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21 W 1ST ST, Spencer, IA 51301

Spencer
Local realty services provided by:CENTURY 21 Signature Real Estate
21 W 1ST ST,Spencer, IA 51301
$175,000
  • - Beds
  • - Baths
  • 4,308 sq. ft.
  • Multi-family
  • Active
Listed by: nic madsen
Office: gateway real estate advisors
MLS#:831915
Source:IA_GSCBOR

Price summary

  • Price:$175,000
  • Price per sq. ft.:$40.62

About this home

21 W 1st Street | Spencer, IA Value-add opportunity in Spencer! This 6-plex offers strong upside for an investor ready to complete renovations and increase cash flow. The property has been partially remodeled, with 2 of the 6 units currently rented, providing immediate income. The remaining 4 units offer the ability to renovate, lease up, and significantly improve overall returns. With improvements already underway, much of the heavy lifting has been started, allowing the next owner to step in and finish the project. Conveniently located near downtown Spencer amenities, this is a prime opportunity for investors looking to build equity and increase long-term cash flow.

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Home facts

  • Year built:1949
  • Listing ID #:831915
  • Added:142 day(s) ago
  • Updated:July 11, 2026 at 07:18 PM

Rooms and interior

  • Living area:4,308 sq. ft.

Heating and cooling

  • Cooling:Window Unit
  • Heating:Baseboard

Structure and exterior

  • Year built:1949
  • Building area:4,308 sq. ft.
  • Lot area:0.12 Acres
  • Lot Features:Fixer Upper

Utilities

  • Water:City
  • Sewer:City

Finances and disclosures

  • Price:$175,000
  • Price per sq. ft.:$40.62
  • Tax amount:$3,989

Parking

  • Garage spaces:1

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