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    Spencer, IA Multifamily Properties for Sale

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    Fostoria, IA Everly, IA Milford, IA
    Value-Add 6-Unit Apartment Building
    $175,000
    4,308 SF
    Value-Add 6-Unit Apartment Building

    21 W 1ST ST, Spencer, IA 51301

    Partially remodeled 6-plex with two units rented and four units ready for renovation and lease-up to boost returns.
    • 6‑plex in Spencer, IA with 2 of 6 units currently rented for immediate income
    • Partially remodeled property—some improvements already underway, with remaining units ready for renovation and lease‑up
    • Year built: 1949
    • Heating: baseboard; cooling: window unit(s)
    Updated: Feb 24
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    Spencer Iowa Multifamily Investment Opportunity
    $115,000
    0.18 Acres
    Spencer Iowa Multifamily Investment Opportunity

    19 E 2nd Street, Spencer, IA 51301

    Multifamily property in Spencer, Iowa, with a strong occupancy history.
    • Consistent cash flow and strong occupancy history, ideal for investors.
    • Two separate living units providing dual income potential.
    • Located near downtown Spencer.
    • Main floor bedrooms offer accessibility.
    • Durable exterior construction with block and wood siding.
    Updated: Oct 10, 2025
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    Three-Unit Multifamily Investment Opportunity
    $68,000
    0.18 Acres
    Three-Unit Multifamily Investment Opportunity

    Three-unit property in Spencer, Iowa, ideal for investors.

    807 4th Avenue, Spencer, IA 51301

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    Based on your search, we've compiled 13 Potential Opportunities for your consideration. Besides 3 Active listings in Spencer, IA, we suggest exploring several alternatives: 4 properties in Nearby Cities, and similar 2 Off-Market properties to explore as potential leads, plus 4 Land Listings that present a potential for development.

    Opportunities in Nearby Cities

    Here are 4 Similar properties we found in Nearby Locations for your consideration.

    Contemporary Duplex on Spirit Lake
    $1,990,000
    3,848 SF
    Contemporary Duplex on Spirit Lake

    New construction duplex designed for comfortable lake living.

    16822 255th Street, Spirit Lake, IA 51360

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    Contemporary Duplex on Spirit Lake
    $1,990,000
    3,834 SF
    Contemporary Duplex on Spirit Lake

    New construction duplex designed for comfortable lake living.

    16822 255th Street, Spirit Lake, IA 51360

    View details
    Arnolds Park Duplex with Upgrades
    $389,000
    1,424 SF
    Arnolds Park Duplex with Upgrades

    Well-maintained duplex in desirable neighborhood, close to amenities.

    416 Emerald Dr., Arnolds Park, IA 51331

    View details
    Golf Course Patio Home
    $595,000
    1,885 SF
    Golf Course Patio Home

    Move-in ready duplex on Emerald Hills Golf Course.

    1018 Emerald Hills Drive, Arnolds Park, IA 51331

    View details

    Potential Development Sites for Consideration

    Can't find the perfect fit? These Land listings present an alternative path: the potential to develop a property for your specific goals.

    Important: These AI-suggestions are a starting point, not a guarantee of permitted use. All zoning, permitting, and land use information must be independently verified by you with the appropriate local authorities before making any commitments.

    Waterfront Recreational Land Parcel
    $124,900
    9.30 Acres
    Waterfront Recreational Land Parcel

    Private lakeshore acreage with a gravel central drive and recognized RV or seasonal campground potential, subject to approvals.

    Fulda, MN 56131

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    Lake Thompson Waterfront Recreational Lot
    $193,800
    0.46 Acres
    Lake Thompson Waterfront Recreational Lot

    0.46 acre lot with 75 feet of lake frontage.

    21425 Sunset Trail, Lake Preston, SD 57249

    View details
    Improved Residential Lot Ready-to-Go
    Contact for pricing
    Improved Residential Lot Ready-to-Go

    Affordable, improved corner lot in Davis City, Iowa.

    SE Corner W High Street, Davis City, IA 50065

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    Land for Multi-Family Housing
    $249,900
    2.16 Acres
    Land for Multi-Family Housing

    2.16 acre lot zoned for multi-family housing development.

    1610 7th Avenue E, Alexandria, MN 56308

    View details

    Off-Market Properties in Spencer, IA

    Consider similar Off-Market properties in Spencer, IA. You may contact the owners directly to inquire about their potential intentions to sell. To help you make a strong first impression, we can assist by reaching out to these owners with compelling proposals created using our AI tool.

    317 18th St
    MOBILE HOME PARK, TRAILER PARK
    Lot: 3.75 Acres
    Value Estimation by Request

    317 18th St, Spencer, IA 51301-3400

    View details
    317 11th SE St
    MOBILE HOME PARK, TRAILER PARK
    8,738 SF Lot: 1.65 Acres
    Value Estimation by Request

    317 11th SE St, Spencer, IA 51301-6045

    View details

    Spencer, IA Multifamily Properties Investment Opportunities Market Analysis

    Explore 5 multifamily properties for sale in Spencer, IA, showcased through 3 active listings on our real estate platform. These investment opportunities span a total of 4,308 square feet of properties for sale, with an estimated market value of $175,000.

    Sale prices for multifamily properties in Spencer, IA start at $175,000, averaging $175,000, and reaching up to $175,000 — offering options for a variety of budgets and business needs. Daily updated analytics ensure you stay ahead with the latest data and market trends.

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    Top Commercial Asset Segments

    Apartment buildings 1
    Duplexes 1
    Triplexes 1

    Demographics Overview

    Population 12K
    Population Growth (5Y) +0.0%
    Median Household Income $61,175
    College Educated 35.9%

    High-Yield Neighborhoods for Investment

    Identify Spencer submarkets with the highest inventory density on the market and evaluate the median listing prices of real estate assets

    Neighborhood Average Price
    51301 $119.3K

    Taxes & Financing

    Tax Rate (average for all types) 2.27%
    Property Tax per SF $32.12 per sq ft
    Tax Rate vs County Average 0.19 pp above county avg
    Average Loan-to-Value 65.0%

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