546 2nd Street
Property Description
Prime mixed-use investment in Webster City's downtown retail corridor. This 19,902 SF brick & steel building features 11 apartments (6 one-bed, 2 two-bed, 3 studio) plus 2 commercial suites with strong long-term leases: Suite 1 at $2,333/mo on a 3-year lease and Suite 2 at $900/mo on a 4-year lease. Renovated in 2026: new roof, PEX plumbing, RTU, furnaces, appliances, security cameras & key fob access. RUBS system reduces utility exposure. Pro forma gross monthly income of $11,200 at stabilized occupancy. Annual NOI of $72,554 - 8.3% cap rate. 86% occupied, mostly year-plus leases. Coin laundry on-site. Priced at $44/SF. Value-add upside on 2 vacant units.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $875,000 |
| No. of Units: | 11 |
| Lot Size: | 19,980.00 Sq ft |
| Opportunity Zone: | No |
| Price per unit: | $79,545 |
| Property Website | Click Here |
| Number of Bedrooms: | 10 |
| Number of Bathrooms: | 8 |
ID: 3yd-FDBORIA-30042
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Lenders
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Essex Property Trust, Inc.
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Josh A
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Bob Tuteur
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Andrew Schildcrout