165 S Chet Krause Drive Unit 185Iola, WI 54945

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 rare investment opportunity. Don’t miss, schedule your showing today!

Property Information

Property type

Residential Income

Sub-type

Multi Family

Year built

1965

Lot size

2.68 acres

Zoning

Multi-Family

Days on market

288

MLS^® Listing#

22600132

Property Features

Appliances

Refrigerator · Range

Cooling

Ceiling Fan(s)

Heating

Hot Water · Steam

Basement

Finished

Parking

Parking Lot · Paved

Patio

Deck · Patio

Construction

Brick · Vinyl Siding

Roof

Shingle

Security

Smoke Detector(s)

Sewer

Public Sewer

Water source

Public

Financial Details

Annual taxes

$13,064Tax year 2025

Directions

on Chet Krause Drive