1438 5th Ave N, Fort Dodge, IA 50501

Property Description

Fully Occupied Fourplex – Investment Opportunity 1438 5th Avenue North, Fort Dodge, Iowa Offered at $150,000 Add this fully occupied four-unit residential income property to your investment portfolio! The property currently generates $2,600 per month in gross rental income, totaling $31,200 annually, and provides immediate income for its next owner. This two-story building offers approximately 2,128 square feet and consists of four one-bedroom, one-bathroom apartments. Two units are located on the main floor, with two additional units upstairs. Each apartment has its own private entrance and includes a refrigerator and stove. The property also features off-street parking, a full basement, forced-air heating, public water and sewer, and two 40-gallon water heaters replaced in 2021 and 2023. The upstairs apartments have received previous remodeling, and the exterior was painted in 2023. All four apartments are currently occupied, and the landlord pays all utilities. At the $150,000 asking price, the property’s annual gross rental income equals approximately 20.8% of the purchase price before utilities and other operating expenses. Please allow appropriate notice for showings and do not disturb the tenants. Property is owned by an entity in which the listing agent has an ownership interest. All information is believed reliable but is not guaranteed. Buyers and buyers’ agents should independently verify rental income, expenses, measurements, zoning, and all other info.