Fully Occupied Triplex with Separate
For Sale
$189,000
415 E Main Street, Montezuma, IA 50171
MULTI_FAMILY - Montezuma, IA
Property Size2,798 SF
Lot Size0.20 Acres
Price / SF$67.55
Days on Market56
Property Features for 415 E Main Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning
Business/Commercial
Basement
Full
Lot features
Corner Lot
Directions
I-80 to Hwy 63 south into Montezuma left on E Main St 4 blocks to property on left
Standard status
Active
APN
1442300
Size
2,798 SF
Lot size
0.20 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
MONTEZUMA LOT 8 BLOCK 9
Tax Annual Amount
1632
Legal Description
MONTEZUMA LOT 8 BLOCK 9
Utilities
Heating system
Forced Air
Water source
Public
Building Details
Year built
1900
Number of units
3
Building materials
Frame, Vinyl Siding
Roof type
Metal
Listing Agency:
AE Realty, Inc
(641) 623-2639
Listed By:
Andy Erselius · License #***
(641) 226-2639
Added: Jun 30
Changed: Jul 18
Last Checked: Aug 24 at 9:06AM
MLS# 6339897
Copyright © 2026 NoCoast 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 triplex at 415 E Main Street, Montezuma, is fully occupied and arranged as three separate units, each with a full bath, kitchen with owner-owned appliances, its own electric meter, an HVAC system, and laundry hookups. The owner pays for mowing and snow removal, while tenants pay their own utilities. Unit rent is currently $2,200 per month total, with the main level at $1,300 (one-bedroom $600 and one-bedroom $700) and the upper unit at $900 (a three-bedroom). The property has been well maintained, including vinyl siding, a metal roof, circuit breaker panels, and window replacements. Portions of all three units have been updated within the last 24 months, including the main floor kitchen (’26), upstairs shower, kitchen floor and paint (’26), and new windows plus a renovated third bedroom in the upper unit.
The building sits on a 0.2-acre lot in Business/Commercial zoning, and it is located about one block from the Montezuma square.
For tenants or operators looking for an income-producing multifamily setup with in-unit separation, each unit’s dedicated electric meter, HVAC, and laundry hookups support practical everyday use. With recent interior and exterior updates, the property offers a maintained configuration intended to keep all three units in service.
The building sits on a 0.2-acre lot in Business/Commercial zoning, and it is located about one block from the Montezuma square.
For tenants or operators looking for an income-producing multifamily setup with in-unit separation, each unit’s dedicated electric meter, HVAC, and laundry hookups support practical everyday use. With recent interior and exterior updates, the property offers a maintained configuration intended to keep all three units in service.
Key Highlights
- Fully occupied 3‑unit triplex with monthly rent of $2,200; Main level $600 (1BR) and $700 (1BR); Upper level $900 (3BR).
- Owner and tenant costs: tenants pay their own utilities; owner pays mowing and snow removal.
- Unit updates within last 24 months: main floor kitchen updated in '26; upstairs shower, kitchen floor and paint in '26; new windows and renovated 3rd bedroom in upper unit.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
208
Businesses Nearby
Explore this area
Business Placement
Demographics for 50171, IA
2,703
Population
1,592
Households
1.7
Avg Household Size
47
Median Age
17%
College-Educated
96%
High-School Grad
109.8 sq mi
ZIP Area
25
Density / Sq Mi
$55,944
Median Household Income
$42,356
Median Earnings
$822
Median Rent
$188,700
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 - Fully occupied triplex with separate electric meters, HVAC, and laundry hookups, zoned Business/Commercial.
Where is this triplex located?
The property is located at 415 E Main Street Montezuma, IA.
What is the asking price?
The asking price for this property is $189,000.
What are key features of this property?
This property features: Fully occupied 3‑unit triplex with monthly rent of $2,200; Main level $600 (1BR) and $700 (1BR); Upper level $900 (3BR).; Owner and tenant costs: tenants pay their own utilities; owner pays mowing and snow removal.; Unit updates within last 24 months: main floor kitchen updated in '26; upstairs shower, kitchen floor and paint in '26; new windows and renovated 3rd bedroom in upper unit.
