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Ernest Abell

ernieabell.realty@hotmail.com +1(641) 414-3893

Listed by Trisha Rea Bridge City Realty

$ 335,000

Est. payment | -/mo

2 Beds

1 Bath

2,640 SqFt

Save

$ 335,000

Est. payment | -/mo

Save

2 Beds

1 Bath

2,640 SqFt

Key Details

Property Type Single Family Home

Sub Type Single Family Residence

Listing Status Active

Purchase Type For Sale

Square Footage 2,640 sqft

Price per Sqft $126

MLS Listing ID NOC6336940

Style Apartment Style

Bedrooms 2

Full Baths 1

Year Built 1880

Annual Tax Amount $3,830

Tax Year 2024

Lot Size 3,267 Sqft

Acres 0.075

Lot Dimensions 22X149

Property Sub-Type Single Family Residence

Property Description

A rare opportunity to acquire a fully operational, income-generating mixed-use property in the heart of downtown Ottumwa. This handsome, historic, two-story brick building, offers immediate revenue from both floors and the kind of downtown presence that takes a long time to establish. The first floor is configured as a working retail and bar/eatery space, currently home to two established local businesses with a loyal customer base and a recognized brand. The space is flexible, rent-ready, and suited to a wide range of commercial uses — retail, food and beverage, professional services, or creative enterprise. New ownership can continue existing operations, welcome a new commercial tenant, or reimagine the space entirely. The second floor is a comfortable two-bedroom, one-bathroom, walk-up apartment currently generating income as a licensed short-term rental with verified SuperHost status on Airbnb — a designation that reflects documented guest demand and operational excellence and transfers significant value to a new owner. The apartment converts readily to a long-term residential lease, with realistic monthly rental income for a qualified tenant. Additional upside includes the potential to add a rear deck overlooking the Des Moines River, enhancing the property's appeal for both commercial and residential occupants. Combined annual gross income potential from both floors nears $40,000 in passive rent alone. This is a property that works from day one.

Location

State IA

County Wapello

Area 2640

Direction North Jefferson Street to E Main Street

Rooms

Basement Full

Interior

Heating Forced Air

Cooling Central Air

Exterior

Parking Features Outside

View Y/N true

Accessibility None

Building

Sewer City Sewer/Connected

Water Public

Architectural Style Apartment Style

Structure Type Brick

Schools

School District 5049 - Ottumwa

Others

Energy Description Natural Gas

Acceptable Financing NOC6336940

Listing Terms NOC6336940

Schools and Properties Nearby

Find out why customers are choosing LPT Realty to meet their real estate needs

+1(641) 414-3893

ernieabell.realty@hotmail.com

Learn More About LPT Realty

328 E Main ST Ottumwa, IA 52501