206 E Hempstead Avenue, Fairfield, Iowa

Description

Four-Unit Multifamily Investment Opportunity This one-of-a-kind four-family conversion offers an excellent opportunity for investors looking for an established rental property with strong income potential. Thoughtfully converted into four separate units, the property offers a functional layout and a unique investment opportunity. Each of the four units features 2 bedrooms and 1 bathroom, with shared laundry conveniently located in the common area. All four units are occupied and current monthly rents: - Unit A: $1,065/month - Unit B: $1,025/month - Unit C: $1,225/month - Unit D: $850/month Landlord currently pays the utilities. Recent exterior improvements include a new metal roof and gutters on the north portion of the building in 2024 and new vinyl siding installed in 2022. The property also includes a small garage and outdoor garden shed, adding valuable storage and functionality. With four well managed income-producing units, recent exterior updates, and a unique conversion that offers plenty of character, this property presents an excellent opportunity for both seasoned investors and those looking to expand their rental portfolio. This property is owned by the Listing Agent.

Directions: Property is located on the corner of E Hempstead and N C St.