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    540 State St Mason City, IA 50401

    Sponsored
    For Sale
    $598,000

    13-Unit Apartment Building, Prime Location

    Property size:
    10,038 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional investment opportunity presents a 13-unit apartment building situated on a spacious 1.01-acre lot in the heart of Mason City, Iowa. The property, located at 540 E State St, boasts a desirable location along Willow Creek, offering scenic views. The complex comprises two buildings constructed in 1930 and 1977, with renovations completed in 1960. The total square footage is 10,038, with a unit mix designed to attract a diverse tenant base. This includes three one-bedroom, one-bathroom units

    Property Features for 540 State St

    General Information

    Property type
    Multifamily properties
    Square Feet
    10,038 SF
    Lot Size
    43,996 SF

    Building Details

    Year Built/Renovated
    1930/1960
    Buildings
    1
    Units
    13

    HighLights

    • Exceptional 13‑unit apartment building investment opportunity on a 1.01‑acre lot in Mason City, IA.
    • Desirable location at 540 E State St, along Willow Creek.
    • Two buildings (1930 & 1977 construction), renovated in 1960, totaling 10,038 square feet.
    • Unit mix designed for diverse tenancy, including three one‑bedroom/one‑bathroom units.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Mason City
    County
    Cerro Gordo
    State
    Iowa
    Longitude
    -93.1913694
    Latitude
    43.1525124

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    FAQs

    What type of property is this?
    Multifamily property - 13-Unit Apartment Building, Prime Location
    Where is this multifamily property located?
    The property is located at 540 State St Mason City, IA.
    What is the asking price?
    The asking price for this property is $598,000.
    What are key features of this property?
    This property features: Exceptional 13-unit apartment building investment opportunity on a 1.01-acre lot in Mason City, IA.; Desirable location at 540 E State St, along Willow Creek.; Two buildings (1930 & 1977 construction), renovated in 1960, totaling 10,038 square feet.
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    540 State St Mason City, IA 50401
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