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3-Unit Multifamily Property
For Sale
$110,000

508 N Iowa Ave, Washington, IA 52353

Residential, Washington, IA

Property SizeContact for details
Days on Market48

Property Features for 508 N Iowa Ave

General Information

Property type Residential Multi Family
Property subtype Other
Zoning Residential
Full bathrooms 3
Rooms Bathroom 1, Bathroom 3, Bathroom 2
Parking 1
Parking features Garage - Detached, On Street
Window features Storm Window(s)
Patio and Porch features Porch
Exterior features Front Porch
Appliances Range or Oven, Refrigerator
Elementary school Washington
Middle school Washington
Directions North of Iowa Ave. from main square. Head north, go a few blocks until you reach the 500 block. House on right side.
Subdivision Washington Area
Standard status Active
APN 1117181003

Taxes and HOA fees

Tax Year 2024
Tax Annual Amount 2300

Utilities

Heating system Baseboard, Electric (Heating), Forced Air

Building Details

Year built 1900
Floors in Building 2
Flooring type Carpet
Building materials Wood, Frame
Architectural style Other
Listing Agency: Century 21 Trinity
Listed By: Patty Elliott
Added: Sep 2 Changed: Oct 17 Last Checked: Oct 19 at 6:06PM
MLS# 202605331

Copyright © 2026 Iowa City Area Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

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Investment Insights

Based on property information with market context.

Built in 1900, this three-unit multifamily property at 508 N Iowa Ave in Washington, Iowa, includes one two-bedroom, one-bath unit and two one-bedroom, one-bath units. One apartment has a three-season porch. Heating is electric, with forced-air systems in two units and baseboard heat in the third. Appliances include a range or oven and a refrigerator; flooring is carpet. Parking features include a detached garage and on-street spaces.

The property is near downtown Washington. The units have long-term renters, and the owner pays for water.

Key Highlights

  • Three residential units: one 2‑bedroom, 1‑bath unit and two 1‑bedroom, 1‑bath units
  • One apartment includes a three‑season porch
  • Built in 1900

Property Analytics

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Lease Details

3
Residential units

Location Intelligence

Trade Area within ½ mile

520
Businesses Nearby

Demographics for 52353, IA

9,416
Population
3,995
Households
2.4
Avg Household Size
41
Median Age
22%
College-Educated
93%
High-School Grad
157.4 sq mi
ZIP Area
60
Density / Sq Mi
$63,232
Median Household Income
$36,062
Median Earnings
$912
Median Rent
$155,700
Median Home Value
Check the figures for this property Cap Rate, Value Estimation, Potential NOI and more
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Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022
7.5% 2023
7.8% 2024
8% 2025

Frequently Asked Questions

What type of property is this?
Multifamily property - The unit mix includes a two-bedroom residence and two one-bedroom apartments, with a three-season porch serving one unit.
Where is this multifamily property located?
The property is located at 508 N Iowa Ave Washington, IA.
What is the asking price?
The asking price for this property is $110,000.
What are key features of this property?
This property features: Three residential units: one 2‑bedroom, 1‑bath unit and two 1‑bedroom, 1‑bath units; One apartment includes a three‑season porch; Built in 1900
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