Building Details

Tenancy Multi

Listing Agency: Realty ONE Group Black Diamond m***@rogblackdiamond.com Show Phone

Listed By: Marisa Koppen · License #*** Show Phone

Source: Exprealty

Added: Jun 5 Changed: Aug 25 Last Checked: Aug 28 at 5:15PM

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Investment Insights

Based on property information with market context.

This residential income property is an 8-plex rental building offering six one-bedroom apartments and two two-bedroom apartments. Several units have been refreshed with newer flooring and paint, providing updated interior finishes for tenants.

The property is offered for sale as an investment opportunity and is located at 207 S Lake Street in Lake Mills, IA 50450.

With a mix of one- and two-bedroom layouts, the building provides unit variety within a single ownership structure.

Key Highlights

• 8‑plex rental property built in 1880
• Unit mix includes 6 one‑bedroom apartments and 2 two‑bedroom apartments
• Select units have newer flooring and paint updates

Property Analytics

Property Profile

Current Use

Apartment buildings

Suggested Use

Top Pick Dental Office Real Estate Agency Nail Salon Pharmacy Grocery & Convenience Store (Bike/Boat/Book/etc) Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

8

Residential units

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

222

Businesses Nearby

Explore this area Business Placement

Demographics for 50450, IA

2,827

Population

1,489

Households

1.9

Avg Household Size

45

Median Age

19%

College-Educated

96%

High-School Grad

84.5 sq mi

ZIP Area

33

Density / Sq Mi

$76,522

Median Household Income

$42,475

Median Earnings

$640

Median Rent

$157,500

Median Home Value

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

Questions? Ask Rey

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Frequently Asked Questions

What type of property is this?

Apartment building - 8-plex rental property with six one-bedroom and two two-bedroom apartments, with select units updated with newer flooring and paint.

Where is this apartment building located?

The property is located at 207 S Lake St Lake Mills, IA.

What is the asking price?

The asking price for this property is $150,000.

What are key features of this property?

This property features: 8‑plex rental property built in 1880; Unit mix includes 6 one‑bedroom apartments and 2 two‑bedroom apartments; Select units have newer flooring and paint updates