Rare opportunity to own a fully rented 6-unit multifamily property in a prime location—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 – $700/month. Unit 7: 1 bed/1 bath – $675/month. All units are currently tenant-occupied, providing immediate cash flow for investors. A shared on-site laundry space adds convenience and generates an additional $400–$500/month in income. The property sits on a generous lot with substantial green space behind the building—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 updates—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.
Residential For Sale
2215 250th St
Washington, Iowa 52353
Information on this page deemed reliable, but not guaranteed to be accurate. Listing information was entered by the listing agent and provided by ICAAR (Iowa City Area Association of REALTORS®) MLS and CRAAR (Cedar Rapids Area Association of REALTORS®) MLS. Urban Acres claims no responsibility for any misinformation, typographical errors, or misprints displayed from the MLS sources.
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