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Listed by KPR BROKERS, LLC
$ 995,000
Est. payment /mo
Active
165 CHET KRAUSE DRIVE #185 Iola, WI 54945
UPDATED:
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Municipality IOLA
MLS Listing ID 22600132
Year Built 1965
Annual Tax Amount $13,064
Tax Year 2025
Property Description
Investment Opportunity! Discover this unique 12-unit apartment complex located in the Village of Iola! Spanning an entire block, this property consists of two combined buildings with over 39,000 square feet and offers ample space with potential to add additional units or repurpose the other square footage. The complex features off-street parking for tenants, on-site laundry, and inviting common gathering areas, perfect for socializing, card nights, or game day Sundays. Unit layouts include a mix of 2-bedroom/1-bath and 1-bedroom/1-bath apartments. The property boasts a strong rental history, and all units are currently occupied. The other building has potential to be repurposed or could be other potential uses. It was formerly used as a medical facility. The construction materials would be difficult to duplicate for the price this one is being offered at. Lower level features additional storage areas and utility rooms. There is a ton of potential with all the square footage this property has to offer, plus the cash flow from the 12 units that is currently in place makes this a
Location
State WI
County Waupaca
Zoning Multi-Family
Interior
Interior Features Ceiling Fan(s), Smoke Detector(s), Cable/Satellite Available, Walk-in closet(s)
Equipment Refrigerator, Range/Oven
Appliance Refrigerator, Range/Oven
Exterior
Exterior Feature Deck, Patio
Parking Features None
Roof Type Shingle,Flat,Other
Building
Dwelling Type Complex,1 Story
Sewer Municipal Water, Municipal Sewer
Structure Type Brick/Stone,Vinyl,Other
New Construction N
Schools
Elementary Schools Iola-Scandinavi
Middle Schools Iola-Scandinavi
High Schools Iola-Scandinavi
School District Iola-Scandinavi
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