36-Unit Apartment
For Sale
$2,200,000
Pending
611 E South St, Marshalltown, IA 50158
Three buildings include garage parking and laundry facilities on two levels in each building.
Property SizeContact for details
Days on Market15
Property Features for 611 E South St
General Information
Standard status
Pending
Total Parking Spaces
20
Property subtype
Residential Income
Occupancy
100%
Net Operating Income
$177,377
Financials
Asking Price
$2,200,000
Cap Rate
8.06%
Units
Unit Mix
24 x 1BR, 12 x 2BR
Multifamily Units
36
Taxes and HOA fees
Annual Taxes
$27,162
Amenities
on-site laundry
Building Details
Buildings
3
Listing Agency:
Gateway Real Estate Advisors
Listed By:
Nic Madsen · License #S67281000
(712) 540-6562
Source:
Exprealty
Added: Sep 11
Changed: Sep 24
Last Checked: Sep 24 at 2:07PM
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 Gateway Real Estate Advisors
Investment Insights
Based on property information with market context.
At 611 E South St in Marshalltown, this apartment property comprises three buildings with 36 units: 24 one-bedroom apartments and 12 two-bedroom apartments. The site also includes 20 garages, and each building has on-site laundry facilities on two floors. Unit interiors have been updated, and the buildings have newer roofs and boilers. Occupancy is 100%; the in-place cap rate is 8.06%.
The property is in Marshalltown, the Marshall County seat. JBS pork processing, Emerson Fisher, and Lennox HVAC are identified as employment anchors in the area.
The property is in Marshalltown, the Marshall County seat. JBS pork processing, Emerson Fisher, and Lennox HVAC are identified as employment anchors in the area.
Key Highlights
- 36 apartments across three buildings: 24 one‑bedroom units and 12 two‑bedroom units
- 100% occupied with an in‑place 8.06% cap rate
- 20 garages on site
Property Analytics
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Current Use
Lease Details
36
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
230
Businesses Nearby
Explore this area
Business Placement
Demographics for 50158, IA
31,466
Population
12,614
Households
2.5
Avg Household Size
38
Median Age
21%
College-Educated
84%
High-School Grad
212.2 sq mi
ZIP Area
148
Density / Sq Mi
$71,212
Median Household Income
$40,437
Median Earnings
$865
Median Rent
$130,500
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 - Three buildings include garage parking and laundry facilities on two levels in each building.
Where is this apartment building located?
The property is located at 611 E South St Marshalltown, IA.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: 36 apartments across three buildings: 24 one‑bedroom units and 12 two‑bedroom units; 100% occupied with an in‑place 8.06% cap rate; 20 garages on site
