111 E 9th Street Madrid, IA 50156
Discover the potential of this 3-plex multi-family property in the heart of Madrid. This property sits on a sizable double lot and requires some TLC but has a ton of potential! This property is being sold "As Is. It is perfect for savvy investors or those looking to expand their rental portfolio. This 2-story property features a total of 3 units, with 2 units on the main floor and 1 unit occupying the upper level. Each unit has 1 bedroom and 1 bath. Additionally, one of the lower-level units has a non-conforming bedroom/flex space providing additional square footage. Included in this sale is a. .23 acre lot to the north of the property, providing additional space for potential expansion or development projects. This valuable addition enhances the property's long-term investment appeal. A standout opportunity lies in the potential to increase rent rates, as they have remained the same for many years. This presents a clear pathway to boosting rental income and maximizing the property's profitability, making it an attractive proposition for investors seeking solid returns. Whether you're a seasoned investor or an aspiring property owner eager to kickstart your rental portfolio, this is a great investment!
- Property TypeMulti-Family
- NeighborhoodN/A
- CountyBoone
- Taxes$2,061
- HOA/Condo/Coop Fees$0
- Days on Site40 Days
- MLS StatusPending
- MLS ID Number694100
- Home Size Source N/A
- Year Built1885
- Lot Size0.2 Acres
- Full Baths3
- Partial BathsN/A
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General Features
- Style Two Story
- Construction Asbestos
- Sewer Public Sewer
- Basement Unfinished
- Number of Stories 22
- Acreage 0.2
- Water Public
- Utilities Electricity AvailableNatural Gas AvailableWater Available
- Zoning INC
Interior Features
- Heating Forced AirGasNatural Gas
- Appliances RefrigeratorStove
- Flooring CarpetLaminateVinyl
- Interior Cable T V
Exterior Features
- Roof AsphaltShingle
- Lot Rectangular Lot
Community Features
- MLS Area Madrid