4-Unit Property. Ranch Multi-Family. Investment Opportunity. This 4-unit complex is a great opportunity. All four units are approximately the same size, with about 600 square feet each. There are two One-Bed units and two Two-Bed units. Each have: Living: Carpet Kitchen/Dining: Vinyl Flooring, Laminate Countertops Bedroom 1: Carpet, Closet Bedroom 2 (if applicable): Carpet, Closet Full Bathroom: Vinyl Flooring, Tub/Shower Closets for Storage There is a separate shared laundry space in the building that contains a coin-operated washer/dryer. These machines are leased with a company who maintains them and repairs them as well as collects the coins (lease is transferable). The tenants pay for their own electricity & garbage, while the landlord pays for the water, sewer & common space electric ($150/mo), lawn care & snow removal ($100/mo), and insurance ($110/mo) The rental income for each unit is as follows: Unit 1 (two bedroom): $475/mo Unit 2 (one bedroom): $400/mo Unit 3 (one bedroom): $400/mo Unit 4 (two bedroom): $450/mo Security Deposits will be included upon closing. All units are currently rented. There is off-street parking spaces for the units.
This listing consists of two four plex apartment buildings to be sold as one listing. The first is located at 115 N Rerick Ave Primghar, Iowa. This building has two-one bedroom apartments and two-two bedroom apartments. The second building is located at 475 1st Street NE Primghar, Iowa and has three-one bedroom apartments and one-two bedroom apartment. Both buildings have a resident only laundry room with washer, dryer and sink. Both buildings are all electric utilities and tenant owned window air conditioners. There is off street reserved parking at both buildings. Both buildings have low maintenance exteriors of brick and vinyl siding and nearly new shingles. This is a Great investment opportunity.
Year
Property tax
Land + Additions
Assessment*
2025
$2,448 (+1.6%)
$8,820 + $171,760
$180,580
2024
$2,410 (+89.5%)
$8,820 + $152,680
$161,500
2023
$1,272 (−6.5%)
$8,820 + $152,680
$161,500
2022
$1,360
$5,290 + $62,460
$67,750
Tax history for 115 N Rerick Ave
Year
Property tax
Land + Additions
Assessment*
2025
$2,448 (+1.6%)
$8,820 + $171,760
$180,580
2024
$2,410 (+89.5%)
$8,820 + $152,680
$161,500
2023
$1,272 (−6.5%)
$8,820 + $152,680
$161,500
2022
$1,360
$5,290 + $62,460
$67,750
*Taxable value of land and structures on it ("additions") is determined regularly by local assessors and does not affect market price.
Public record
Beds
—
Baths
—
Stories
1
Lot width
—
Lot depth
—
Lot size
0.27 Acres
Year renovated
1975
Sq. Ft.
2,400
Year built
1975
Style
Other
County
O'Brien County
APN
0000236600
Parking Spaces
—
Basement
—
Accessible
—
HOA Dues
—
Garage
—
Features
—
Last updated by owner on Jul 10, 2026.
Property details
Parking
Parking/Garage Information
Parking Features: Concrete
Interior
Bathroom Information
# of Full Bathrooms: 4
Heating & Cooling
Has Cooling
Cooling: Window Unit(s)
Has Heating
Heating: Electric, Baseboard
Exterior
Property Information
Property Type: Residential Income
Property Sub Type: Multi Family
Raw Mls Property Sub Type: Multi-Unit
Lot Information
Lot Size Acres: 0.27
Utilities
Utility Information
Water Source: Public
Sewer: Public Sewer
Public facts
Beds: —
Baths: —
Sq. Ft.: 2,400
Stories: 1.0
Lot Size: 0.27 acres
Style: Other
Year Built: 1975
Year Renovated: 1975
County: O'Brien County
APN: 0000236600
Home facts updated by county records on Jul 10, 2026
Around this home
Schools
Places
Transit
South O'brien Elementary School Primghar Center
Public PreK-6 • Assigned • 0.2mi
5/10
South O'brien Secondary School
Public 7-12 • Assigned • 8.3mi
7/10
Provided by GreatSchools
Lifestyle
Provided by Walk Score and Local Logic
Climate risks
1/10 Flood Factor
Minimal risk of a flood reaching the building in the next 30 years
1/10 Fire Factor
Unlikely to be in a wildfire in next 30 years
3/10 Heat Factor
7 days above 101° expected this year, 15 days in 30 years
2/10 Wind Factor
Minor risk of severe winds over next 30 years
1/10 Air Factor
0 unhealthy days expected this year, 0 days in 30 years
Provided by First Street
Historical weather
Primghar, IA • 51245
Average low and high temperatures (°F)
27
8
36
14
53
29
60
38
72
48
81
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83
65
79
61
79
55
67
45
46
29
33
16
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
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Dec
Sun exposure
Try the sun simulator tool to see how light moves across the property at different times of day and year.
Provided by Shadowmap
Estimated sale price
$195,000 – $236,000
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