Conway, IA Multi Residential Properties

Conway, IA Multi Residential Properties for Sale

Fairfield
$145,000
6343020 MLS
Great opportunity to live in one unit of this duplex and lease the other one for income! The upstairs 2 bed / 1 bath unit feels really spacious with a large family room featuring original wood floors, large kitchen, (laundry hook-ups in kitchen closet), and extra large primary bedroom. The lower level is all brand new! Located near Everybody's & campus, and a short walk or bike ride to the square as well. Whether you're looking for a very affordable home situation, or an investment property, you'll want to check this one out!

Fairfield

Listing courtesy of with Fairfield Real Estate
622 SW Maple Street, Ankeny
$309,900
4 Beds ⋅ 2 Baths ⋅ 749787 MLS
Solid investment opportunity in the heart of Uptown Ankeny. This side by side ranch duplex offers two bedrooms and one bath per unit, both recently remodeled and ready to perform from day one. Currently occupied at market rent with tenants paying all utilities, so the cash flow stays clean and predictable. The improvements go well beyond cosmetics. Fresh exterior paint, new stoops, newer concrete approaches, and a new sewer line mean the big ticket items are already handled, saving the next owner real money and real headaches. Location seals it. Uptown Ankeny is one of the metro's most walkable and in demand pockets, close to shops, dining, and the amenities that keep quality tenants renewing year after year. Whether you are adding to a portfolio or buying your first rental, this one checks the boxes. Schedule your showing today. All information obtained from seller and public record.

622 SW Maple Street, Ankeny

Listing courtesy of David Rodriguez with RE/MAX Precision
451 N 10th Street, Adel
$330,000
6 Beds ⋅ 2 Baths ⋅ 749688 MLS
This property is a duplex that can serve as a dynamic investment opportunity or a multi-generational home. Located within walking distance of Kinnick-Feller Riverside Park and just a few blocks from Main Street in Adel, this home has been updated and features low-maintenance exteriors. Each unit is over 1400 sq ft and has fresh LVP flooring and carpeting throughout and a large, open concept living area. The kitchen has been updated with new cabinetry and modern appliances. Each unit has three bedrooms with spacious closets and bath. The baths have been updated with new vanities, storage, and handicap accessible showers. The laundry room is complete with a washer, dryer, and utility sink. A bonus lot of 0.5 acres is included with this property, attached to the South. It has already received preapproval from the City of Adel to build two more duplex units. Additionally, the buyer is extending an opportunity to purchase the tractor, trailer and equipment seen in the photos. The units also include many handicap features, making them eligible for government-assisted rent programs. With plenty of parking and a convenient location, this property has room to expand income-earning opportunities for a new buyer.

451 N 10th Street, Adel

Listing courtesy of Adam Bugbee with Real Broker, LLC
1438 5th Ave N, Fort Dodge
$150,000
6342941 MLS
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.

1438 5th Ave N, Fort Dodge

Listing courtesy of with One Stop Realty
832 Water St, Webster City
$109,900
6342791 MLS
Great investment opportunity! This spacious two-story home has been converted into an up-and-down duplex, offering two separate living units with the potential to convert back to a single-family home. The main-level unit is accessed from the east side entrance and features two bedrooms, a large living room, formal dining room with built-in hutch, full bath, and kitchen with existing appliances included. This unit also has access to the full basement, rear entry area, and back deck. The upper-level unit is accessed through the front entrance and offers a flexible two-bedroom layout, with the option to the third bedroom as a living room. It also includes a full bath with laundry, kitchen with appliances included, and access to a walk-up attic for additional storage. Beautiful hardwood floors highlight the upper level, with hardwood believed to be under much of the main-floor carpeting. A single-car detached garage completes the property. Whether you're looking for two rental units or a home that could be converted back to single-family living, this property offers plenty of possibilities!

832 Water St, Webster City

Listing courtesy of with Abens Realty
547 SW 46th Street, Ankeny
$259,900
3 Beds ⋅ 2 Baths ⋅ 749375 MLS
NO HOA dues, no covenants, no pet or rental restrictions! 3 bedroom twin home with finished lower level has almost 1,700 finished square feet! Updates include new roof on both homes, extended concrete for spacious parking and walkways, new neutral paint throughout! Also updated stainless steel appliances, freshly stained deck, wifi thermostat, doorbell/camera, kitchen sink faucet, garbage disposal, showerhead and garage door gasket! Highlights include fully fenced backyard, open floorplan, kid/pet screen on garage exterior, laminate flooring throughout, covered front porch & tons of storage! Main floor features entry w/ side light. Living room has gas fireplace framed by windows on both sides and ceiling fan. Large kitchen features lots of cabinetry, composite sink, newer appliances and huge pantry, just off the kitchen! Good sized dining room. Mudroom has first floor laundry and pantry closet. Two good sized bedrooms and bath round out the main floor. Finished lower level has good sized family room w/ egress window, full bath and large bedroom. Perfect for a teen or roommate situation! Storage/utility room has tons of space! Fabulous neighborhood, close to parks and shopping. Easy access to downtown!

547 SW 46th Street, Ankeny

Listing courtesy of Julie Moore with RE/MAX Concepts
2040 Ave B, Council Bluffs
$205,000
26-2026 MLS
Opportunity is knocking with this duplex situated on a corner lot. Each unit offers 2 bedrooms and 1 bathroom. Electric, gas, and water are all separately metered, making utility responsibilities easier to manage. Off-street parking provides space for approximately three vehicles. With two separate units and utilities already divided, this property offers a practical setup and plenty of possibilities. Whether you are looking to add to your investment portfolio or take on your next project, there is plenty of potential here to make improvements and build value over time.

2040 Ave B, Council Bluffs

Listing courtesy of Jesse Skudler with NP Dodge Real Estate - Council Bluffs
1600 4th Ave, Council Bluffs
$460,000
26-2017 MLS
Built in 2023, this duplex features two spacious 3-bedroom units with tenants already in place. Each unit includes two private entrances, a fenced yard, a one-car garage, and heated concrete flooring throughout. This modern, low-maintenance construction makes ownership simple and efficient. Conveniently situated near shopping, restaurants, schools, and parks, this property is well-positioned to attract and retain tenants.

1600 4th Ave, Council Bluffs

Listing courtesy of Michelle L Osborne with Better Homes and Gardens Real Estate The Good Life Group
104 N 16th, Clarinda
$450,000
6342569 MLS
Garrison House — For Sale Two Ways to Acquire This Established Restaurant & Lodging Business Garrison House offers a rare opportunity to step into a proven, profitable operation in two flexible structures, depending on the buyer's goals: Option 1 — Restaurant Business Only: $150,000 Acquire the turnkey restaurant operation — including established food, beverage, retail, and catering revenue streams — while leasing the building from the seller. This path is ideal for an operator who wants to step directly into a running, profitable business without the capital outlay of real estate ownership. The restaurant alone generated $220,997 in total income and $138,716 in gross profit through August 2026, with $29,717 in net ordinary income for full-year 2025. Option 2 — Total Sale (Business + Real Estate): $450,000 For a buyer looking to own both the operation and the property outright, the complete package includes the restaurant business, the building, and the integrated lodging operation (B&B and Airbnb income). This structure offers full control — no landlord relationship, direct ownership of the real estate, and the ability to capture both restaurant and lodging income streams (combined 2025 revenue of $276,487) under one roof. Why This Flexibility Matters Whether you're an operator looking to grow into ownership over time, or an investor seeking a full turnkey acquisition, Garrison House's dual-option structure lets you choose the path that fits your capital position and l

104 N 16th, Clarinda

Listing courtesy of with Thomas Realty
3905 8th Street, Des Moines
$164,900
2 Beds ⋅ 2 Baths ⋅ 749021 MLS
Invest in this versatile Highland Park duplex, perfect for an owner-occupant or an investor. Each unit features one bedroom and one bathroom, and the property comes with a rental certificate issued this year. Located near schools, and bus routes, it also includes off-street parking. With one unit currently occupied and the other vacant, it's move in or rental ready.

3905 8th Street, Des Moines

Listing courtesy of Amanda Welch with LPT Realty, LLC
339 Scott St, Council Bluffs
$167,500
26-1980 MLS
This built-as four-plex offers great income from day one and huge upside potential as well! The building features four efficiency apartments, two on each floor. Each unit is separately metered for gas and electricity, and all four of the four units are currently occupied with tenants paying $700/month! Currently the tenants are responsible to pay their own electricity, Landlord pays gas, water & trash. There is some deferred maintenance on the property, and the units certainly show their age, but for a savvy investor with some renovation know-how this property presents a fantastic opportunity to invest in some improvements and really make the property cash flow! The building is sold as-is.

339 Scott St, Council Bluffs

Listing courtesy of Mark Hanwright with Heartland Properties
1113 Broadway Street, Pella
$449,900
5 Beds ⋅ 4 Baths ⋅ 748847 MLS
Prime Pella Location | Duplex Across from Lincoln Elementary Great opportunity to own a low-maintenance, purpose-built duplex in a fantastic Pella location! Situated directly across from Lincoln Elementary and just a few blocks from downtown, this property offers convenience, flexibility, and investment potential. The duplex features a 3-bedroom, 1.5-bath unit and a 2-bedroom, 2-bath unit. Perfect for investors or house hackers, you can live in one unit while renting the other to help offset your housing costs, or rent both units for an income-producing investment. A desirable location, two well-sized units, and low-maintenance ownership make this a great opportunity in Pella.

1113 Broadway Street, Pella

Listing courtesy of Austin Steenhoek with Century 21 Signature
1146 N Elm St, Ottumwa
$133,000
6342392 MLS
Looking for your next income-producing investment? This 2-story duplex offers two HUGE units and a rental history that makes it worth a closer look! The property has historically generated $1,600 per month in rental income, making it an opportunity for investors looking to add cash flow to their portfolio. Each unit features 2 bedrooms, a living room, kitchen, and full bath, with exceptionally large rooms that give tenants plenty of space to spread out. The upper unit is currently vacant after the previous tenants moved out of Ottumwa. The owner intentionally left it vacant while the property is listed to make showings easier. Otherwise, the property has historically rented easily, giving the next owner the opportunity to market the vacant unit and work toward restoring the property's full rental income. The property also includes a good-sized yard and a large carport for convenient off-street parking. Tenants pay their own gas and electric, while the owner pays water. Whether you're building your rental portfolio, looking for your next cash-flow opportunity, or considering living in one unit while collecting rent from the other, this duplex offers plenty of potential. Two oversized units, a history of rental demand, and $1,600 per month in historical rental income make this one worth running the numbers on! One of the owners is a licensed real estate agent in the State of Iowa.

1146 N Elm St, Ottumwa

Listing courtesy of with Ottumwa Realty
1209 14th Ave, Eldora
$189,900
6342387 MLS
Once in a lifetime opportunity to own a landmark piece of history right on the main street square in Eldora. The historic Carnegie building stands as a cherished part of the community’s story, offering a rare chance to preserve its legacy while bringing your own vision to life. Whether you dream of continuing a successful restaurant or creating a new destination business, this remarkable property is ready for its next chapter. Featuring over 4,400 square feet between the main level and basement, the building blends timeless character with practical function. Inside, you’ll find soaring ceilings, large windows that fill each room with natural light, multiple dining areas, a bar, an equipped kitchen, four bathroom stalls, and two original wood-burning fireplaces that reflect the craftsmanship and charm of a bygone era. Thoughtful updates throughout make the property operable, move-in ready, and prepared for immediate use. Step into a building rich with history, possibility, and purpose. Bring your business, your creativity, and your passion—and become part of the continuing story of one of Eldora’s most treasured historic spaces. *Kitchen equipment and furnishings are included with the listing; please ask your agent for a detailed list of included and excluded items. Immediate possession is available mid October.

1209 14th Ave, Eldora

Listing courtesy of with Oakridge Real Estate
5802 & 5806 NE 3rd Street, Des Moines
$295,000
4 Beds ⋅ 2 Baths ⋅ 748548 MLS
INVESTMENT OPPORTUNITY! Whether you're looking to grow your real estate portfolio or take the first step toward building one, this 2-bedroom, 1-bathroom duplex offers an exciting opportunity! Each unit features a comfortable layout flowing from the living area into the dining space and kitchen, complete with a convenient pantry for additional storage. Step outside to enjoy a quiet backyard—an inviting bonus for residents and a great feature for attracting tenants. Conveniently located with quick access to the interstate, making commuting and getting around a breeze. Add this versatile property to your investment strategy and start building toward your real estate goals!

5802 & 5806 NE 3rd Street, Des Moines

Listing courtesy of Lacie Sibley with Boutique Real Estate
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Conway, Iowa Multi Residential Properties

Discover the charm of small-town living with multi-residential properties for sale in Conway, Iowa! Imagine owning an investment property or finding the perfect place to house extended family in this welcoming community. Conway offers a peaceful retreat from the hustle and bustle, while still being conveniently located near larger towns and cities. Explore the possibilities of owning multi-family real estate in a town where neighbors know each other and the pace of life is just a little bit slower.

Investing in multi residential properties for sale in Conway, Iowa, is a chance to be part of a close-knit community and contribute to its vibrant future. Whether you're seeking a lucrative rental income stream or a spacious property to accommodate multiple households, Conway presents unique opportunities for the savvy investor or homeowner. Find your dream property amidst the rolling hills and friendly faces of Conway, and experience the joys of owning real estate in a truly special place.

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