NOT LISTED FOR SALE

255 5th St NE Primghar, IA 51245

11 Beds
10 Baths
6,699 Sq Ft
0.8 Acres Lot

Sale Details

Date Sold: May 31, 2022

Last sale price $395,000 $59 Per Sq Ft

78 Days on Market

Highlights

  • Landscaped with Trees
  • Coin Laundry
  • Level Lot
  • Baseboard Heating

About This Home

As of May 2022

10-Unit Property.  Ranch Style.  Great Investment Opportunity. This 10-unit complex is a great opportunity.  All ten units are approximately the same size, with about 600 square feet each.  The layout of each unit is also very similar… Living: 16x11, Carpet, Entry Closet (Houses Water Heater) Kitchen: 8x7, LVP or Vinyl, Laminate Countertops Dining: 9x9, Carpet, Light Fixture, includes Fridge & Stove Bedroom 1: 12x12, Carpet, Double Closet, Ceiling Fan Bedroom 2: 12×11, Carpet, Closet Full Bathroom: 7×8, LVP or Vinyl, Tub/Shower, Vent, Linen Closet Unit 2 is a two-bedroom unit. Common Room in Building 1: could be turned into Unit 11.  21x19.  Plumbed for a sink.  Includes 3/4 Bath (8x6) There is a separate shared laundry space in the building 1 that contains a coin-operated washer/dryer.  These machines are leased with a company who maintains them and repairs them as well as collects the coins (lease is transferable). The tenants pay for their own electricity. Owner pays for Utilities: $170/mo (garbage, water/sewer, and common space electric) Insurance: $265/mo Taxes: $3644/yr Lawn/Snow Removal: $225/mo Rent Roll: $4350 (plus an additional $450/mo if the community room is turned into Unit 11) There are two different on-site parking pads available for the tenants.

Last Agent to Sell the Property

Adam Doughan

Real Broker, LLC License #S64819 Listed on: 03/14/2022

Last Buyer's Agent

Other Other

Other

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $3,644

Year Built

  • Built in 1977

Lot Details

  • 34,848 Sq Ft Lot
  • Level Lot
  • Landscaped with Trees

Parking

  • Driveway

Home Design

  • 6,699 Sq Ft Home

Utilities

  • Window Unit Cooling System
  • Baseboard Heating

Community Details

  • 10 Units
  • Coin Laundry
  • Gross Income $4,350

Listing and Financial Details

  • Assessor Parcel Number 0000199200

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$3,644

Year Built

Built in 1977

Lot Details

0.8 Acres

Listing Details

  • Property Class: Multi-Unit
  • Type: Multi-Unit
  • Property Features: Level Lot, Trees
  • Legal Description: BROCK & STEARN'S ADD LOTS 6-7-8-9 & N1/2 OF VACATED ALLEY ON S BLK 20
  • Year Built: 1977
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Total Sq Ft: 6699
  • Main Level Sq Ft: 6699

Garage/Parking

  • Driveway: Concrete
  • Off Street Parking: 10

Utilities

  • Air Conditioning Type: Window Unit
  • Fuel Type: Electric
  • Heat Type: Baseboard
  • Sewer Type: City
  • Water Type: City
  • Coin Operated Laundry: Yes

Lot Info

  • Acres: 0.8
  • Parcel Number: 0000199200
  • Zoning: Multi-Fam

Rental Info

  • Paid By Electric: Tenant
  • Paid By Gas: Owner
  • Paid By Water: Owner

Tax Info

  • Gross Taxes: 3644

Multi Family

  • Electric Separate By Unit: Yes
  • Gross Income: 4350
  • Heat Separate By Unit: Yes
  • Number Of Units: 10
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Property History

Date Event Price List to Sale Price per Sq Ft
05/31/2022 05/31/22 Sold $395,000 -16.0% $59 / Sq Ft
03/14/2022 03/14/22 For Sale $470,000 -- $70 / Sq Ft
Source: Northwest Iowa Regional Board of REALTORS®

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $5,994 $444,380 $25,870 $418,510
2024 $5,994 $395,390 $25,870 $369,520
2023 $2,376 $395,390 $25,870 $369,520
2022 $2,540 $126,490 $12,420 $114,070
2021 $2,540 $126,490 $12,420 $114,070
2020 $3,840 $168,820 $12,420 $156,400
2019 $3,774 $167,280 $0 $0
2018 $3,890 $167,280 $0 $0
2017 $1,790 $67,450 $0 $0
2016 $2,200 $67,450 $0 $0
2015 $2,200 $67,450 $0 $0
2014 $2,454 $67,450 $0 $0
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Northwest Iowa Regional Board of REALTORS®

MLS Number: 816461

Northwest Iowa Regional Board of REALTORS®

APN: 0000199200

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