328 E Main Street, Ottumwa, IA 52501
Local realty services provided by:CENTURY 21 Property Professionals
328 E Main Street,Ottumwa, IA 52501
$335,000
- 2 Beds
- 1 Baths
- 2,640 sq. ft.
- Single family
- Active
Listed by: trisha rea
Office: bridge city realty
MLS#:6336940
Source:IA_HIMLS
Price summary
- Price:$335,000
- Price per sq. ft.:$126.89
About this home
A rare opportunity to acquire a fully operational, income-generating mixed-use property in the heart of downtown Ottumwa. This handsome, historic, two-story brick building, offers immediate revenue from both floors and the kind of downtown presence that takes a long time to establish. The first floor is configured as a working retail and bar/eatery space, currently home to two established local businesses with a loyal customer base and a recognized brand. The space is flexible, rent-ready, and suited to a wide range of commercial uses — retail, food and beverage, professional services, or creative enterprise. New ownership can continue existing operations, welcome a new commercial tenant, or reimagine the space entirely. The second floor is a comfortable two-bedroom, one-bathroom, walk-up apartment currently generating income as a licensed short-term rental with verified SuperHost status on Airbnb — a designation that reflects documented guest demand and operational excellence and transfers significant value to a new owner. The apartment converts readily to a long-term residential lease, with realistic monthly rental income for a qualified tenant. Additional upside includes the potential to add a rear deck overlooking the Des Moines River, enhancing the property's appeal for both commercial and residential occupants. Combined annual gross income potential from both floors nears $40,000 in passive rent alone. This is a property that works from day one....
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Home facts
- Year built:1880
- Listing ID #:6336940
- Added:67 day(s) ago
- Updated:June 10, 2026 at 03:33 PM
Rooms and interior
- Bedrooms:2
- Total bathrooms:1
- Full bathrooms:1
- Basement:Yes
- Living area:2,640 sq. ft.
Heating and cooling
- Central air:Yes
Structure and exterior
- Year built:1880
- Building area:2,640 sq. ft.
- Lot area:0.07 Acres
Finances and disclosures
- Price:$335,000
- Price per sq. ft.:$126.89
- Tax amount:$3,830 (2024)
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