About This Home
This 0-bedroom, 0-bathroom commercial at 905 S Washington Street in Bloomfield, IA is listed for $1,200,000. Built in 1978, on a 3.50 acres lot.
Key Features
- Built in 1978
- 3.50 acre lot
Property Details
Amenities
Rare value-add redevelopment opportunity with major upside potential. Situated on approximately 3.5 acres, this former motel property offers the ideal setup for an apartment conversion, workforce housing project, extended stay concept, or mixed-use redevelopment.
The existing layout creates an opportunity to reposition the asset into income-producing multifamily units while leveraging the large site for future expansion, additional amenities, storage, parking, or new construction opportunities. Strong demand for affordable housing and rentals in the area makes this a compelling play for investors, developers, and operators looking for forced appreciation.
In addition to the redevelopment parcel, the offering includes another parcel generating supplemental income, creating immediate cash flow while plans and improvements are underway.
Monthly Cost Estimate
$6,418/mo
20% down · 6.5% · 30 years
Estimates only. Actual payments may vary.
Location
905 S Washington Street
Bloomfield, IA
Property Details
Construction
Heating
Cooling
Appliances
Questions & Answers
This 0-bedroom, 0-bathroom commercial at 905 S Washington Street is listed at $1,200,000. The estimated monthly payment is $6,418 based on 20% down, a 30-year loan at 6.5% interest, estimated insurance.
Key features include: Built in 1978, 3.50 acre lot.
This property is listed by Benjamin Grotzke and can be reached at 5157450425.