101 4Th Ave Grinnell, IA 50112
- Commercial real estate
- 2.44 lot acres
Current Use by Public Records
- Commercial real estate
Property Details for 101 4Th Ave
- Year built
- 1974
- Lot size
- 2.44 lot acres
- Property type
- Commercial real estate
Description
This exceptional value-add multifamily investment opportunity encompasses three apartment buildings situated on a 2.44-acre lot in Grinnell, Iowa. The complex, constructed between 1974 and 1975, comprises 18 units: one 1-bedroom/1-bathroom unit and seventeen 2-bedroom/1-bathroom units, totaling 16,344 square feet. The buildings are three stories high, offering a mix of unit configurations to cater to a diverse tenant base. Conveniently located near major employers including Grinnell Mutual Reinsurance Company, Brownell's, Jeld-Wen, and Grinnell College, this property benefits from a strong and stable local economy. Its proximity to UnityPoint Health Grinnell Regional Medical Center further enhances its appeal. The property features several long-term residents and a low-density layout. All rent collection is streamlined through online ACH, debit card, or credit card payments, with all tenants undergoing credit and background checks. Grinnell itself is a highly-rated city in Iowa, boasting excellent public schools and a thriving community. This presents a compelling investment opportunity with significant potential for increased returns through strategic property improvements and management. Additional photos and virtual tours of select units are available online. This property is classified as a Class B multifamily building.
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Grinnell
- County
- Poweshiek
- State
- Iowa
- Longitude
- -92.736638282516
- Latitude
- 41.743291854492
