615 East Street, Grinnell • $2,400,000

Courtesy of MLS Reciprocity:
Matthew Karjalahti
RE/MAX Partners Realty
Property Information
MLS Number: 34018742
Address: 615 East Street, Grinnell
Price: $2,400,000.00
Lot Size: 3.08 Acres
Lot Dimensions: Multiple Parcels
Status: Active
For Lease: No
Property Description
Huge investment potential! 6 apartment buildings with 43 2 bedroom units, 6 1 bedroom units, 28 garage units, 2 commercial retail/office units. 615, 627 & 631 East St, 616 & 628 High St, 1109 & 1115 West St. Very low vacancy. Average rent of about $575.00 for the 2 bedroom units, $425.00 for the one bedroom units, $50.00 for the one stall garages, Most of the units have been greatly renovated and improved. After much hard work and a lot of capital, these properties have been transformed into some of the nicest apartment rentals in Grinnell. Representing a large fraction of Grinnell's rental marketshare, and in their current condition, these remarkable properties will be able to produce generous income for many years to come. Don't miss out on the opportunity of these proven and producing income properties. Owner of this property currently has an inactive IA real estate license.
Commercial Information
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