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546 W 2nd St 11 Unit Apartment Building $875,000 ($79,545/Unit) 8.29% Cap Rate Webster City, IA 50595
Investment Highlights
- Mixed-use building combining retail space and multifamily apartments in a central downtown location.
- Income-producing asset now stabilized with annual NOI of $72,554 and utility expense efficiencies through RUBS.
- Numerous operational upgrades such as new HVAC systems, plumbing improvements, and additional laundry facilities.
- Comprehensive renovation completed in 2026, including structural, mechanical, and security enhancements.
- Retail frontage positioned along Webster City’s primary commercial corridor, promising consumer traffic and visibility.
- Strong tenant appeal with updated security measures and convenience amenities integrated across the property.
Executive Summary
This mixed-use property in the heart of Webster City’s downtown offers an outstanding investment opportunity at an asking price of $875,000. Spanning nearly 19,902 square feet, the asset features a combination of retail space and 11 apartment units, along with a basement storage component. A significant infusion of capital has been recently invested into the building, including tuck-pointing, roofing replacement, upgraded plumbing systems with PEX piping, new heating and cooling units, modernized storefront systems, new gutters, and enhanced building entries with mag-lock security access. Approximately 40% of apartment appliances have been replaced, and operational security cameras have been installed throughout. The property also benefits from cost controls implemented via a RUBS billing system for utilities, which has driven operating efficiency. Producing a stabilized annual NOI of $72,554, this investment offers solid income potential for buyers seeking a well-positioned property in a growing regional market. Located directly along the main street in Webster City, it delivers prominent visibility and proximity to local businesses and amenities.
Property Facts
| Price | $875,000 | Building Class | B |
| Price Per Unit | $79,545 | Lot Size | 0.25 AC |
| Sale Type | Investment | Building Size | 19,902 SF |
| Cap Rate | 8.29% | No. Stories | 2 |
| No. Units | 11 | Year Built | 1915 |
| Property Type | Multifamily | Parking Ratio | 0.8/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Price | $875,000 |
| Price Per Unit | $79,545 |
| Sale Type | Investment |
| Cap Rate | 8.29% |
| No. Units | 11 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | B |
| Lot Size | 0.25 AC |
| Building Size | 19,902 SF |
| No. Stories | 2 |
| Year Built | 1915 |
| Parking Ratio | 0.8/1,000 SF |
| Opportunity Zone |
Yes |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 11 | - | - |
Fairly walkable
50/100
Exceptionally drivable
100/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 40-88-26-01-232001 | Improvements Assessment | $184,500 |
| Land Assessment | $34,500 | Total Assessment | $219,000 |
Property Taxes
Parcel Number
40-88-26-01-232001
Land Assessment
$34,500
Improvements Assessment
$184,500
Total Assessment
$219,000
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546 W 2nd St
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