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206 AND 212 Nw Walnut Street

Bridgewater, IA 50837
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$395,000 $1,665/Mo
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Bed 18

Bed

Bath 10

Bath

SqFt1,371

Sqft

Acres0.83

Acre(Lot)

New Price ~ This well-maintained multifamily property features a 4-unit and 6-unit brick apartment complex on a spacious 0.83-acre lot. The portfolio includes eight 2-bedroom units and two 1-bedroom units, offering stable income with a strong 10% cap rate. Recent upgrades include newer roofs, soffit, fascia, gutters, 31 new windows, and the removal of five trees for improved property aesthetics. Units have seen varying levels of renovation, ensuring minimal capital improvements for the new owner. On-site laundry currently offered free—convert to coin-operated or tenant-billed utilities to increase revenue. Value-add potential through rent increases and utility optimization makes this a smart buy for any investor looking to grow their portfolio in a quiet, stable market.

Detail Ic Property Details

Property Type : Residential Income

Price : $395,000

AD Id : 64713221

MLS Id : 718083

Beds : 18

Lot Size : 0.83 Acre

Living Area Size : 1,371

Year Built : --

County : Adair

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Feature Features

  • Bedroom Information

    Total beds: 18

    Bathroom Information

    Total Baths: 10 Full Baths: 10

    Room Information

    Has Basement: Yes Basement: Crawl Space, Finished

  • Roofing Information

    Asphalt, Shingle

  • Interior Features

    Roof: Asphalt, Shingle Appliances: Oven, Refrigerator

  • Heating & Cooling

    Has Heating: Yes Heating: Baseboard, Electric Has Cooling: Yes Cooling: Window Unit(s)

  • Lot Information

    Main Square Feet: 0.83 Acres Lot Size Acres: 0.83

  • Listing Price Information

    Listing Price: $395000 Original Price: $415000 Cash, Conventional

  • Tax Information

    Parcel Number: 0932453002 Annual Tax: $3710 Tax Legal Desc: LOTS 1,2,3,4,5,6, BLK. 4 O.T.

  • Utility Information

    Electricity Available, Water Available

  • Location Information

    Direction: From Greenfield, go west on Hwy 92. Take a left on North Main St. towards Bridgewater. Turn right on NW 2nd St. Apartments located on your right. WaterSource: Public
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The data relating to real estate for sale on this website comes in part from the Internet Data Exchange of the Des Moines Area Association of REALTORS®. IDX information is provided exclusively 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. Information deemed reliable but not guaranteed. Copyright © 2026 Des Moines Area Association of REALTORS®. All Rights Reserved.

ByOwner last updated this listing 06/20/2026 @ 23:04

MLS: 718083 LISTED BY: Stephen Patel, Pella Real Estate Services 641-628-1289 SOURCE: Des Moines Area Association of REALTORS

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