Rachel Raak
BEDS11
BATHS6 full 1 partial
MLS#830098
STATUSPending
PROPERTY TYPEMulti Unit - Multiple
Property Description
Rare investment opportunity in the heart of Le Mars!! This remodeled 3-story property features three spacious apartments, plus a unique detached home, with an attached garage. Both units and detached home are fully updated and leased. Major improvements include: a new roof in 2025, modern kitchens and baths, in-unit laundry, a fire suppression system, and separate utilities ? which keeps landlord expenses low. Each unit offers 3 bedrooms with generous layouts. While the detached home offers vaulted ceilings and a loft bedroom ? giving strong tenant appeal across the board. With four income-producing units, stable tenancy, and low operating overhead, this property delivers consistent cash flow and low-term value. Rent values are competitive for the market, with room for future growth..
Property Features
Property Type: Multi Unit - Multiple
Cooling: Central
Fuel Type: Natural Gas
Garage: Detached
Garage: 1
Heating: Forced Air
Lot Size: 0.34 Acres
Taxes: $3,942
Year Built: 1901
Units
Unit Type 1:
Bedrooms: 3
Bathroom Full: 2
Rent: $1440
Square Footage: 1450
Unit Type 2:
Bedrooms: 3
Bathroom Full: 1
Rent: $975
Square Footage: 1450
Unit Type 3:
Bedrooms: 3
Bathroom Full: 2
Rent: $1025
Square Footage: 1450
Unit Type 4:
Bedrooms: 2
Bathroom Full: 1
Bathroom Half: 1
Rent: $850
Square Footage: 700
Feature Descriptions
Days on Site: 200
Driveway: Crushed Rock
Lot: Level Lot, Retaining Wall, Trees
Parcel: 19149-12-16-182-007
Rental: Yes
Rental Income: 51480
Sewer: City
SQFT Main: 1450
Water: City
Zoning: L - R3+
Local Schools
High School: LeMars
Middle School: LeMars
Elementary School: LeMars
Listed By / Shown By
Listed By
Agency Name: United Real Estate Solutions
Shown By
Agent Name: Rachel Raak
Agent Phone: (712) 454-4227
Estimate Your Payment
Estimated Payment
$ 2,662.07 per month $2,222.74 Principal & Interest $328.50 Property Tax $110.83 Homeowner's InsuranceChange Payment Information
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401 Central Ave Sw | MLS# 830098
This multi-family property located at 401 Central Ave Sw, Lemars, IA 51031 is currently listed for sale by United Real Estate Solutions, with an asking price of $380,000. Search Lemars real estate on rachelraak.unitedrealestatesolutions.com today.