42-Unit Apartment Building with Private
New
For Sale
$3,250,000
401 & 417 Washington Avenue, Grinnell, IA 50112
Residents have outdoor access, laundry hookups, and a private patio or balcony in each apartment.
Property Size45,200 SF
Lot Size3.26 Acres
Price / SF$71.90
Days on Market3
Property Features for 401 & 417 Washington Avenue
General Information
Standard status
Active
Size
45,200 SF
Lot size
3.26 Acres
Property subtype
Multifamily
Occupancy
100%
Financials
Asking Price
$3,250,000
Cap Rate
7.65%
Average Monthly Rent
$870
Site & Location
Highway Access
Yes
Road Access
Yes
Units
Unit Mix
28 x 2BR/1BA, 14 x 3BR/2BA
Multifamily Units
42
Amenities
private patio or balcony
in-unit washer and dryer connections
Building Details
Year Built
2001
Buildings
2
Listed By:
Cy Fox
(515) 415-6109
Source:
Cbre
Added: Oct 12
Changed: Oct 13
Last Checked: Oct 13 at 2:34AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Cy Fox
Investment Insights
Based on property information with market context.
The Arbors is a 42-unit apartment community completed in 2001 across two buildings on 3.26 acres. The 45,200-square-foot property includes 28 two-bedroom, one-bath apartments and 14 three-bedroom, two-bath apartments, averaging 1,076 square feet. Each residence has direct outdoor entry, washer and dryer connections, and a patio or balcony. Parking includes surface spaces and 15 detached garages. The community is reported as fully occupied.
At 401 and 417 Washington Avenue in Grinnell, the property is near Interstate 80 and U.S. Highway 6. Grinnell College and employers including Grinnell Mutual Reinsurance Company, UnityPoint Health, JELD-WEN, and Manatt’s Inc. contribute to the local employment and education base. Des Moines is 55 miles away, Iowa City 60 miles, Marshalltown 30 miles, and Newton 20 miles.
At 401 and 417 Washington Avenue in Grinnell, the property is near Interstate 80 and U.S. Highway 6. Grinnell College and employers including Grinnell Mutual Reinsurance Company, UnityPoint Health, JELD-WEN, and Manatt’s Inc. contribute to the local employment and education base. Des Moines is 55 miles away, Iowa City 60 miles, Marshalltown 30 miles, and Newton 20 miles.
Key Highlights
- 42 apartments in two buildings on 3.26 acres
- 28 two‑bedroom/one‑bath units and 14 three‑bedroom/two‑bath units; average apartment size is 1,076 square feet
- Built in 2001; 45,200 square feet total
Property Analytics
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Current Use
Lease Details
42
Residential units
100%
Occupancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
637
Businesses Nearby
Explore this area
Business Placement
Demographics for 50112, IA
11,849
Population
5,018
Households
2.4
Avg Household Size
38
Median Age
38%
College-Educated
96%
High-School Grad
182.2 sq mi
ZIP Area
65
Density / Sq Mi
$64,707
Median Household Income
$34,301
Median Earnings
$863
Median Rent
$198,100
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Apartment building - Residents have outdoor access, laundry hookups, and a private patio or balcony in each apartment.
Where is this apartment building located?
The property is located at 401 & 417 Washington Avenue Grinnell, IA.
What is the asking price?
The asking price for this property is $3,250,000.
What are key features of this property?
This property features: 42 apartments in two buildings on 3.26 acres; 28 two‑bedroom/one‑bath units and 14 three‑bedroom/two‑bath units; average apartment size is 1,076 square feet; Built in 2001; 45,200 square feet total
