Brick Multifamily Building with
For Sale
Contact for pricing
205 4th Street SW, Altoona, IA 50009
The brick property includes separately metered tenant electric and an income-producing laundry.
Property Size4,352 SF
Price / SF$126.38
Days on Market57
Property Features for 205 4th Street SW
General Information
Standard status
Active
Size
4,352 SF
Class
C
Property subtype
Multifamily
Zoning
R-3 Multi-Family
Occupancy
100%
Investment Type
Stabilized
Net Operating Income
$38,540
Amenities
laundry
Building Details
Year Built
1965
Buildings
1
Stories
2
Units
7
Tenancy
Multi
Construction
brick
Listing Agency:
Stanbrough Realty
Listed By:
Joseph Bergman
Source:
Crexi
Added: Aug 21
Changed: Oct 9
Last Checked: Oct 15 at 12:13AM
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 Stanbrough Realty
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Investment Insights
Based on property information with market context.
Built in 1965, this brick multifamily property is located at 205 4th Street SW in Altoona, Iowa. The building carries R-3 Multi-Family zoning and includes separately metered tenant electric along with an income-producing laundry operation.
The roof receives annual preventive maintenance. The property has been held by only its second owner, providing a documented ownership history for this residential income asset.
The roof receives annual preventive maintenance. The property has been held by only its second owner, providing a documented ownership history for this residential income asset.
Key Highlights
- 4,352 property size
- 1965 brick multifamily building
- R‑3 Multi‑Family zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$33,750
Cap Rate
6.14%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$675,000
$675.0K
Cap Rate 7%
$482,143
$482.1K
Cap Rate 9%
$375,000
$375.0K
Market Conditions
NOI Build-Up for 4,352 SF
Gross rent
$65.3K $15.00/SF
− Vacancy
−$3.9K −$0.90/SF
EGI
$61.4K $14.10/SF
− OpEx
−$27.6K −$6.35/SF
NOI
$33.7K $7.76/SF
Area
Polk County, IA
Vacancy
6.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$675,000
Cap Rate 7%
$482,143
Cap Rate 9%
$375,000
Alternative Uses
Best Use
Apartment 5plus
$482.1K
$421.9K – $562.5K
NOI $33,750 @ 7.0% cap · market cap 6.14%
Second Best
—
—
no second resolved use
Theoretical Best
Flex RnD
$4.19M
$3.67M – $4.89M
NOI $293,255 @ 7.0% cap · market cap 53.32%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
533
Businesses Nearby
Explore this area
Business Placement
Demographics for 50009, IA
21,230
Population
8,829
Households
2.4
Avg Household Size
37
Median Age
33%
College-Educated
96%
High-School Grad
27.9 sq mi
ZIP Area
761
Density / Sq Mi
$90,393
Median Household Income
$52,227
Median Earnings
$1,201
Median Rent
$261,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Multifamily property - The brick property includes separately metered tenant electric and an income-producing laundry.
Where is this multifamily property located?
The property is located at 205 4th Street SW Altoona, IA.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: 4,352 property size; 1965 brick multifamily building; R‑3 Multi‑Family zoning
