Courtesy: Keller Williams Legacy Group
563-568-0011
Investment Alert!! Check out this income producing property available in New Albin, IA. This property houses three newly updated apartments along with an event center and commercial kitchen. Updates include new flooring and appliances, new water heaters, furnace, AC and updated electrical and plumbing. Current rental income from the apartments totals $2200/month. The commercial side of the property consists of a bar area, commercial kitchen, covered patio. These was formally a successful bar and is now ready to rent out for events such as birthday parties or bachelor parties. Lots of potential areas to expand - The new owner could consider offering pizza and sandwiches for purchase from those using the splash pad or visiting town. How about opening for breakfast on the weekends? Or hosting a televised sporting event? Turn-key situation with the bar and kitchen. Letter of pre-qualification and minimum 24 hour notice required to view apartments.
New Albin is located in Iowa. New Albin, Iowa has a population of 469. New Albin is more family-centric than the surrounding county with 30.08% of the households containing married families with children. The county average for households married with children is 26.92%.
The median household income in New Albin, Iowa is $49,000. The median household income for the surrounding county is $59,461 compared to the national median of $69,021. The median age of people living in New Albin is 47.2 years.
The average high temperature in July is 82.9 degrees, with an average low temperature in January of 9.4 degrees. The average rainfall is approximately 35.4 inches per year, with 38.7 inches of snow per year.
