Welcome to this fantastic investment opportunity in the charming town of Red Oak, Iowa! This 11 unit apartment building offers a unique chance for value-add potential with room to increase rents and implement Ratio Utility Billing System (RUBS). The property also features a small office space that can be utilized for leasing or rented out for additional income. Potential historic tax credit opportunity as well.Electric is separately metered. Owner pays water and gas. Property has a mixture of furnace, electric baseboard heaters, and a boiler that was install in 2023 in the basement. Building includes appliances, washer & dryers.Agent has equity.
Pending
Price cut: $4K (2/13)
$395,000
400 E Coolbaugh St, Red Oak, IA 51566
--beds
15,000sqft
Est.:
Apartment
Built in 1902
-- sqft lot
$-- Zestimate®
$26/sqft
$-- HOA
What's special
- 80 days
- on Zillow |
- 256 |
- 10 |
Zillow last checked: 7 hours ago
Listing updated: April 11, 2025 at 12:58am
Listed by:
20060210204436317691000000
Source: SWIAR,MLS#: 25-192
Travel times
Facts & features
Interior
Bedrooms & bathrooms
- Bathrooms: 10
- 1/2 bathrooms: 1
Heating
- Natural Gas, Steam, Hot Water
Cooling
- Window Unit(s)
Appliances
- Included: Dryer, Washer, Refrigerator
- Laundry: Common Area
Features
- Storage
Interior area
- Total structure area: 15,000
- Total interior livable area: 15,000 sqft
Property
Parking
- Parking features: See Remarks
Features
- Levels: Three Or More
- Stories: 3
Lot
- Size: 5,227.2 Square Feet
- Dimensions: .12 acres
Details
- Parcel number: 600628326001000
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Apartment
Materials
- Brick
- Roof: Flat
Condition
- Year built: 1902
Community & HOA
Location
- Region: Red Oak
Financial & listing details
- Price per square foot: $26/sqft
- Annual tax amount: $8,310
- Date on market: 2/5/2025
- Listing terms: Cash,Conventional
- Tenant pays: Electricity
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