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2212 Okoboji Ave
Milford, IA 51351

$1,100,000 USD

Multifamily For Sale  •  8,882 SF

Property Details

  • Property Type Multifamily
  • Total Building Size 8,882 SF
  • Lot Size 0.44 AC
  • Year Built 1947
0 Transit Score
40 Walk Score

Description

Positioned along Highway 71, this income-producing property presents an exceptional value opportunity with built-in visibility and proven performance. Recently divided, this offering includes exclusively the multifamily apartment portion. The property features 10 fully occupied apartment units backed by a strong and consistent rental history, delivering immediate, dependable cash flow. In addition, 7 furnished dorm-style rooms provide flexible income potential through short-term or extended-stay rentals, creating multiple revenue streams within one investment. With stabilized occupancy, high-exposure location, and room for continued income growth, this multifamily asset offers an attractive combination of stability, flexibility, and long-term upside—making it a smart addition to any investment portfolio.

Highlights

Substantial updates since 2019, including a new roof, windows, doors, siding, water main, electric, plumbing, new common kitchen, HVAC, landscaping
Two of the apartments were added in 2023
Common spaces, hallways, dorms, bathrooms and several apartments have been updated
Strong, consistent rental history

Amenities

  • Air Conditioning
  • Laundry Facilities
  • Microwave
  • Heating
  • Furnished Units Available
  • Refrigerator
  • Oven
  • Yard
  • Multi Use Room
  • Private Bathroom
  • Smoke Detector
Katie Slater 712-320-0887 NextHome At The Lakes
Katie Slater 712-320-0887 NextHome At The Lakes