Calling all investors and people with vision, this unique property has many uses and potential. Located on the SW side of Oelwein in a residential neighborhood it is currently being used as a small church. There are two buildings included and 2 city lots. The larger building is over 1,300 sqft with a full walkout finished basement. It has 2 half bathrooms. There is a kitchen in the basement. With a little remodeling, this could make a great home, Air BnB, rental unit or keep it commercial as a church, office, salon, photography studio or community event center. With a ramp and parking, it is set up to cater to many businesses. This property also includes an additional 850 sqft building that has a 1/2 bathroom and 2 larger rooms. You could have 2 rentals on one property or 2 Air BnBs... maybe live in one and rent out the second unit to make your payment. Again, endless possibilities. This is being sold by the Church and will be sold in its "as is" condition. However there are no known major issues.
Sold
$59,000
723 1st St SW, Oelwein, IA 50662
2beds
3,150sqft
Single Family Residence
Built in 1900
0.56 Acres lot
$59,200 Zestimate®
$19/sqft
$-- HOA
What's special
Zillow last checked: 7 hours ago
Listing updated: April 02, 2025 at 04:04am
Listed by:
Emily J Koch 563-422-7274,
Koch Real Estate,
Spencer Koch 563-380-5855,
Koch Real Estate
Bought with:
Heather Federspiel
Wapsie Realty LLC
Source: Northeast Iowa Regional BOR,MLS#: 20250876

Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 2
- Bathrooms: 3
- 1/2 bathrooms: 3
Heating
- Forced Air
Cooling
- Window Unit(s)
Appliances
- Included: Cooktop, Free-Standing Range, Gas Water Heater
Features
- Basement: Block,Floor Drain,Partially Unfinished
- Has fireplace: No
- Fireplace features: None
Interior area
- Total interior livable area: 3,150 sqft
- Finished area below ground: 1,000
Property
Parking
- Parking features: None
Accessibility
- Accessibility features: Handicap Access
Features
- Exterior features: Garden
Lot
- Size: 0.56 Acres
- Dimensions: 150 x 163
- Features: Corner Lot, Level
Details
- Additional structures: Storage
- Has additional parcels: Yes
- Parcel number: 1820428007
- Zoning: R-2
- Special conditions: Standard
- Other equipment: Sump Pump
Construction
Type & style
- Home type: SingleFamily
- Architectural style: Bungalow
- Property subtype: Single Family Residence
Materials
- Vinyl Siding
- Roof: Shingle
Condition
- Year built: 1900
Community & neighborhood
Security
- Security features: Smoke Detector(s)
Location
- Region: Oelwein
Other
Other facts
- Road surface type: Crushed Rock, Hard Surface Road
Services availability

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