Building Details

Year Built 1996

Year Renovated 1996

Buildings 3

Stories 2

Units 22

Listing Agency: RE/MAX Precision

Listed By: Jason Ring · License #S70174000 Show Phone

Source: Crexi

Added: May 31 Changed: Sep 2 Last Checked: Sep 1 at 1:31AM

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Investment Insights

Based on property information with market context.

This well-maintained, single-owner apartment complex is built in 1996 and includes three separate buildings totaling 7,824 square feet on a 0.89-acre lot. The property contains 22 units, and all units are configured as 2-bedroom, 1-bathroom layouts. The complex is described as turn-key, with practical, comfortable floor plans and a solid, well-built construction profile.

The apartment buildings are located in a convenient Colfax, Iowa area, near downtown, with easy access to local amenities, schools, and major transportation routes. The site also includes ample parking and outdoor space to support everyday resident needs.

For investors or operators seeking an established multifamily asset, the key operational point is that the property is currently reported as 100% occupied. With all units matching the same 2-bedroom, 1-bath configuration, the complex offers a straightforward unit mix across the portfolio within a stable, small-town community setting.

Key Highlights

• Apartment complex built in 1996 featuring 3 buildings totaling 7,824 SF on a 0.89‑acre lot
• 22 units with all layouts configured as 2‑bedroom, 1‑bath apartments
• 100% occupancy reported for the 22 units

Property Analytics

Property Profile

Current Use

Apartment buildings

Suggested Use

Top Pick HVAC Service Building Supply (Bike/Boat/Book/etc) Store Garden Center Big Box & Wholesale Store Storage Facility

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

22

Residential units

Turnkey business

Opportunity

Location Intelligence

Trade Area within ½ mile

165

Businesses Nearby

Explore this area Business Placement

Demographics for 50054, IA

3,471

Population

1,250

Households

2.8

Avg Household Size

42

Median Age

24%

College-Educated

95%

High-School Grad

61.0 sq mi

ZIP Area

57

Density / Sq Mi

$91,204

Median Household Income

$46,154

Median Earnings

$842

Median Rent

$197,400

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 - Well-maintained, fully occupied apartment complex with 22 spacious 2-bedroom units and ample parking on nearly an acre.

Where is this apartment building located?

The property is located at 24 N MAPLE ST Colfax, IA.

What is the asking price?

The asking price for this property is $1,800,000.

What are key features of this property?

This property features: Apartment complex built in 1996 featuring 3 buildings totaling 7,824 SF on a 0.89‑acre lot; 22 units with all layouts configured as 2‑bedroom, 1‑bath apartments; 100% occupancy reported for the 22 units