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    Spencer, IA
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    Spencer, IA Multifamily Properties for Sale

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    Dickens, IA Fostoria, IA Everly, IA Rossie, IA Ruthven, IA Milford, IA Terril, IA West Okoboji, IA
    7 properties
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    New Construction Duplex
    Updated: Jun 12
    New Construction Duplex

    1612 W 11th Street, Spencer, IA 51301

    $289,900
    1,223 sqft 0.13 AC lot
    Under‑construction 2025 ranch‑style duplex property
    1,223 square feet with two bedrooms and two bathrooms
    Maple cabinets, quartz countertops, 9‑ft ceilings, and Pella windows
    9ft x 15ft covered porch with potential for four‑season enclosure
    Double attached garage is lined, insulated, and heated
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    Triplex with Basement
    Updated: Dec 8, 2025
    Triplex with Basement

    807 4th Avenue, Spencer, IA 51301

    $63,000
    0.18 AC lot
    Three‑unit multifamily property with 6 bedrooms and 3 bathrooms
    0.1818‑acre parcel in Spencer, Iowa
    Built in 1900; repairs and updates are needed
    Basement included
    Forced‑air heating, vinyl siding, and asphalt roof
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    Four-Unit Apartment Property
    Four-Unit Apartment Property

    215 2nd Avenue W, Spencer, IA 51301

    $140,000
    2,688 sqft

    Four separate one-bedroom residences are contained within a single multifamily property in Spencer.

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    Turn a Listing Into an Investment Snapshot Cap Rate, Potential NOI, Demand score for every listing. Go To Analytics Center
    Duplex With Full Basement
    Duplex With Full Basement

    429 & 431 4th Avenue, Spencer, IA 51301

    $175,000
    1,632 sqft

    Two-unit property with updated mechanical systems and refreshed paint in one residence.

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    Four-Unit Apartment Building
    Four-Unit Apartment Building

    206 W 3rd Street, Spencer, IA 51301

    $165,000
    2,716 sqft

    Fully occupied property with four one-bedroom, one-bathroom units and recently installed windows.

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    41-Unit Apartment Building
    41-Unit Apartment Building

    1212 S Grand Avenue, Spencer, IA 51301

    Contact for pricing

    Updated apartment community with private balconies, individual heating and cooling, and garage parking.

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    68-Unit Concrete Apartment Building
    68-Unit Concrete Apartment Building

    110 4th Street SE, Spencer, IA 51301

    Contact for pricing

    Well-built concrete multifamily with individually metered electric and A/C in all units.

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    Based on your search, we've compiled 13 Potential Opportunities for your consideration. Besides 7 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

    Opportunities in Nearby Cities

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

    17-Unit Apartment Building
    17-Unit Apartment Building

    2212 Okoboji Ave, Milford, IA 51351

    $950,000
    10,882 sqft 0.35 AC lot

    Mixed traditional and furnished room configuration supports both extended leases and short-stay rental operations.

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    Triplex with Lake Views
    Triplex with Lake Views

    41 Dewey Street, Arnolds Park, IA 51331

    $699,000
    0.32 AC lot

    Three distinct residences offer a mix of vacation-oriented and long-term rental use near downtown, entertainment, and public waterfront access.

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    Golf Course Patio Home
    Golf Course Patio Home

    1018 Emerald Hills Drive, Arnolds Park, IA 51331

    $595,000
    1,885 sqft

    Move-in ready duplex on Emerald Hills Golf Course.

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    Single-Level Duplex with Garage
    Single-Level Duplex with Garage

    3337 Prairie Meadow Drive A, Milford, IA 51351

    $354,500
    1,416 sqft

    One-story living includes a private patio, attached garage, and access to shared recreational amenities.

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    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

    317 18th St, Spencer, IA 51301-3400

    $200,000
    Estimated value
    3.75 AC lot
    View details
    317 11th SE St
    MOBILE HOME PARK, TRAILER PARK

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

    $215,000
    Estimated value
    8,738 sqft 1.65 AC lot
    View details

    Spencer, IA Multifamily Properties Market Trends and Statistics

    Explore 9 multifamily properties for sale in Spencer, IA, showcased through 7 active listings on our real estate platform. These investment opportunities span a total of 8,259 square feet of properties for sale, with an estimated market value of $832,900.

    Sale prices for multifamily properties in Spencer, IA start at $63,000, averaging $166,580, and reaching up to $289,900 — 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

    Commercial property segments ranked by active listings on the market

    Apartment buildings 2
    Duplexes 2
    Quadplexes 2
    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 average listing prices of real estate assets

    Neighborhood Average Price
    51301 $168K

    Taxes & Financing

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

    Listings Trend

    New vs delisted commercial listings in Clay County

    New Delisted

    Total CRE Inventory on Market (SF)

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