111 E 9th St, Madrid, IA 50156 Homes for Sale

For Sale

$139,900

• 0 beds
• 3 baths
• 2049 Sq Ft

111 E 9th Street,
Madrid, IA, 50156

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Overview

Listing Status Active Und

MLS 694100

Property Type

Other

Year built

1885

Total rooms

0

Lot size

0.2 Acres

Time on NeighborWho

26 days

Stories

-

Price per Sq Ft

$68

Parking

0e0 car garage

Basement

-

About 111 E 9th Street, Madrid, IA

Discover the potential of this 3-plex multi-family property in the heart of Madrid. This property sits on a sizable double lot and requires some TLC but has a ton of potential! This property is being sold "As Is. It is perfect for savvy investors or those looking to expand their rental portfolio. This 2-story property features a total of 3 units,... with 2 units on the main floor and 1 unit occupying the upper level. Each unit has 1 bedroom and 1 bath. Additionally, one of the lower-level units has a non-conforming bedroom/flex space providing additional square footage. Included in this sale is a. .23 acre lot to the north of the property, providing additional space for potential expansion or development projects. This valuable addition enhances the property's long-term investment appeal. A standout opportunity lies in the potential to increase rent rates, as they have remained the same for many years. This presents a clear pathway to boosting rental income and maximizing the property's profitability, making it an attractive proposition for investors seeking solid returns. Whether you're a seasoned investor or an aspiring property owner eager to kickstart your rental portfolio, this is a great investment! Read more

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