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.
For sale
Price cut: $100K (8/31)
$1,650,000
611-619 Johnson St, Waterloo, IA 50702
--beds
--baths
13,171sqft
Apartment
Built in 2003
-- sqft lot
$1,593,500 Zestimate®
$125/sqft
$-- HOA
What's special
Desirable unit layoutsIn-unit laundry
- 386 days
- 180
- 10
Zillow last checked:
Listing updated:
Listed by:
Tyler Rasmussen 319-560-3543,
EPM, Iowa
Source: Northeast Iowa Regional BOR as distributed by MLS GRID,MLS#: 20254153
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: $125/sqft
- Tax assessed value: $2,027,630
- Annual tax amount: $40,527
- Date on market: 8/26/2025
- Cumulative days on market: 432 days
- Lease term: Over 9 Months
- Tenant pays: Electricity, Gas, Heat, Water
- Road surface type: Paved
Estimated market value
$1,593,500
$1.51M - $1.67M
$760/mo
Price history
| Date | Event | Price |
|---|---|---|
| 8/31/2026 | Price change | $1,650,000-5.7%$125/sqft |
Source:  Northeast Iowa Regional BOR as distributed by MLS GRID #20254153 Report a problem | ||
| 7/27/2026 | Price change | $1,750,000-2.8%$133/sqft |
Source: Northeast Iowa Regional BOR as distributed by MLS GRID #20254153 Report a problem | ||
| 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
Explore the cost of this home by adjusting the details. Changes won't be saved.Climate risks
Neighborhood: 50702
Nearby schools
Schools provided by the listing agent
- Elementary: Irving Elementary
- Middle: Central MS - Waterloo CSD
- 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.
