Building Details

Buildings 2

Listing Agency: NAI United

Listed By: Lawrence Jensen · License #S72691000 Show Phone

Source: Crexi

Added: Apr 12 Changed: Aug 30 Last Checked: Aug 30 at 10:02PM

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Investment Insights

Based on property information with market context.

This residential income property combines a converted three-unit building with one residence on each floor, a detached apartment, and an attached garage. Each unit includes a washer and dryer. Capital improvements were completed within the last 5 years, adding a recent update history to the property’s operating profile.

Tenants pay water, gas, and electric through separate meters, while the landlord covers heat for the tunnel, trash service, water softener operation, sprinkler service, snow removal, and yard maintenance. Security deposits and pet deposits apply. The property is in Le Mars with access to Hwy 3, near major local employers, and roughly 10 blocks from a community school.

Key Highlights

• Converted three‑unit building with one residence on each floor
• Detached apartment and attached garage included
• Washer and dryer provided in each unit

Property Analytics

Property Profile

Current Use

Triplexes

Suggested Use

Top Pick Plumbing Service (Bike/Boat/Book/etc) Store HVAC Service Daycare Center Barber Shop Carpet & Flooring 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

4

Residential units

Yes

Highway access

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

507

Businesses Nearby

Explore this area Business Placement

Demographics for 51031, IA

12,960

Population

5,443

Households

2.4

Avg Household Size

39

Median Age

25%

College-Educated

94%

High-School Grad

234.1 sq mi

ZIP Area

55

Density / Sq Mi

$74,978

Median Household Income

$47,035

Median Earnings

$903

Median Rent

$208,900

Median Home Value

Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

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Frequently Asked Questions

What type of property is this?

Triplex - Multi-level income property with separate-metered utilities, in-unit laundry, an attached garage, and recent capital improvements.

Where is this triplex located?

The property is located at 401 Central Avenue SW Le Mars, IA.

What are key features of this property?

This property features: Converted three‑unit building with one residence on each floor; Detached apartment and attached garage included; Washer and dryer provided in each unit