Rare opportunity to own a fully rented 6-unit multifamily property in a prime locationâ??directly behind the Washington County Fairgrounds! Built in 1952 with 4,189 total square feet, this apartment complex includes six units (numbered 2 through 7) featuring a mix of 1- and 2-bedroom layouts. Unit 2: 2 bed/1 bath. Unit 3: 2 bed/2 bath. Units 4 & 5: 1 bed/1 bath. Unit 6: 2 bed/1 bath, no living room â?? $725/month. Unit 7: 1 bed/1 bath â?? $700/month. All units are currently tenant-occupied on month-to-month leases, providing immediate cash flow for investors. A shared on-site laundry space adds convenience and generates an additional $400â??$500/month in income. The property sits on a generous lot with substantial green space behind the buildingâ??offering tenant appeal and possible future development options. While the property is fully functional and income-producing, it offers significant potential for value-add improvements and cosmetic updatesâ??making it an ideal opportunity for investors seeking both steady income and long-term appreciation. 48-hour notice required for all showings. Interior photos are available upon request of Units 3, 5, 6, and 7 to verify layout. Units 2 and 4 are very similar, but I was not able to get inside those yet. Storage container is reserved.
Unique duplex investment opportunity in Washington! This property features two separately metered units, both with private entrances on the front of the home. Unit 1 is a 3-bedroom, 1-bath layout located entirely on the main floor, with access to a small unfinished basement. Unit 2 opens to a main-level entryway and living space, with the kitchen, bedroom, and bathroom located upstairs. Both units are currently tenant-occupied on month-to-month leases, offering immediate cash flow for investors or potential for an owner-occupant looking to offset their mortgage. Built in 1890, the home offers charm, versatility, and walkable access to downtown Washingtonâ??s shops, restaurants, and schools. Each tenant pays their own apartment's electric, gas, and water. 48-hour notice required for all showings. Interior photos available for layout upon request.
Washington is located in Iowa. Washington, Iowa has a population of 7,314. Washington is less family-centric than the surrounding county with 23.25% of the households containing married families with children. The county average for households married with children is 32.06%.
The median household income in Washington, Iowa is $55,757. The median household income for the surrounding county is $66,908 compared to the national median of $69,021. The median age of people living in Washington is 40.4 years.
The average high temperature in July is 85.7 degrees, with an average low temperature in January of 12.8 degrees. The average rainfall is approximately 37.3 inches per year, with 28.7 inches of snow per year.
