105 Ludland DR, Manchester, IA 52057
See all 28 photos
105 Ludland DR, Manchester, IA 52057
105 Ludland DR, Manchester, IA 52057
105 Ludland DR, Manchester, IA 52057
105 Ludland DR, Manchester, IA 52057
REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
Listed by Tyler Rasmussen • EPM, Iowa
$ 560,000
Est. payment /mo
Save
New

105 Ludland DR Manchester, IA 52057

6,112 SqFt

UPDATED:

Key Details

Property Type Apartment

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

Square Footage 6,112 sqft

Price per Sqft $91

MLS Listing ID 20264271

Style Split Foyer

Year Built 1980

Annual Tax Amount $4,690

Lot Size 0.420 Acres

Acres 0.42

Lot Dimensions 160x115

Property Sub-Type Apartment

Property Description

Add a proven, low-maintenance multifamily asset to your portfolio with these two well-maintained four-unit apartment buildings in Manchester. The eight-unit property was completely renovated in 2021 and has maintained full occupancy throughout the current owner's management—demonstrating consistent demand and dependable income potential. The renovated two-bedroom apartments feature updated flooring, paint, kitchen cabinets, appliances, furnaces, and central air conditioning. Each resident pays their own water, electricity, and gas, significantly limiting the owner's utility exposure. Landlord responsibilities are streamlined to lawn care, snow removal, common-area cleaning, trash service, and a house electric meter. Investment highlights include: - Eight apartments across two four-unit buildings - Strong occupancy history under current management - Comprehensive renovation completed in 2021/2022 - Individually paid resident utilities: water, electricity, and gas - Low ongoing maintenance and operating demands - Updated interiors, mechanical systems, and central air conditioning - Established rental location in Manchester, the Delaware County seat This is an appealing opportunity for an investor seeking a stabilized multifamily property without the immediate renovation burden commonly associated with older apartment assets. With updated units, controlled owner-paid expenses, an excellent occupancy record, and efficient operating requirements, 105 and 109 Ludland Drive offer the fundamentals investors look for in a dependable eight-unit acquisition. If you have been searching for a solid, well-cared-for apartment investment with a demonstrated rental history, this property deserves a closer look.

Location

State IA

County Delaware

Zoning R-2

Rooms

Basement Concrete

Interior

Heating Forced Air

Cooling Central Air

Fireplace N

Laundry None

Exterior

Parking Features Parking Pad, Parking Space, Paved, None

Utilities Available Cable Paid by Individual, Elec Individual Meters, Gas Individual Meters, Water - Multiple Meters

View Y/N true

Roof Type Asphalt

Building

Sewer Public Sewer

Water Public

Structure Type Vinyl Siding

Schools

Elementary Schools West Delaware

Middle Schools West Delaware

High Schools Maquoketa Valley

Others

Acceptable Financing NBR20264271

Listing Terms NBR20264271

Special Listing Condition Normal Sale

Joanne Heying

Joanne Heying

Broker Associate BB62298000

+1(641) 330-3859

GET MORE INFORMATION

Name
Phone*
Message

By checking this box, I agree by electronic signature to the Electronic Disclosure Consent Agreement; to receive recurring marketing communication from Joanne Heying, including auto-dialed calls, texts, and artificial/prerecorded voice messages (message frequency varies; data rates may apply; reply "STOP" to opt-out of texts or "HELP" for assistance); and to the Terms of Service and Privacy Policy of this website. Consent not required to make a purchase. I understand that I can call to obtain direct assistance.

Go tour this home

105 Ludland DR