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$575,000

10 hours ago

102 S Main St, Leon, IA

Condo

28 Bed

0 Bath

15651 sqft

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MLS® 734599

  • Key Facts
  • Description
  • Map

Key Facts

Type Apartment
Levels Residential Income
Size 15651 sqft
Garage Yes
HOA Fees 
Taxes $5,902
Days Active 0
Approx. Age 1920
Avg. Price Per Sqft $36
MLS® Number 734599

Property Address: 102 S Main St, Leon, IA, 50144-1466

Average square foot calculated using Size range provided by listing agent.

Description

Located prominently on Main Street in the heart of Leon, this three-story, 24-unit apartment building presents a rare value-add opportunity in a supply-constrained small-town market. The property features a strong unit mix of 3 studios, 15 one-bedroom/one-bath units, 5 two-bedroom/one-bath units, and 1 three-bedroom unit, supporting broad rental demand and long-term stability. With both in-place income and operational flexibility, a new owner has the ability to thoughtfully renovate, reposition, and increase rents through strategic improvements. Communities like Leon often experience consistent rental demand due to limited multifamily inventory, making well-managed apartment buildings an attractive and essential housing option. Interior updates such as flooring, paint, fixtures, and kitchen and bath enhancements offer clear upside potential to elevate overall performance and asset value. Additional features include four garages for added income potential and shared on-site laundry. Multifamily assets of this scale rarely become available in smaller Midwest markets, making this a compelling opportunity for investors seeking cash flow, growth, and long-term appreciation. Shown by appointment only.
MLS® Number734599
Locker
Ensuite LaundryNo
Balcony
Furnished
Laundry LevelMain Level, Upper Level
Exposure
Exterior
GarageYes
Approx. Age1920
Stories
Pets

Included in Maintenance Fee

Heat
Hydro
Water
Building Insurance
Condo Taxes
Cable TV
Central Air
Parking Maintenance

Utilities

Heat
A/C
Heating Fuel

Extras

Price History

-End Date
Not Sold YetSold Price

For Sale

Feb 17, 2026List Date
$575,000List Price
  • Commute

Commute

Starting Address
Destination Address
102 S Main St, Leon, IA

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