1518 4th Avenue, Spencer, IA 51301

Homes for Sale in Spencer, IA 51301 | MLS #240960

$550,000

  • 12
  • 8
  • 4704
  • Active
Price Decreased

General Description

Presenting a fantastic property with four well-designed apartments, each featuring 3 bedrooms, 1.5 bathrooms, and an attached garage. Enjoy great views of the Spencer Municipal Golf Course and the benefit of large decks for added outdoor space. These apartments have a solid rental history, with all four currently under long-term leases, making this an attractive option for investors seeking reliable income. With each unit over 1,100 square foot, this property offers both value and potential.

Legal: 6 HARTS 2ND RES SUB (EXACT LEGAL PER ABSTRACT)
Status: Active

Property Information

240960

$550,000

Sale

Quadruplex

MULTIFAMILY

1518 4th Avenue SW

Spencer

IA

51301

12

8

4704

13000

Attached

4

4692

2022

Spencer

1977

Features

No

Utilities

No

LISTED BY

Jensen Real Estate, Matt Lippon (712.330.0604) & Jensen Real Estate, Michael Jensen (712.330.0604)

PROPERTY LOCATION

MORTGAGE CALCULATOR


Will Kretsinger - REALTOR

Will Kretsinger

REALTOR

Aaron Jones - RE/MAX Hall of Fame & Lifetime Achievement

Aaron Jones

RE/MAX Hall of Fame & Lifetime Achievement

Ask About this Property #240960

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COMMUNITY

The Family Diner

The Family Diner in Spirit Lake

The Family Diner is Spirit Lake, IA is a local favorite! They offer up a large portion for small money, but whether you come early or late you may be in for a wait. With homemade bread and the largest sausage patty you have seen, The Family Diner is consistently delicious. They are open only for breakfast and lunch and closed two days a week. In my former career at Stylecraft, the family diner was definately a favorite when our friends would visit from North Carolina. They were always inpressed with the bread and rolls and corn beef hash.

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"The Bridge"

"The Bridge" has been referred to by the Wharf Bridge, the Kentucky Fried Chicken Bridge, the bridge connecting East and West, among other names. In the good old days, this was actually a draw bridge converted to the current permanent structure. In the 90's when the 3 lane was installed, there was talk about removing the bridge and making some drastic changes. All in all, the base of the bridge remained, and the upper structure was improved. I remember as a kid jumping off the bridge, and fishing on and under the bridge. In fact, an unforgettable memory I have is when I was fishing with my cousin and I casted out trying to reach the opposite corner of the bridge with my lure. In mid air, a pigeon flew and the timing was so great that my line wrapped around the pigeon, and the pigeon went into the water. I reeled it up and had caught a pigeon. My cousin then decided to hold this pigeon inside the front of his coat. We went to show people at Okoboji Boats what we had caught. When we got there, he opened his jacket, and the pigeon had pooped all over his white shirt.

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Terrace Park

Terrace Park is located in Brown's Bay on West Lake, Okoboji. It is one of the largest public beaches on West Lake and has entertained beach goers for many years. Next to Terrace Park is Boys Town out of Omaha, Nebraska. I remember as a kid spending entire days at terrace park, either riding bicycle or taking a moped (yes a moped) down to meet with friends and playing king on the dock. In 2010, the morning after "the storm", Terrace Park was carnage. Boat were stacked on top of each other. Trees were uprooted, and hoists were tossed around. Boats and other water craft were found in Terrace Park that belonged to owners on the North end of West Lake.

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