606 Hooper Street, Melbourne, IA

Others for Sale - $239,900 - 2,912 Sq. Ft.


Agent Info

Kristin Polley
CENTURY 21 Signature Real Estate

Property Info

CIMLS#1184814
Location
  606 Hooper Street
  Melbourne IA 50162
UpdatedDecember 2nd, 2025
TypeOthers
Price$239,900
Building2,912 Sq. Ft.

Property Description

Investor alert! 606 Hopper Street is a completely occupied and priced-to-sell 4-plex in Melbourne, generating over $32,000 in annual income with a strong 9% CAP rate. Each of the four units features 2 bedrooms and 1 bathroom, offering steady demand and reliable rental performance. The property boasts newer siding and a newer roof, minimizing future maintenance costs and adding long-term value. Tenants enjoy the convenience of a coin-operated laundry, and each unit comes fully equipped with a refrigerator and range, ensuring immediate rental readiness. With solid cash flow, consistent occupancy, and key updates already completed, this multifamily property is a standout opportunity. Sold AS-IS, presenting exceptional value for investors looking to expand their portfolio or secure dependable passive income.


Financials