Investment Opportunity This well-maintained, single-owner apartment complex offers an exceptional turn-key investment in a stable Iowa community. Consisting of 3 buildings totaling 7,824 square feet on a generous 0.89-acre lot, the property features 22 units -all configured as spacious 2-bedroom, 1-bathroom layouts - and enjoys 100% occupancy, delivering immediate and reliable cash flow. Built in 1996 with solid construction, this vintage-style multi-family property provides functional and comfortable floor plans that continue to attract long-term tenants. The complex includes ample parking and outdoor space, situated in a convenient location near downtown Colfax with easy access to local amenities, schools, and major transportation routes. Key Highlights: 22 units ? all 2 bed / 1 bath -100% occupancy with strong rental demand -Single-owner property (family-owned and operated) -3 buildings totaling 7,824 sq ft on 0.89 acres -Vintage charm with practical, well-built design -Excellent parking and outdoor space -Strong income-producing asset Perfect for investors seeking a fully occupied, cash-flowing multi-family property with consistent performance. Colfax's small-town appeal combined with proximity to larger employment centers supports continued tenant stability and demand. Serious inquiries only - contact for detailed financials, rent roll, unit photos. All information obtained from seller and public records.
Colfax is located in Iowa. Colfax, Iowa has a population of 1,957. Colfax is more family-centric than the surrounding county with 29.83% of the households containing married families with children. The county average for households married with children is 29.28%.
The median household income in Colfax, Iowa is $75,170. The median household income for the surrounding county is $63,182 compared to the national median of $69,021. The median age of people living in Colfax is 37.8 years.
The average high temperature in July is 85.1 degrees, with an average low temperature in January of 10.8 degrees. The average rainfall is approximately 35.8 inches per year, with 28.1 inches of snow per year.
