2936 E Walnut Street

Here’s a great opportunity to own a 5-unit property just steps from the Iowa State Fairgrounds — a setup that doesn’t come along often. You’ll find a 4-plex plus a detached single-family home on one lot, giving you multiple income streams and plenty of flexibility. The property currently brings in $3,750/month in rent (units at $650, $650, $650, $850, and $950). The two upstairs units are long-term tenants, while the others offer room for rent increases or improvements over time. The landlord currently pays all utilities, providing a value-add opportunity for a new owner to transition to tenant-paid utilities and boost cash flow. There’s also tons of off-street parking, including extra income during the State Fair when parking demand goes up. If you’ve been looking for an affordable multifamily property with strong numbers and even stronger potential, this is it.