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Bridgewater, IA 50837 206 and 212 NW Walnut Street
$415,000
7 more
Presented By: Pella Real Estate Services
- MLS# 718083
- 05/15/2025
Beds • 18
Baths • 10
Home Details
This well-maintained multifamily property features a 4-unit and 6-unit brick apartment complex on a spacious 0.83-acre lot. The portfolio includes eight 2-bedroom units and two 1-bedroom units, offering stable income with a strong 10% cap rate. Recent upgrades include newer roofs, soffit, fascia, gutters, 31 new windows, and the removal of five trees for improved property aesthetics. Units have seen varying levels of renovation, ensuring minimal capital improvements for the new owner. On-site laundry currently offered free—convert to coin-operated or tenant-billed utilities to increase revenue. Value-add potential through rent increases and utility optimization makes this a smart buy for any investor looking to grow their portfolio in a quiet, stable market.
Presented By: Pella Real Estate Services
Interior Features for 206 and 212 NW Walnut Street
Bedrooms
Total Bedrooms18
Bathrooms
3/4 Baths0
Half Baths
Total Baths10
Other Interior Features
Air Conditioning Y/NYes
BasementCrawlSpace, Finished
Basement (Y/N)Yes
Below Grade Finished Area1371.0
Fireplace Y/NNo
Furnished Y/NUnfurnished
Heating Y/NYes
General for 206 and 212 NW Walnut Street
Additional Parcels Y/NNo
AppliancesBuiltInOven, Refrigerator
Attached Garage No
Carport Y/NNo
CityBridgewater
CoolingWindowUnits
CountyAdair
DirectionsFrom Greenfield, go west on Hwy 92. Take a left on North Main St. towards Bridgewater. Turn right on NW 2nd St. Apartments located on your right.
Elementary School DistrictNodaway Valley
Full Baths10
Garage Y/NNo
HOANo
HeatingBaseboard, Electric
High School DistrictNodaway Valley
Home Warranty Y/NNo
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
Legal DescriptionLOTS 1, 2, 3, 4, 5, 6, BLK. 4 O.T.
Listing TermsCash, Conventional
Lot Size UnitsAcres
MLS AreaBridgewater
Middle/Junior School DistrictNodaway Valley
MobileHomeRemainsYNNo
New ConstructionNo
Occupancy TypeTenant
OwnerPaysElectricity, Insurance, Taxes, Water
PostalCityBridgewater
Property Attached Y/NNo
Property TypeMultiFamily
Rent Control Y/NNo
RoofAsphalt, Shingle
Senior Community Y/NNo
SewerPublicSewer
Standard StatusActive
StatusActive
Tax Annual Amount3710.0
Tenant PaysElectricity
UtilitiesElectricityAvailable, WaterAvailable
ZoningMF
Exterior for 206 and 212 NW Walnut Street
Crops Included Y/NNo
Foundation DetailsBlock, Poured
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot Size Acres0.83
Lot Size Area0.83
Private PoolNo
Road Surface TypeConcrete
SpaNo
Water SourcePublic
Waterfront Y/NNo
Additional Details
Price History
Rachel Tiskevics
Realtor®