15-Unit Apartment
For Sale
$2,900,000
409 E 9th Street, Malvern, IA 51551
Residential Income, Malvern, IA
Property Size17 SF
Lot Size1.71 Acres
Price / SF$170,588
Days on Market347
Property Features for 409 E 9th Street
General Information
Property type
Residential Multi Family
Property subtype
Apartment
Bedrooms
41
Bathrooms
24
Full bathrooms
24
Rooms
Bedroom 19, Bedroom 13, Bedroom 20, Bedroom 24, Bedroom 30, Bedroom 33, Bedroom 2, Bedroom 28, Bedroom 40, Bedroom 4, Bedroom 6, Bedroom 38, Bedroom 39, Bedroom 41, Bathroom 16, Bathroom 24, Bedroom 14, Bedroom 35, Bathroom 14, Bathroom 13, Bathroom 19, Bathroom 8, Bedroom 11, Bedroom 25, Bathroom 2, Bedroom 9, Bathroom 17, Bathroom 4, Bathroom 3, Bedroom 32, Bedroom 17, Bathroom 20, Bathroom 23, Bedroom 1, Bedroom 8, Bedroom 29, Bathroom 15, Bedroom 23, Bedroom 18, Bathroom 10, Bedroom 37, Bedroom 3, Bathroom 21, Bedroom 16, Bedroom 22, Bedroom 36, Bathroom 18, Bedroom 34, Bedroom 21, Bathroom 1, Bathroom 7, Bedroom 10, Bedroom 5, Bedroom 12, Bedroom 26, Bedroom 31, Bedroom 27, Bathroom 11, Bedroom 7, Bathroom 5, Bathroom 6, Bedroom 15, Bathroom 12, Bathroom 9, Bathroom 22
High school district
Malvern
Directions
Main Street, Malvern - east on 10th Street to the intersection of Lincoln and 10th. Building sits on the south side of the street.
Standard status
Active
Size
17 SF
Lot size
1.71 Acres
Building Details
Year built
1970
Listing Agency:
Jim Hughes Real Estate
Listed By:
Julie O'hara
(712) 527-3114
Added: Oct 17, 2025
Changed: Sep 27
Last Checked: Sep 28 at 12:06AM
MLS# 11592465
Copyright © 2026 My State MLS. 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.
Built in 1970, this 15-unit apartment property occupies 1.71 acres and has been substantially updated for contemporary residential use. Individual units feature custom trim and crown molding, modernized kitchens and bathrooms with glass tile backsplashes, dedicated HVAC systems, separate breaker boxes, and on-demand water heaters. The interior finishes combine decorative detailing with practical, independently managed building systems.
Major property improvements completed in 2024 include electrical, plumbing, roofing, and exterior work, along with landscaping enhancements. The property is located at 409 E 9th Street in Malvern, Iowa, within Mills County. The combination of unit-level mechanical equipment, renovated core systems, and refreshed grounds provides a clearly defined physical profile for multifamily ownership.
Major property improvements completed in 2024 include electrical, plumbing, roofing, and exterior work, along with landscaping enhancements. The property is located at 409 E 9th Street in Malvern, Iowa, within Mills County. The combination of unit-level mechanical equipment, renovated core systems, and refreshed grounds provides a clearly defined physical profile for multifamily ownership.
Key Highlights
- 15‑unit apartment property on 1.71 acres
- New electrical, plumbing, roof, and outdoor improvements in 2024
- Each unit has its own HVAC system, breaker box, and on‑demand water heater
Property Analytics
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Current Use
Lease Details
15
Residential units
Location Intelligence
Trade Area within ½ mile
136
Businesses Nearby
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Business Placement
Demographics for 51551, IA
1,783
Population
757
Households
2.4
Avg Household Size
41
Median Age
29%
College-Educated
94%
High-School Grad
81.9 sq mi
ZIP Area
22
Density / Sq Mi
$82,218
Median Household Income
$45,625
Median Earnings
$867
Median Rent
$184,300
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 - Updated building systems and landscaped exterior improvements complement renovated unit interiors.
Where is this apartment building located?
The property is located at 409 E 9th Street Malvern, IA.
What is the asking price?
The asking price for this property is $2,900,000.
What are key features of this property?
This property features: 15‑unit apartment property on 1.71 acres; New electrical, plumbing, roof, and outdoor improvements in 2024; Each unit has its own HVAC system, breaker box, and on‑demand water heater
