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Sold for $320,000
  • $320,000

    198 1st St, Gilbert, IA 50105

    --beds
    0baths
    3,932sqft
    Quadruplex, Multi Family
    Built in 1972
    -- sqft lot
    $323,800 Zestimate®
    $81/sqft
    $1,140 Estimated rent

    Home value

    $323,800

    $288,000 - $366,000

    $1,140/mo

    Zestimate® history
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    $2,066/mo

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    What's special

    Investor or House Hack Opportunity! This well-maintained 4-plex, located in the growing town of Gilbert, offers four spacious 2-bedroom, 1.5-bathroom units. Each unit features a private back deck or patio overlooking a wooded area for added privacy. Recent updates include a new roof, gutters, and flooring. The property also features a master lock system and a brick exterior ensuring durability with minimal maintenance. All utilities are separately metered, reducing landlord expenses. With Gilbert's strong rental demand, there's excellent potential to increase rents and maximize cash flow. Walking distance to Gilbert's highly rated school and charming Main Street is great for tenant retention. This prime multi-family property won't last long!

    Zillow last checked: 7 hours ago

    Listing updated: June 30, 2025 at 01:53pm

    Listed by:

    Collin Fett,

    RE/MAX REAL ESTATE CENTER,

    Fett Team 515-216-0836,

    RE/MAX REAL ESTATE CENTER

    Bought with:

    Member Non

    CENTRAL IOWA BOARD OF REALTORS

    Source: CIBR,MLS#: 66770MLS Logo

    Facts & features

    Interior

    Bedrooms & bathrooms
    • Bathrooms: 0
    Heating
    • Natural Gas
    Cooling
    • Central Air
    Features
    • Flooring: Carpet
    • Basement: None
    Interior area
    • Total structure area: 3,932
    • Total interior livable area: 3,932 sqft

    Property

    Lot
    • Size: 0.44 Acres
    • Dimensions: 125 x 152
    Details
    • Parcel number: 0504475210
    • Zoning: res

    Construction

    Type & style
    • Home type: MultiFamily
    • Property subtype: Quadruplex, Multi Family
    Materials
    • Brick
    • Foundation: Brick/Mortar
    Condition
    • Year built: 1972

    Utilities & green energy

    • Sewer: Public Sewer
    • Water: Public

    Community & neighborhood

    Location
    • Region: Gilbert

    Price history

    DateEventPrice
    5/8/2025Sold$320,000-8.6%$81/sqft
    Source: CIBR #66770 Report a problem
    3/25/2025Pending sale$350,000$89/sqft
    Source: DMMLS #713109 Report a problem
    3/13/2025Listed for sale$350,000$89/sqft
    Source: CIBR #66770 Report a problem

    Public tax history

    Tax history is unavailable.

    Neighborhood: 50105

    Nearby schools

    GreatSchools rating
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    An equal housing lender. NMLS #10287.