Fully Rented Triplex
For Sale
$85,000
314 Lester Street, Waterloo, IA 50703
Residential Income, Waterloo, IA
Property SizeContact for details
Lot Size0.18 Acres
Days on Market53
Property Features for 314 Lester Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning
R-2
Basement
Block
Elementary school
Cunningham
Middle school
George Washington Carver Academy
High school
East High
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
Legal Description
MANSONS THIRD ADDITION E 3 FT LOT 3 BLK 2 LOT 4 BLK 2
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
Listing Agency:
Oakridge Real Estate
(319) 277-5005
Listed By:
Dave Woods
(319) 242-2720
Added: Jul 1
Changed: Aug 19
Last Checked: Aug 22 at 4:06AM
MLS# 20262962
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.
Investment Insights
Based on property information with market context.
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.
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.
Key Highlights
- Fully rented triplex with 3 one‑bed, one‑bath units
- Monthly rents: Unit 1 $475, Unit 2 $525, Unit 3 $375 (each includes stove and refrigerator)
- Each unit has its own electric meter
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
122
Businesses Nearby
Explore this area
Business Placement
Demographics for 50703, IA
18,913
Population
8,705
Households
2.2
Avg Household Size
38
Median Age
13%
College-Educated
87%
High-School Grad
93.2 sq mi
ZIP Area
203
Density / Sq Mi
$49,412
Median Household Income
$33,105
Median Earnings
$926
Median Rent
$92,500
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 - 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 with 3 one‑bed, one‑bath units; Monthly rents: Unit 1 $475, Unit 2 $525, Unit 3 $375 (each includes stove and refrigerator); Each unit has its own electric meter
