1630 15th St
Rock Valley, IA 51247

Opportunity Knocks!! Here is great opportunity to start or add to your investment portfolio!! This property features a 9 Unit Apartment Complex that was remodeled approx. 20 years ago and there has been several updates over the years and has a very low vacancy rate!! There are 5 apartments located on the main level and 4 units on the upper level. There is a shared laundry facility and there is public laundromat located directly across the street! Each unit has a separate Electric furnace and a central Air unit. The owner installed new roof(Conklin Material Flat) in 2015! This complex offers plenty of parking spaces and is located near down-town Rock Valley with amenities! Why build new when you can purchase this property today and start collecting income the first day of ownership!! Contact us today to learn more or to schedule a private tour!! Opportunities to acquire rental properties like this are rare and hard to find! 9 units generating steady rental income of $7,975/Month or $95,700/year Recent updates: Seller has completed updates such as flooring & paint etc. over the years if new tenants moved in Water heaters: 4 replaced recently New flat roof in 2015 Apt 2: New air conditioner in 2024 Current Lease Agreements All are month to month EXCEPT for #5 which expires 12/01/2025 Utilities: Owner responsible for Mid-America services ( Except #2) Owner currently pays city water, garbage & sewer services Taxes/Expenses Property Taxes are $7,782 per year Utilities is $24,000 per year which includes Mid-America(Electric) and the City of Rock Valley(Water, Sewer, & Garbage) Insurance is $4,200 per year Exterior Steel Conklin Roof - new 2015 Rents: Apt 1: $850 (2 bedroom) Apt 2: $925 (2 bedroom) Apt 3: $950 (2 bedroom) Apt 4: $850 (1 bedroom) Apt 5: $800 (1 bedroom) Apt A: $850 (1 bedroom) Apt B: $850 (2 bedroom) Apt C: $850 (1 bedroom) Apt D: $950 (2 bedroom)