414 Willow St, Paullina, IA 51046

Property Details for 414 Willow St

Year built

1975

Property type

Residential income homes

Description

This exceptional multifamily investment opportunity encompasses a five-unit rental portfolio situated at 414, 418-420, 422-424 N Willow St, Paullina, IA 51046. The property consists of three buildings constructed in 1975, with some renovations completed in 2024. The portfolio includes five units, each currently occupied, generating a substantial monthly income. Unit sizes vary, offering a mix of one-, two-, and three-bedroom layouts. Specific unit features include updated vinyl sliders (on most windows), LVP flooring, mini-split and window air conditioning units, and updated vinyl flooring in select units. Heating systems are a mix of baseboard electric and mini-split units. Water heaters are electric, with a 20-gallon capacity in at least one unit. Stoves are included in at least one unit. The property also boasts seven garage units, four of which feature updated doors and automatic openers, generating additional rental income. Current monthly rental income totals $3,135, while expenses, including insurance, property taxes, mowing, snow removal, and electricity, amount to $612. Additional expenses should be factored in for property management, repairs, maintenance, and future renovations. This property presents a compelling investment opportunity with significant potential for growth and return. The asking price is $299,000, representing a price per unit of $59,800. The property is located in O'Brien County, Iowa.

Location Insight

City

Paullina

County

O'Brien

State

Iowa

Longitude

-95.691596

Latitude

42.984896