510 S Jefferson Way 2 Unit Apartment Building $205,000 ($102,500/Unit) Indianola, IA 50125

510 S Jefferson Way presents an opportunity to acquire an income-producing duplex in Indianola, Iowa. The property is being offered with existing tenancy in place, including long-term occupants and month-to-month tenants, providing immediate cash flow from day one. Current rental income totals $1,775 per month, offering investors a stabilized revenue stream with future flexibility as leases mature.
Positioned along the Highway 65/69 corridor and directly across from the South Casey's convenience store, the property benefits from a highly visible location within an established area of Indianola. The location provides convenient access throughout the community and offers connectivity to the greater Des Moines metropolitan region via major transportation routes. Indianola serves as the county seat of Warren County and is home to Simpson College, supporting a diverse local economic base and year-round housing demand.
The duplex configuration allows investors to diversify rental risk across two units while maintaining a manageable property footprint. Existing occupancy provides immediate operational continuity, while the presence of month-to-month tenancy may offer future opportunities for rent adjustments or strategic repositioning based on market conditions. With annual operating expenses reported at approximately $4,300, the property offers a straightforward investment profile suitable for investors seeking current income and long-term ownership potential.