107 Homer St & 303 College St NW 2 Multifamily Properties Offered at $759,646 CAD in Shellsburg, IA

This two-property multifamily portfolio in Shellsburg, Iowa, features a total of eight income-producing units across two well-maintained 4-plexes. Offered together for $535,000, this investment combines modern renovations, stable occupancy, and operational efficiency through separate utility metering.
303 Cottage St NW was fully gutted and remodeled in 2022, presenting updated interiors and high tenant appeal. Each unit is individually metered for utilities, significantly reducing ownership costs to only common electric and water. Current monthly rents average $850 per unit, positioning this property for strong ongoing cash flow and long-term performance.
107 Homer St complements the offering with established income and consistent operations. This property includes electric baseboard heating, wall A/C units, and owned laundry facilities for added income potential. Current monthly rents average $750 per unit, with the owner responsible only for common utilities. All tenants are on month-to-month agreements, allowing for immediate operational flexibility or rent adjustments.
Situated just minutes from the Cedar Rapids metro corridor, these properties benefit from area demand, small-town stability, and proximity to regional employers. With a combined gross income of $73,560 and an NOI of $40,780, this portfolio represents an attractive acquisition for investors seeking reliable cash flow and recent renovations in a growing Eastern Iowa market.