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    Fully Rented Triplex Investment Title is generated by Realmo AI

    314 Lester Street, Waterloo, IA 50703

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    Claim this Listing
    New
    For Sale
    $85,000

    MULTI_FAMILY - Waterloo, IA

    Lot size:
    0.18 Acres
    Added:
    Jul 1, 2026
    Days on Market:
    3
    Last Refresh:
    Jul 3 at 5:06 am

    Property Features for 314 Lester Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    R-2
    Basement
    Block
    Standard status
    Active
    APN
    891313328004
    Lot size
    0.18 Acres

    Taxes and HOA fees

    Tax Description
    MANSONS THIRD ADDITION E 3 FT LOT 3 BLK 2 LOT 4 BLK 2
    Tax Annual Amount
    1044

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Natural Gas, Forced Air
    Cooling system
    Window Unit(s)
    Water source
    Public

    Building Details

    Year built
    1916
    Floors in Building
    2
    Number of units
    3
    Building materials
    Vinyl Siding
    Roof type
    Asphalt

    We can help!

    Contact an agent
    Dave Woods

    Listing agent Dave Woods

    Listing office Oakridge Real Estate 3313 Terrace Drive, Cedar Falls, IA

    Listing date Jul 1, 2026

    MLS# 20262962 Listing URL

    Copyright © 2026 Northeast Iowa Regional 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.

    HighLights

    • Fully rented triplex (3 units) directly across from Gates Park
    • Each unit is 1 bed / 1 bath and includes a stove and refrigerator
    • Monthly rent: Unit 1 $475, Unit 2 $525, Unit 3 $375
    • Each unit has its own electric meter
    • Owner currently pays water, snow removal, and lawn care
    • Updates include newer flooring, paint, cabinets, countertop, and shower

    Overview

    This property is a fully rented triplex in a residential R-2 zoning district. It consists of three one-bedroom, one-bath units, each equipped with a stove and refrigerator. Each unit has its own electric meter. The owner is currently responsible for water, snow removal, and lawn care. The seller reports multiple interior updates, including newer flooring, paint, cabinets, countertops, and shower improvements.

    The triplex is located at 314 Lester Street in Waterloo, Iowa, on a 0.18-acre lot. The property is described as directly across from Gates Park.

    For investors seeking an owner-managed residential income asset, this configuration offers three individual units with separate electric metering and in-unit appliances. The documented maintenance and updates may help reduce immediate interior refresh needs, while the existing structure of owner-paid services supports steady operational responsibility for the exterior items noted in the listing.
    Property Profile Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

    Real Estate Agency Law Firm Spa & Massage Center Accounting Firm Dental Office Big Box & Wholesale Store Nail Salon Restaurant HVAC Service Grocery & Convenience Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Waterloo
    County
    Black Hawk
    State
    Iowa
    Longitude
    -92.330408
    Latitude
    42.518039

    FAQs

    What type of property is this?
    Triplex - Three separately metered units with recent interior updates and ongoing owner-paid exterior services.
    Where is this triplex located?
    The property is located at 314 Lester Street Waterloo, IA.
    What is the asking price?
    The asking price for this property is $85,000.
    What are key features of this property?
    This property features: Fully rented triplex (3 units) directly across from Gates Park; Each unit is 1 bed / 1 bath and includes a stove and refrigerator; Monthly rent: Unit 1 $475, Unit 2 $525, Unit 3 $375
    More about this property
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