102 S Main Street, Leon, IA 50144

Leon
Local realty services provided by:Better Homes and Gardens Real Estate Innovations
102 S Main Street,Leon, IA 50144
$575,000
Virtual Tour
  • 28 Beds
  • - Baths
  • 15,651 sq. ft.
  • Multi-family
  • Active
Listed by: sandy delzell
Office: iowa realty indianola
MLS#:734599
Source:IA_DMAAR

Price summary

  • Price:$575,000
  • Price per sq. ft.:$36.74

About this home

Located prominently on Main Street in the heart of Leon, this three-story, 24-unit apartment building presents a rare value-add opportunity in a supply-constrained small-town market. The property features a strong unit mix of 3 studios, 15 one-bedroom/one-bath units, 5 two-bedroom/one-bath units, and 1 three-bedroom unit, supporting broad rental demand and long-term stability. With both in-place income and operational flexibility, a new owner has the ability to thoughtfully renovate, reposition, and increase rents through strategic improvements. Communities like Leon often experience consistent rental demand due to limited multifamily inventory, making well-managed apartment buildings an attractive and essential housing option. Interior updates such as flooring, paint, fixtures, and kitchen and bath enhancements offer clear upside potential to elevate overall performance and asset value. Additional features include four garages for added income potential and shared on-site laundry.

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Home facts

  • Year built:1920
  • Listing ID #:734599
  • Added:8 day(s) ago
  • Updated:February 25, 2026 at 03:52 PM

Rooms and interior

  • Bedrooms:28
  • Flooring:Carpet, Vinyl
  • Kitchen Description:Cooktop, Refrigerator, Stove
  • Basement:Yes
  • Basement Description:Unfinished, Walk Out Access
  • Living area:15,651 sq. ft.

Heating and cooling

  • Cooling:Window Units
  • Heating:Electric, Forced Air, Gas, Hot Water, Natural Gas

Structure and exterior

  • Roof:Rolled Hot Mop
  • Year built:1920
  • Building area:15,651 sq. ft.
  • Lot area:0.4 Acres
  • Lot Features:Rectangular Lot
  • Architectural Style:Three Story
  • Construction Materials:Brick, Wood Siding
  • Foundation Description:Block
  • Levels:3 Story

Utilities

  • Water:Public, Water Available
  • Sewer:Public Sewer

Finances and disclosures

  • Price:$575,000
  • Price per sq. ft.:$36.74
  • Tax amount:$5,902

Features and amenities

  • Appliances:Cooktop, Dryer, Refrigerator, Stove, Washer
  • Laundry features:Dryer, Main Level, Upper Level, Washer
  • Amenities:Fire Alarm, Smoke Detectors

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