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    Spencer, IA
    Multifamily

    Spencer, IA Multifamily Properties for Sale

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    Fostoria, IA Everly, IA Milford, IA Spirit Lake, IA Arnolds Park, IA Ruthven, IA Peterson, IA Graettinger, IA
    Six-Unit Multifamily Property
    Updated: Feb 24
    Six-Unit Multifamily Property

    21 W 1ST ST, Spencer, IA 51301

    $175,000
    4,308 sqft 0.12 AC lot
    6‑plex in Spencer, IA with 2 of 6 units currently rented
    Partially remodeled property with 4 remaining units available for renovation and lease‑up
    Built in 1949
    Heating: baseboard
    Cooling: window unit(s)
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    Three-Unit Residential Income Property
    Updated: Dec 8, 2025
    Three-Unit Residential Income Property

    807 4th Avenue, Spencer, IA 51301

    $63,000
    0.18 AC lot
    3‑unit investment property in Spencer with public water and public sewer
    Year built 1900 with vinyl siding and an asphalt shingle roof
    Forced‑air heating system
    Interior includes 6 bedrooms and 3 bathrooms across the units
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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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    Turn Any Listing Into an Investment Snapshot Owner equity, real caprate, demand score for every listing. Go To Analytics Center
    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.

    Lakefront Duplex Retreat
    Lakefront Duplex Retreat

    16822 255th Street, Spirit Lake, IA 51360

    $1,990,000
    3,834 sqft

    New construction duplex with a walk-out lower level and direct access to 57' of lakeshore.

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    Contemporary Duplex on Spirit Lake
    Contemporary Duplex on Spirit Lake

    16822 255th Street, Spirit Lake, IA 51360

    $1,990,000
    3,848 sqft

    New construction duplex designed for comfortable lake living.

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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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    Duplex Patio Home on Golf Course
    Duplex Patio Home on Golf Course

    1018 Emerald Hills Drive, Arnolds Park, IA 51331

    $595,000
    1,885 sqft 0.11 AC lot

    Impeccably maintained duplex with a stamped concrete patio overlooking the 9th hole, fully furnished and move-in ready.

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    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.

    Lakeshore Recreation Land Parcel
    Lakeshore Recreation Land Parcel

    Tripp, Fulda, MN 56131

    $124,900
    9.30 AC lot

    Recreation residential shoreland acreage with gravel access and measured lakeshore for RV or seasonal campground plans.

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    Lakefront Recreation Lot with Boat Lift
    Lakefront Recreation Lot with Boat Lift

    21425 Sunset Trail, Lake Preston, SD 57249

    $193,800
    0.46 AC lot

    Manageable lakefront lot with utilities on site, approximately 75 feet of shoreline, and a boat lift for seasonal water use.

    View details
    Land for Multi-Family Housing
    Land for Multi-Family Housing

    1610 7th Avenue E, Alexandria, MN 56308

    $249,900
    2.16 AC lot

    2.16 acre lot zoned for multi-family housing development.

    View details
    Alexandria Lakeshore Property with Rental Opportunity
    Alexandria Lakeshore Property with Rental Opportunity

    5950 County Road 8 NW, Alexandria, MN 56308

    $798,500
    15.62 AC lot

    Lakeshore property with rental cabins and RV sites near Alexandria.

    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

    317 18th St, Spencer, IA 51301-3400

    Value Estimation by Request
    3.75 AC lot
    View details
    317 11th SE St
    MOBILE HOME PARK, TRAILER PARK

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

    Value Estimation by Request
    8,738 sqft 1.65 AC lot
    View details

    Spencer, IA Multifamily Properties Market Trends and Statistics

    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

    Commercial property segments ranked by active listings on the market

    Apartment buildings 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 $117.7K

    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

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