36-Unit Apartment
New
For Sale
$2,200,000
611 E South Street, Marshalltown, IA 50158
Multi-Unit, Marshallltown, IA
Property Size2,784 SF
Lot Size2.48 Acres
Price / SF$790.23
Days on Market1
Property Features for 611 E South Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Res 3+
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 1, Bathroom 2, Bedroom 2, Bathroom 1
Directions
Maps
Subdivision
Other Default
Standard status
Active
APN
8318-01-101-008
Size
2,784 SF
Lot size
2.48 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
W 28 RODS OF NW NW EX PARCELS A & B & EX BROOKSHIRE ESTATES FIRST & SECOND ADD
Tax Annual Amount
27162
Legal Description
W 28 RODS OF NW NW EX PARCELS A & B & EX BROOKSHIRE ESTATES FIRST & SECOND ADD
Utilities
Heating system
Forced Air
Amenities
on-site laundry
Building Details
Year built
1965
Number of units
36
Listing Agency:
Gateway Real Estate Advisors
(712) 226-8000
Listed By:
Nic Madsen · License #S67281000
(712) 540-6562
Added: Sep 11
Last Checked: Sep 11 at 11:06PM
MLS# 834593
Copyright © 2026 Northwest Iowa Regional Board 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.
Investment Insights
Based on property information with market context.
This 36-unit apartment property comprises three buildings with 24 one-bedroom units and 12 two-bedroom units. The buildings include on-site laundry facilities on two floors in each structure, along with 20 garages. Unit interiors have been updated, while newer roofs and boilers provide recent capital improvements. The property was built in 1965 and is heated by forced-air systems.
Located at 611 E South Street in Marshallltown, Iowa, the property occupies 2.48 acres and carries Res 3+ zoning. The community is in Marshall County, with area employment anchored by JBS pork processing, Emerson Fisher, and Lennox HVAC. The apartments are reported at 100% occupancy, and the in-place cap rate is 8.06%.
Located at 611 E South Street in Marshallltown, Iowa, the property occupies 2.48 acres and carries Res 3+ zoning. The community is in Marshall County, with area employment anchored by JBS pork processing, Emerson Fisher, and Lennox HVAC. The apartments are reported at 100% occupancy, and the in-place cap rate is 8.06%.
Key Highlights
- 36 units across three apartment buildings
- Unit mix includes 24 one‑bedroom and 12 two‑bedroom apartments
- 20 garages and on‑site laundry in each building
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-building residential property with full occupancy, garages, on-site laundry, and updated apartment interiors.
Where is this apartment building located?
The property is located at 611 E South Street 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 units across three apartment buildings; Unit mix includes 24 one‑bedroom and 12 two‑bedroom apartments; 20 garages and on‑site laundry in each building
