Property Description
0.28± Acres Fixer-Upper Investment Opportunity | Wapello County, Iowa
Located in Wapello County, Iowa, in the city of Ottumwa, this 3-bedroom, 1-bath home offers a strong opportunity for investors, flippers, or buyers seeking a rental property. Situated on a 0.28± acre double corner lot, the property provides space and flexibility for future improvements.
This is a full rehab project ideal for those looking to add value through renovation. The 840 square foot home presents a blank slate for a fix-and-flip or long-term rental strategy in an established neighborhood within Ottumwa.
The large corner lot includes a shed and existing concrete pad, offering potential for a garage, workshop, or additional outbuilding. With the right vision, this property can be transformed into a productive investment or affordable housing option.
Property details
- Acreage: 0.28± acres (12,196 sq ft)
- County and state: Wapello County, Iowa
- Nearest town: Ottumwa
- Located within Ottumwa city limits
- 3-bedroom, 1-bath home
- 840 square feet of living space
- Shed and concrete pad included
Key features
- 3-bedroom, 1-bath investment property
- Full rehab opportunity
- 0.28± acre double corner lot
- Located in Ottumwa, Iowa
- Strong fix-and-flip potential
- Suitable for rental property conversion
- Existing shed on site
- Concrete pad for future build
- Room for garage or outbuilding
- Established neighborhood setting
- Manageable lot size with expansion options
- Affordable entry point for investors
Frequently asked questions
Is this property a good investment opportunity in Ottumwa, Iowa?
Yes, this property is well-suited for investors seeking a value-add opportunity. Its full rehab condition allows buyers to renovate and potentially increase property value. It can be used for a flip or held as a rental.
How large is the lot and what can be built on it?
The lot is approximately 0.28 acres and sits on a double corner parcel. This provides additional space compared to typical city lots. There is potential for a garage, workshop, or other improvements.
What condition is the home currently in?
The home is considered a full rehab project. Buyers should expect to complete repairs and updates. This makes it ideal for experienced investors or contractors.
Is the property suitable as a rental after renovation?
Yes, the property could function well as a rental after improvements are completed. Ottumwa has consistent demand for affordable housing. Renovations can help maximize rental income potential.
Are there any existing structures or improvements on the property?
Yes, the property includes a shed and a concrete pad. These features can be used for storage or as a base for future construction. They add utility and potential value to the lot.
Where is Ottumwa, Iowa located?
Ottumwa is a city in southeastern Iowa within Wapello County. It serves as a regional hub with access to local amenities, employment, and services. The property is located within the city limits for convenience.
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Directions:
From Ottumwa, travel east on South Mary Street to South Milner Street. Turn right and head south on South Milner Street, then turn left onto West Hand Avenue. The property will be just ahead on the corner lot. Look for the sign.
