Investment Opportunity in Adel, IA. This 24-unit multifamily property offers a balanced mix of 12 two-bedroom units, 9 one-bedroom units, and 3 studio apartments. Each residence features a full bathroom along with essential appliances including stove, refrigerator, microwave, and dishwasher (dishwasher not included in studios). Approximately 50% of the units have been fully renovated with modern upgrades—new flooring, fresh paint, updated trim, enhanced lighting, stylish kitchen cabinetry, and updated appliances. On-site coined laundry adds convenience for residents. With its prime location and strong rental mix, this property presents an excellent opportunity for investors seeking both immediate income and long-term growth potential.
Pending
$2,200,000
2121 Greene St, Adel, IA 50003
33beds
--sqft
Est.:
Multi Family, Apartment
Built in 1984
-- sqft lot
$-- Zestimate®
$--/sqft
$-- HOA
What's special
Modern upgradesStylish kitchen cabinetryNew flooringFresh paintEnhanced lightingUpdated appliancesEssential appliances
- 12 hours |
- 14 |
- 0 |
Zillow last checked: 8 hours ago
Listing updated: 20 hours ago
Listed by:
Timothy Schutte (515)253-3948,
EXIT Realty & Associates,
Salkic-Schutte, Jasmina 319-883-6995,
EXIT Realty & Associates
Source: DMMLS,MLS#: 726452
Originating MLS: Des Moines Area Association of REALTORS
Originating MLS: Des Moines Area Association of REALTORSFacts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 33
- Bathrooms: 24
- Full bathrooms: 24
Heating
- Forced Air, Gas, Natural Gas
Cooling
- Central Air
Appliances
- Laundry: Main Level, Upper Level
Features
- Flooring: Carpet
Property
Details
- Parcel number: 00000
- Zoning: Multi
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Multi Family, Apartment
Materials
- Brick, Vinyl Siding
- Foundation: Poured, Slab
- Roof: Asphalt,Shingle
Condition
- Year built: 1984
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
- Utilities for property: Electricity Available, Natural Gas Available, Water Available
Community & HOA
Community
- Security: Smoke Detector(s)
HOA
- Has HOA: No
- Services included: Insurance, Maintenance Structure, Taxes, Trash, Snow Removal
- HOA name: Cap City Prop Management
- HOA phone: 515-650-2637
Location
- Region: Adel
Financial & listing details
- Annual tax amount: $26,550
- Date on market: 9/17/2025
- Cumulative days on market: 108 days
- Listing terms: Cash,Conventional
- Tenant pays: Electricity, Gas
- Electric utility on property: Yes
- Road surface type: Concrete
Estimated market value
Not available
Estimated sales range
Not available
Not available
Price history
Price history
| Date | Event | Price |
|---|---|---|
| 1/7/2026 | Pending sale | $2,200,000 |
Source:  DMMLS #726452 Report a problem | ||
| 9/17/2025 | Listed for sale | $2,200,000+25% |
Source: DMMLS #726452 Report a problem | ||
| 4/30/2024 | Sold | $1,760,000 |
Source: DMMLS #710113 Report a problem | ||
Public tax history
Public tax history
Tax history is unavailable.BuyAbility℠ payment
Est. payment
$11,813/mo
Principal & interest
$8531
Property taxes
$2512
Home insurance
$770
Climate risks
Neighborhood: 50003
Nearby schools
GreatSchools rating
- NAAdel Elementary SchoolGrades: PK-1Distance: 0.7 mi
- 7/10Adm Middle SchoolGrades: 7-8Distance: 1.1 mi
- 10/10Adm Senior High SchoolGrades: 9-12Distance: 1.1 mi
Schools provided by the listing agent
- District: Adel-Desoto-Minburn
Source: DMMLS. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
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