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MLS Number:
28713
List Price:
$459,900
For Sale/Rent:
Sale
House #:
1806
Street:
Main Street
City:
Gowrie
# 1 Bedroom Units:
10
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# 2 Bedroom Units:
1
# 3 Bedroom Units:
0
County:
Webster
Property Type:
Income Property
Public Remarks:
Quiet Cove: Well-maintained 11-unit multifamily in Fort Dodge, IA—10 one-bedroom + 1 two-bedroom units in excellent condition. 10 units leased (˜90.9% occupancy) generating steady income; 11th under remodel (new flooring) for quick market-rate re-rental—immediate upside. On >1 acre with: 18×14 storage/conference room, community room w/ kitchen & bath (potential 12th unit conversion, subj. to approvals), on-site laundry (2W/2D), 17 dedicated parking spots. Low-maintenance cash flow in quiet community. Pro forma at 90.9% occ.: rents $73, 582 + misc $8, 470 = $82, 052 gross. Expenses: known $26, 434 + 10% mgmt ($8, 205), 6% maint ($4, 923), 5% contract (snow/lawn, $4, 103) = $43, 665 total; NOI $38, 387; 8.35% cap rate at $459, 900 ask. Come take a tour today.
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