Investment Opportunity
This well-maintained, single-owner apartment complex offers an exceptional turn-key investment in a stable Iowa community. Consisting of 3 buildings totaling 7,824 square feet on a generous 0.89-acre lot, the property features 22 units -all configured as spacious 2-bedroom, 1-bathroom layouts - and enjoys 100% occupancy, delivering immediate and reliable cash flow.
Built in 1996 with solid construction, this vintage-style multi-family property provides functional and comfortable floor plans that continue to attract long-term tenants. The complex includes ample parking and outdoor space, situated in a convenient location near downtown Colfax with easy access to local amenities, schools, and major transportation routes.
Key Highlights:
22 units ? all 2 bed / 1 bath
-100% occupancy with strong rental demand
-Single-owner property (family-owned and operated)
-3 buildings totaling 7,824 sq ft on 0.89 acres
-Vintage charm with practical, well-built design
-Excellent parking and outdoor space
-Strong income-producing asset
Perfect for investors seeking a fully occupied, cash-flowing multi-family property with consistent performance. Colfax's small-town appeal combined with proximity to larger employment centers supports continued tenant stability and demand.
Serious inquiries only - contact for detailed financials, rent roll, unit photos.
All information obtained from seller and public records.
Pending
Price cut: $200K (8/17)
$1,600,000
24 N Maple St, Colfax, IA 50054
44beds
9,420sqft
Multi Family, Apartment
Built in 1996
-- sqft lot
$-- Zestimate®
$170/sqft
$-- HOA
What's special
Solid constructionAmple parkingOutdoor space
- 41 days
- 9
- 0
Zillow last checked:
Listing updated:
Listed by:
Jason Ring (515)205-1200,
RE/MAX Precision,
Chassi Prado 515-321-4830,
RE/MAX Precision
Source: DMMLS,MLS#: 741575
Originating MLS: Des Moines Area Association of REALTORS
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 44
- Bathrooms: 1
- Full bathrooms: 1
Heating
- Forced Air, Gas, Natural Gas
Cooling
- Central Air
Interior area
- Total structure area: 9,420
- Total interior livable area: 9,420 sqft
Property
Lot
- Size: 0.89 Acres
- Dimensions: 240 x 162
Details
- Parcel number: 1101337001
- Zoning: MR R3
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Multi Family, Apartment
Materials
- Vinyl Siding
- Roof: Asphalt,Shingle
Condition
- Year built: 1996
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
Community & HOA
HOA
- Has HOA: No
Location
- Region: Colfax
Financial & listing details
- Price per square foot: $170/sqft
- Annual tax amount: $25,254
- Date on market: 5/26/2026
- Cumulative days on market: 105 days
- Listing terms: Cash,Conventional
- Road surface type: Concrete
Estimated market value
Not available
Estimated sales range
Not available
Not available
Price history
| Date | Event | Price |
|---|---|---|
| 9/1/2026 | Pending sale | $1,600,000$170/sqft |
Source: | ||
| 8/17/2026 | Price change | $1,600,000-11.1%$170/sqft |
Source: | ||
| 8/6/2026 | Listed for sale | $1,800,000$191/sqft |
Source: | ||
| 7/8/2026 | Pending sale | $1,800,000$191/sqft |
Source: | ||
| 5/26/2026 | Listed for sale | $1,800,000$191/sqft |
Source: | ||
Public tax history
Tax history is unavailable.
Monthly payment
Est. payment

