15-Unit Multifamily Apartment
For Sale
$3,000,000
409 E 9th Street, Malvern, IA 51551
MULTI_FAMILY - Malvern, IA
Property Size17 SF
Lot Size1.71 Acres
Price / SF$176,470
Days on Market288
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 24, Bathroom 10, Bathroom 14, Bathroom 22, Bathroom 19, Bedroom 28, Bathroom 6, Bedroom 20, Bedroom 36, Bedroom 25, Bedroom 15, Bathroom 15, Bedroom 4, Bedroom 8, Bathroom 9, Bathroom 8, Bathroom 24, Bedroom 14, Bathroom 1, Bedroom 19, Bathroom 2, Bathroom 20, Bathroom 21, Bedroom 39, Bedroom 1, Bedroom 27, Bathroom 16, Bathroom 13, Bedroom 11, Bedroom 33, Bathroom 7, Bedroom 2, Bedroom 5, Bedroom 22, Bedroom 26, Bedroom 30, Bedroom 41, Bedroom 12, Bedroom 31, Bathroom 17, Bedroom 10, Bedroom 13, Bedroom 3, Bedroom 9, Bedroom 7, Bedroom 23, Bedroom 16, Bedroom 18, Bedroom 40, Bedroom 34, Bathroom 3, Bathroom 4, Bedroom 21, Bathroom 18, Bathroom 23, Bathroom 5, Bedroom 6, Bathroom 11, Bedroom 17, Bedroom 32, Bedroom 37, Bedroom 38, Bedroom 29, Bathroom 12, Bedroom 35
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
(712) 527-3114
Listed By:
Julie O'hara
(712) 527-3114
Added: Oct 17, 2025
Changed: Jul 31
Last Checked: Jul 31 at 2:06PM
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.
This reimagined 15-unit multifamily apartment building is designed for efficient ownership and tenant appeal. The interiors feature custom trim and crown molding, along with contemporary kitchens and baths with glass tile backsplashes and thoughtfully chosen finishes. Each unit is supported by its own HVAC system, breaker box, and on-demand water heater.
Significant updates are included with new electrical, plumbing, roof, and outdoor improvements/landscaping completed in 2024. The property sits on a 1.71-acre lot and was built in 1970, offering established multifamily housing with modernized components.
For buyers seeking a manageable, system-per-unit configuration and recent exterior and core improvements, this property combines updated building elements with consistent in-unit upgrades across the 15 units.
Significant updates are included with new electrical, plumbing, roof, and outdoor improvements/landscaping completed in 2024. The property sits on a 1.71-acre lot and was built in 1970, offering established multifamily housing with modernized components.
For buyers seeking a manageable, system-per-unit configuration and recent exterior and core improvements, this property combines updated building elements with consistent in-unit upgrades across the 15 units.
Key Highlights
- 15‑unit multifamily apartment building with custom trim and crown molding
- Each unit has its own HVAC system, breaker box, and on‑demand water heater
- New electrical, plumbing, roof, and outdoor improvements/landscaping completed in 2024
Property Analytics
Property Profile
Current Use
Lease Details
15
Residential units
Location Intelligence
Trade Area within ½ mile
133
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Reimagined 15-unit apartment building with individual HVAC, breaker boxes, and on-demand water heaters, plus 2024 exterior improvements.
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 $3,000,000.
What are key features of this property?
This property features: 15‑unit multifamily apartment building with custom trim and crown molding; Each unit has its own HVAC system, breaker box, and on‑demand water heater; New electrical, plumbing, roof, and outdoor improvements/landscaping completed in 2024
