215 E Ninth Street, Madrid, IA 50156

$349,900

Rare opportunity to own a unique and versatile 3,400 sqft residential home with four separate living spaces (each with a private entry). Perfect for an owner-occupant looking to offset their mortgage, or a house hacker or investor looking for additional income streams! The property consists of Unit 1 - XL 2bed/1bath unit with a shared enclosed porch. Unit 2. - Upstairs studio / full bath with a shared enclosed porch. Unit 3 - 2bed/1bath with a private enclosed porch and Unit 4 - 1bed/1bath. Units 1 & 2 could be combined to make a large, 2,200 sq ft living space for an owner-occupier while generating rental income from the two remaining units. Three of the units are fully furnished, all which conveys with the sale. All units are currently occupied with short-term leases. The property has extensive updates including new kitchens in each unit, new windows throughout, new hot water tanks, and newer mini-split systems. In addition, a 2,400 sqft unfinished basement with tall ceilings is a huge value add opportunity. With multiple living spaces, additional income streams, and significant upgrades, this property offers exceptional potential for the right buyer!

Legal: HOPKINS ADD E 1/2 OF LOTS 3 & 4 BLOCK 3 & S 1/2 E-W ALLEY ADJ TO N SIDE OF E 1/2 OF LOT 3 NE SE