401 Central Ave SW Le Mars, IA 51031
Estimated payment $2,346/month
Highlights
- 1 Car Detached Garage
- Forced Air Heating and Cooling System
- 5-minute walk to Foster Park
- Landscaped with Trees
- Level Lot
About This Home
Rare investment opportunity in the heart of Le Mars! This remodeled 3-story property features three spacious apartments, plus a unique detached home, with an attached garage. Both units and detached home are fully updated and leased. Major improvements include: a new roof in 2025, modern kitchens and baths, in-unit laundry, a fire suppression system, and separate utilities – which keeps landlord expenses low. Each unit offers 3 bedrooms with generous layouts. While the detached home offers vaulted ceilings and a loft bedroom – giving strong tenant appeal across the board. With four income-producing units, stable tenancy, and low operating overhead, this property delivers consistent cash flow and low-term value. Rent values are competitive for the market, with room for future growth.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $3,942
Year Built
- Built in 1901
Lot Details
- 0.34 Acre Lot
- Stone Retaining Walls
- Level Lot
- Landscaped with Trees
Parking
- 1 Car Detached Garage
Home Design
- 4,350 Sq Ft Home
Schools
- Lemars Elementary And Middle School
- Lemars High School
Utilities
- Forced Air Heating and Cooling System
- Internet Available
Community Details
- 4 Units
- Gross Income $49,500
Listing and Financial Details
- Assessor Parcel Number 19149-12-16-182-007
Map
Home Values in the Area
Average Home Value in this Area
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 |
|---|---|---|---|---|
| 2024 | $3,304 | $289,540 | $43,150 | $246,390 |
| 2023 | $3,122 | $258,290 | $33,840 | $224,450 |
| 2022 | $3,640 | $211,040 | $33,840 | $177,200 |
| 2021 | $3,440 | $211,040 | $33,840 | $177,200 |
| 2020 | $3,440 | $186,870 | $33,840 | $153,030 |
| 2019 | -- | $186,870 | $33,840 | $153,030 |
| 2018 | -- | $186,870 | $33,840 | $153,030 |
| 2017 | -- | $247,010 | $0 | $0 |
| 2016 | -- | $247,010 | $0 | $0 |
| 2015 | -- | $224,840 | $0 | $0 |
| 2014 | -- | $0 | $0 | $0 |
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 08/28/2025 08/28/25 | For Sale | $375,000 | -- | $86 / Sq Ft |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | -- | None Available |
Source: Northwest Iowa Regional Board of REALTORS®
MLS Number: 830098
APN: 12-16-182-007
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
Information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Listing information is deemed reliable, but not guaranteed.
- 321 Central Ave SW
- 520 Central Ave SE
- 321 2nd Ave SE
- 603 2nd Ave SE
- 212 6th St SW
- 221 3rd Ave SE
- 508 3rd Ave SE
- 926 Central Ave SE
- 307 9th St SE
- 626 3rd St SW
- 114 3rd Ave NW
- 811 3rd St SE
- 10 7th Ave SE
- 1240 Central Ave SE
- 673 N Lynn Dr
- 1225 3rd Ave SW
- 808 Plymouth St SE
- 1239 2nd Ave SW
- 114 9th Ave SE
- 858 Ann Ave
- 1140 Adler Dr
- 625 Beck Ave
- 3800 Glen Oaks Blvd
- 4201 Denice Ct
- 2300 Indian Hills Dr
- 3634 Glen Oaks Blvd
- 3900-3937 Winona Way
- 1800 Indian Hills Dr
- 125 Main St Unit 125.5
- 235 Main St Unit 1
- 2931 Chambers St
- 2951 Park Ave
- 55 W Clifton Ave
- 1331 S Maple St
- 1220 4th St
- 520 Nebraska St
- 705 Douglas St
- 2908 Jay Ave
- 700 S Linn St
- 609-615 Pearl St