615 East Street
Grinnell, IA 50112
MLS #34018742

Commercial
  • 134,165sq ft
$2,400,000
Est. P&I payment: $9166.37/mo
615 East Street, Grinnell, IA 50112
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Description for 615 East Street, Grinnell, IA 50112
Huge investment potential! 6 apartment buildings with 43 2 bedroom units, 6 1 bedroom units, 28 garage units, 2 commercial retail/office units. 615, 627 & 631 East St, 616 & 628 High St, 1109 & 1115 West St. Very low vacancy. Average rent of about $575.00 for the 2 bedroom units, $425.00 for the one bedroom units, $50.00 for the one stall garages, Most of the units have been greatly renovated and improved. After much hard work and a lot of capital, these properties have been transformed into some of the nicest apartment rentals in Grinnell. Representing a large fraction of Grinnell's rental marketshare, and in their current condition, these remarkable properties will be able to produce generous income for many years to come. Don't miss out on the opportunity of these proven and producing income properties. Owner of this property currently has an inactive IA real estate license.
MLS #34018742
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My Notes for MLS #34018742

General Features

  • Acres: 3.08
  • Area: Central
  • Foundation: Other/See Remarks
  • Lot Dimensions: Multiple Parcels
  • Potential Use: Other/See Remarks,​Office,​Professional,​Retail
  • Parking: Garage
  • Roof: Metal,​Asphalt
  • Improved Structure: Multiple Buildings
  • Wiring: 400 or More
  • Zoning: Commercial
  • # Of Stories: 2
  • Lot Square Footage: 134,165
  • Price Per Acre: 779,220.78
  • Price Per Square Foot: 109.27
  • Property Subtype 1: Comm
  • Property Type: Commercial
  • Square Footage: 21,963
  • Year Built: 1986

Miscellaneous Features

  • Auction: N
  • Flood Zone: Status Unknown
  • Incentives: Not Applicable
  • Possession: At Closing

Interior Features

  • Ceiling Height (low): 8
  • Floors: Concrete Slab,​Carpet,​Tile,​Other/See Remarks
  • Bathrooms: 3 or More
  • Walls: Finished,​Drywall

Utility Features

  • Cooling: Window A/C
  • Heating: Radiant
  • Utilities: Sewer Connected,​Water City

Exterior Features

  • Exterior: Bric

Financial Features

    Location

     
    Street View Not Available
    Directions to 615 East Street, Grinnell, IA 50112
    From Des Moines IA Drive East on I80, From Eastern Iowa Drive West on I80, North, to Grinnell exit HWY 146. North into Grinnell. Turn right/East on 2nd Ave to High or East. Apartments are South of 2nd Ave. West St apartments are further North on 146
    The listing information for 615 East Street, Grinnell, IA 50112 was graciously provided by our friends at the listing brokerage, RE/MAX Partners Realty

    Get Financing for 615 East Street, Grinnell, IA 50112

    Hills Bank & Trust
    Andy Brandt
    1009 2nd St.
    Coralville, IA 52241
    319-358-6113 Office
    319-594-7725 Mobile
    Request Mortgage Information
    ($ or %)
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    P&I Payment $9166.37
    Request More Listing Information
    Please Note: All information in this site is deemed reliable but not guaranteed. The property information provided on EXIT Realty Hawkeye's websites is for personal, non-commercial use only and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Property information is gathered from third-party resources including the seller and public records. EXIT Realty Hawkeye, Onjax, LLC, its affiliates, owners, subsidiaries and subscribers disclaim any and all representations or warranties as to the accuracy or reliability of the information provided. You should verify all claims through personal inspection and/or contact with the appropriate real estate professionals.
    Last Updated 01/17/2018 at 3:24pm
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