$355,000
SOLD MAR 31, 2026

401 Central Ave SW Le Mars, IA 51031

11 Beds
7 Baths
4,350 Sq Ft
14,810 Sq Ft Lot

Sale Details

Date Sold: March 31, 2026

$82 Per Sq Ft

5% Below List Price

181 Days on Market

Highlights

  • 1 Car Detached Garage
  • Forced Air Heating and Cooling System
  • 5-minute walk to Foster Park
  • Landscaped with Trees
  • Level Lot

About This Home

As of March 2026

Rare investment opportunity in the heart of Le Mars! This remodeled 3-story property features three spacious apartments, plus a unique detached home, with an attached garage. Both units and detached home are fully updated and leased. Major improvements include: a new roof in 2025, modern kitchens and baths, in-unit laundry, a fire suppression system, and separate utilities – which keeps landlord expenses low. Each unit offers 3 bedrooms with generous layouts. While the detached home offers vaulted ceilings and a loft bedroom – giving strong tenant appeal across the board. With four income-producing units, stable tenancy, and low operating overhead, this property delivers consistent cash flow and low-term value. Rent values are competitive for the market, with room for future growth.

Last Agent to Sell the Property

Daniel Nguyen

United Real Estate Solutions Listed on: 08/28/2025

United Real Estate Solutions

Last Buyer's Agent

Lexie Nathaniel

Keller Williams Siouxland

Keller Williams Siouxland

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $3,942

Year Built

  • Built in 1901

Lot Details

  • 15,000 Sq Ft Lot
  • Stone Retaining Walls
  • Level Lot
  • Landscaped with Trees

Parking

  • 1 Car Detached Garage

Home Design

  • 4,350 Sq Ft Home

Schools

  • Lemars Elementary And Middle School
  • Lemars High School

Utilities

  • Forced Air Heating and Cooling System
  • Internet Available

Community Details

  • 4 Units
  • Gross Income $49,500

Listing and Financial Details

  • Assessor Parcel Number 19149-12-16-182-007

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$3,942

Year Built

Built in 1901

Lot Details

0.34 Acres

Parking

1

Listing Details

  • Property Class: Multi-Unit
  • Type: Multi-Unit
  • Property Features: Level Lot, Retaining Wall, Trees
  • Legal Description: (SEE LONG LEGAL) LOTS 1 & 2 BLK 59 LE MARS
  • Year Built: 1901
  • Audio Surveillance: No
  • Current Leases Available: Yes
  • School Middle Junior: LeMars
  • Video Surveillance: No
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Total Sq Ft: 4350
  • Main Level Sq Ft: 1450
  • Sq Ft 2nd Level: 1450
  • Sq Ft 3rd Level: 1450

Garage/Parking

  • Garage Type: Detached
  • Internet: Yes
  • Driveway: Crushed Rock
  • Garage Spaces: 1
  • Off Street Parking: 8

Utilities

  • Air Conditioning Type: Central
  • Flood Insurance: Unverified
  • Fuel Type: Natural Gas
  • Heat Type: Forced Air
  • Sewer Type: City
  • Water Type: City

Lot Info

  • Acres: 0.34
  • Lot Sq Ft: 15000
  • Parcel Number: 19149-12-16-182-007
  • Zoning: L - R3+

Rental Info

  • Paid By Electric: Tenant
  • Paid By Gas: Tenant
  • Paid By Water: Tenant

Tax Info

  • Year: 2025
  • Gross Taxes: 3942
  • Tax Database Id: 1
  • Assessor Parcel Number: 19149-12-16-182-007

Multi Family

  • Electric Separate By Unit: Yes
  • Gross Income: 49500
  • Heat Separate By Unit: Yes
  • Number Of Units: 4
  • Water Separate By Unit: Yes

MLS Schools

  • School Elementary: LeMars
  • School High: LeMars

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Apr 29, 2015
Sold by
Feuerstein Robert W and Feuerstein Dixie K
Bought by
Phil Spady Chrysler Dodge Inc
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Type Sale Price Title Company
Warranty Deed -- None Available
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
03/31/2026 03/31/26 Sold $355,000 -5.3% $82 / Sq Ft
02/25/2026 02/25/26 Pending -- -- --
08/28/2025 08/28/25 For Sale $375,000 -- $86 / Sq Ft
Source: Northwest Iowa Regional Board of REALTORS®

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $3,942 $320,680 $43,150 $277,530
2024 $3,304 $289,540 $43,150 $246,390
2023 $3,122 $258,290 $33,840 $224,450
2022 $3,640 $211,040 $33,840 $177,200
2021 $3,440 $211,040 $33,840 $177,200
2020 $3,440 $186,870 $33,840 $153,030
Source: Public Records

Agents Affiliated with this Home

  • Daniel Nguyen

    Seller's Agent in 2026

    Daniel Nguyen

    United Real Estate Solutions

    (712) 212-1134

    2 in this area

    36 Total Sales

    Daniel Nguyen
    Section Image
  • Lexie Nathaniel

    Buyer's Agent in 2026

    Lexie Nathaniel

    Keller Williams Siouxland

    (712) 899-3087

    1 in this area

    30 Total Sales

    Lexie Nathaniel
    Section Image
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Map

Source: Northwest Iowa Regional Board of REALTORS®

MLS Number: 830098

Northwest Iowa Regional Board of REALTORS®

APN: 12-16-182-007

Iowa Plymouth County Le Mars 51031

401 Central Ave SW, Le Mars, IA

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

Northwest Iowa Regional Board of REALTORS® Information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Listing information is deemed reliable, but not guaranteed.

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