Courtesy of: Stephen Patel, Pella Real Estate Services
(MLS# PRES)
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About 206 and 212 NW Walnut Street, Bridgewater, Iowa, 50837
This well-maintained multifamily property features a 4-unit and 6-unit brick apartment complex on a spacious 0.83-acre lot. The portfolio includes eight 2-bedroom units and two 1-bedroom units, offering stable income with a strong 10% cap rate. Recent upgrades include newer roofs, soffit, fascia, gutters, 31 new windows, and the removal of five trees for improved property aesthetics. Units have seen varying levels of renovation, ensuring minimal capital improvements for the new owner. On-site laundry currently offered free—convert to coin-operated or tenant-billed utilities to increase revenue. Value-add potential through rent increases and utility optimization makes this a smart buy for any investor looking to grow their portfolio in a quiet, stable market.
Directions:
From Greenfield, go west on Hwy 92. Take a left on North Main St. towards Bridgewater. Turn right on NW 2nd St. Apartments located on your right.
Property Information :
Listing Status: Active
Lot Size: 0.83 Acres
MLS #: 718083
Bedrooms: 18 bds
Bathrooms: 10 ba
Price: $415,000
Tax Amount: 3710
Last Modified : Jul 25 2025 4:25AM
Amenities :
Basement
Courtesy of: Stephen Patel, Pella Real Estate Services (MLS# PRES)