For sale

$1,800,000

611-619 Johnson St, Waterloo, IA 50702

--beds

--baths

13,171sqft

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Apartment

Built in 2003

-- sqft lot

$1,633,800 Zestimate^®

$137/sqft

$-- HOA

What's special

Desirable unit layoutsIn-unit laundry

This is the kind of asset every investor is looking for—24 fully occupied, low-maintenance units in a prime Waterloo location. Located at 611 & 619 Johnson Avenue, this multifamily package features two 12-unit buildings, each comprised entirely of 2 bed / 1 bath units with in-unit laundry—a key amenity that drives tenant demand and reduces turnover. Each unit is individually metered, with tenants paying electric, gas, water, and sewer. Landlord responsibility is limited to trash, lawn care, and snow removal, making this an exceptionally easy property to manage. The property also includes on-site garages, providing additional value and rental upside. These buildings are clean, simple, and operate efficiently. With strong rental history, desirable unit layouts, and minimal owner involvement, this is a high-yield, low-effort investment opportunity that would be a solid addition to any portfolio.

312 days

122

6

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Facts & features

Interior

Heating

Forced Air

Cooling

Central Air

Appliances

Laundry: In Kitchen

Features

Basement: Slab

Interior area

Total structure area: 13,171
Total interior livable area: 13,171 sqft
Finished area above ground: 4,357
Finished area below ground: 0

Property

Parking

Total spaces: 16
Parking features: Garage, On Street, Parking Space, Detached
Uncovered spaces: 16

Features

Levels: Two or More Stories

Lot

Size: 1.01 Acres
Dimensions: 300x110
Features: Corner Lot

Details

Parcel number: 891326458008
Zoning: R-4
Special conditions: Standard

Construction

Type & style

Home type: MultiFamily
Property subtype: Apartment

Materials

Vinyl Siding
Roof: Asphalt

Condition

Year built: 2003

Utilities & green energy

Sewer: Public Sewer
Water: Public
Utilities for property: Cable Paid by Individual

Community & HOA

Location

Region: Waterloo

Financial & listing details

Price per square foot: $137/sqft
Tax assessed value: $2,027,630
Annual tax amount: $40,527
Date on market: 8/26/2025
Cumulative days on market: 359 days
Lease term: Over 9 Months
Tenant pays: Electricity, Gas, Heat, Water
Road surface type: Paved

Estimated market value

$1,633,800

$1.55M - $1.72M

$678/mo

Price history

Date	Event	Price
8/26/2025	Listed for sale	$1,800,000+21.6%$137/sqft
Source: Northeast Iowa Regional BOR as distributed by MLS GRID #20254153 Report a problem
4/6/2018	Sold	$1,480,000$112/sqft
Source: Northeast Iowa Regional BOR as distributed by MLS GRID #20174116 Report a problem

Public tax history

Tax history is unavailable.

Monthly payment

Est. payment

Payment breakdown

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All calculations are estimates and provided by Zillow, Inc. for informational purposes only. Actual amounts may vary.

HOA fees may include property taxes on listings classified as Co-Ops. Contact the listing agent and/or owner for fee details.

Mortgage interest rates are dependent on a number of factors, including credit score, down payment, and repayment length. Interest rate data provided by Zillow Group Marketplace, Inc. as of 1/1/1970 from various mortgage lenders with which we have lead or other similar arrangements; the Estimated Payment is an average of those rates.

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Climate risks

Neighborhood: 50702

Getting around

67 / 100

Somewhat Walkable

28 / 100

Some Transit

57 / 100

Bikeable

Nearby schools

GreatSchools rating

3/10
Irving Elementary School
Grades: K-5Distance: 0.3 mi
1/10
Central Middle School
Grades: 6-8Distance: 2.9 mi
3/10
West High School
Grades: 9-12Distance: 1.1 mi

Schools provided by the listing agent

Elementary: Irving Elementary
Middle: Central
High: West High

Source: Northeast Iowa Regional BOR as distributed by MLS GRID. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.

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