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102 S Frederick Ave
Oelwein, IA 50662
Mealey Apartments · Multifamily Property For Sale
·
33 Units
PROPERTY FACTS
| No. Units | 33 | Lot Size | 0.32 AC |
| Property Type | Multifamily | Building Size | 34,808 SF |
| Property Subtype | Apartment | No. Stories | 4 |
| Apartment Style | Mid-Rise | Year Built | 1897 |
| Building Class | C |
| No. Units | 33 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.32 AC |
| Building Size | 34,808 SF |
| No. Stories | 4 |
| Year Built | 1897 |
ABOUT 102 S FREDERICK AVE , OELWEIN, IA 50662
Jan Berg CCIM SIOR and Harrison Kruse CCIM of CBRE|Hubbell Commercial are pleased to offer for sale The Mealey; a mixed-use property located on Frederick St., the main street in Oelwein. The Mealey opened on February 21, 1898, as The Mealey Hotel with 70 rooms. The hotel was considered a place of grandeur with a formal dining room, hotel office and barbershop along with restrooms and banquet/parlor areas on the main floor. Although most recently known as the Hotel Iowan, The Mealey was run as a hotel until 1980, when it was converted to commercial and residential units. In 1983, The Mealey was listed on the National Register of Historic Places. As of today, The Mealey has two commercial tenants and 34 apartments with a mix of studio, one bedroom/one bathroom, and two bedroom/one bathroom apartments. The only residential mixed-use property in the heart of downtown Oelwein providing tenancy limited to empty nesters and retirees, providing a secure tenant base and reduced tenant issues.
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 30 | - | 600 |
| 1+1 | 3 | - | 750 |
PROPERTY TAXES
| Parcel Number | 18-21-330-017 | Improvements Assessment | $744,450 |
| Land Assessment | $22,600 | Total Assessment | $767,050 |
PROPERTY TAXES
