1518 4Th Avenue SW Spencer, IA $ 485,000
1518 4Th Avenue SW
$ 485,000
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1518 4Th Avenue SW

Spencer, IA, 51301
$ 485,000
Bedrooms12 Baths8.0 Sq 4,704

Monthly Estimate*

$ 3,026

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Multi-Family Home for sale in Spencer, IA

for $485,000 with 12 bedrooms and 8 full baths. This 4,704 square foot home was built in 1977 on a lot size of 0.3.

Investor Opportunity on the Golf Course! Rare opportunity to own a well-maintained 4-unit multifamily complex located directly on the Spencer Municipal Golf Course. Each spacious unit features 3 bedrooms and 1.5 bathrooms, offering strong rental appeal in a beautiful and convenient location. One unit has been completely remodeled with modern finishes, while the remaining three units have received notable upgrades, including fresh paint and minor repairs—ensuring solid condition across the entire property. This income-producing property sits in a scenic setting, providing tenants with golf course views and easy access to local amenities. Whether you're expanding your portfolio or looking for a live-in investment, this is a turnkey opportunity with long-term potential. Don’t miss your chance to own a golf course-front multifamily with proven rental upside.

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Multi-Family Active

Price

$ 485,000

Bedrooms

12

Full Bath

8

Property Type

Multi-Family

Taxes

$ 5,220

Style

Quadruplex

Lot Size

0.3

Year Built

1977

Town/City

Spencer

County/Region

Clay

MLS | Web ID

251166

Features
General
Sewer Public Sewer
Heating Forced Air
Roof Asphalt
Flood Zone No
School District Spencer
Number of Units 4
Class MULTIFAMILY
Assessments No
Levels Multi/Split
Type Quadruplex
Terms Cash Conventional
Yearly Taxes 5220
Tax Year 2024
Fuel Natural Gas
Status Active
Subdivision IA
Sale/Rent For Sale
Status Detail 0
Lot Sqft 13000
Construction Materials Brick Vinyl Siding
Primary City Spencer
Year Built 1977
Directions All measurements deemed accurate but not guaranteed; buyer to verify. Units 1 & 3 have newer water heaters (last 2 yrs). All appliances stay except W/D in Unit 2 and W/D + stove in Unit 4. Tenants pa
City Spencer
Disclosures Lead Based Paint Disc Property Condition Disc
Total Sq Ft 4704
DOM 90
Secondary City Clay County
Postal Code 51301
Potential Short Sale No
Public Remarks Investor Opportunity on the Golf Course! Rare opportunity to own a well-maintained 4-unit multifamily complex located directly on the Spencer Municipal Golf Course. Each spacious unit features 3 bed
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Exterior
Exterior Features Deck Driveway-Concrete Driveway-Gravel
Lot Features On Golf Course
Waterfront 0
Garage Type Attached
Lot Size Source Assessor
Water Source Public/City
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Interior
Furnished Y/N No
Fireplace 0
Total Baths 8
Basement Features Finished-Partial
Basement Style Partial
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* Excluded Features
List By
Shelly Lohman

Listing Agent

Exit Realty Midwest- Spencer/Emmetsburg

Broker

(712) 260-8665

Phone

shelly@exitrealtymidwest.com

Email

Affordability Calculator

$3,461
Per Month
87%
13%
0%
Monthly Principal & Interest
$3,026
Monthly Property Taxes
$435
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 6.375% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
1883250 Elementary School
1883270 Middle School
Unknown High School High School
Pricing History
DatePricePrice ChangeDescription
10/8/2025$485,000 -2.90% Price Down
9/9/2025$499,500 Listed Price

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1518 4Th Avenue SW, Spencer, IA, 51301 is a Multi-Family Home for sale at $485,000 with 4,704 sqft and a lot size of 0.3. 1518 4Th Avenue SW has 12 bedrooms, 8.0 baths, and was built in 1977. The property's zip code is 51301 which is in Spencer, IA