2215 250th St, Washington, IA 52353

Rare opportunity to own a fully rented 6-unit multifamily property in a prime location—directly behind the Washington County Fairgrounds! Built in 1952 with 4,189 total square feet, this apartment complex includes six units (numbered 2 through 7) featuring a mix of 1- and 2-bedroom layouts. Unit 2: 2 bed/1 bath. Unit 3: 2 bed/2 bath. Units 4 & 5: 1 bed/1 bath. Unit 6: 2 bed/1 bath, no living room – $725/month. Unit 7: 1 bed/1 bath – $700/month. All units are currently tenant-occupied on month-to-month leases, providing immediate cash flow for investors. A shared on-site laundry space adds convenience and generates an additional $400–$500/month in income. The property sits on a generous lot with substantial green space behind the building—offering tenant appeal and possible future development options. While the property is fully functional and income-producing, it offers significant potential for value-add improvements and cosmetic updates—making it an ideal opportunity for investors … read more …