking is available, and the lot includes space identified for a future garage. The combination of three independent units, a sizable lot, and proximity to established Grinnell destinations supports a range of residential income property strategies.
Key Highlights
- Three independent apartments, with one unit on each floor
- 2435 square feet on a 0.35‑acre lot
- Unit mix includes 2 bed/1 bath, 3 bed/1 bath, and 1 bed/1 bath apartments
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
236
Businesses Nearby
Explore this area
Business Placement
Demographics for 50112, IA
11,849
Population
5,018
Households
2.4
Avg Household Size
38
Median Age
38%
College-Educated
96%
High-School Grad
182.2 sq mi
ZIP Area
65
Density / Sq Mi
$64,707
Median Household Income
$34,301
Median Earnings
$863
Median Rent
$198,100
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?
Triplex - Vacant income property with one apartment on each floor and off-street parking.
Where is this triplex located?
The property is located at 1604 5th Avenue Grinnell, IA.
What is the asking price?
The asking price for this property is $133,500.
What are key features of this property?
This property features: Three independent apartments, with one unit on each floor; 2435 square feet on a 0.35‑acre lot; Unit mix includes 2 bed/1 bath, 3 bed/1 bath, and 1 bed/1 bath apartments
