IInvestor or House Hack Opportunity! This well-maintained 4-plex, located in the growing town of Gilbert, offers four spacious 2-bedroom, 1.5-bathroom units. 1 unit in this building is renovated and the rest are original finishes. Each unit features a private back deck or patio overlooking a wooded area for added privacy. Recent updates include a new roof, gutters, and flooring. The property also features a master lock system and a brick exterior ensuring durability with minimal maintenance. All utilities are separately metered, reducing landlord expenses. With Gilbert's strong rental demand, there's excellent potential to increase rents and maximize cash flow. Walking distance to Gilbert's highly rated school and charming Main Street is great for tenant retention. This prime multi-family property won't last long!
Sold for $303,000 on 07/09/25
$303,000
188 1st St, Gilbert, IA 50105
--beds
0baths
3,932sqft
Quadruplex, Multi Family
Built in 1972
-- sqft lot
$303,000 Zestimate®
$77/sqft
$-- Estimated rent
What's special
Zillow last checked: 7 hours ago
Listing updated: July 11, 2025 at 01:53pm
Listed by:
Collin Fett,
RE/MAX REAL ESTATE CENTER
Bought with:
Member Non
CENTRAL IOWA BOARD OF REALTORS
Source: CIBR,MLS#: 66908

Facts & features
Interior
Bedrooms & bathrooms
- Bathrooms: 0
Heating
- Forced Air, Natural Gas
Cooling
- Central Air
Features
- Basement: None
Interior area
- Total structure area: 3,932
- Total interior livable area: 3,932 sqft
Property
Features
- Levels: Two
Lot
- Size: 0.44 Acres
- Dimensions: 150 x 125
Details
- Parcel number: 0504475230
- Zoning: res
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Quadruplex, Multi Family
Materials
- Brick
- Foundation: Brick/Mortar
Condition
- Year built: 1972
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
Community & neighborhood
Location
- Region: Gilbert
Services availability

Get pre-qualified for a loan
At Zillow Home Loans, we can pre-qualify you in as little as 5 minutes with no impact to your credit score.An equal housing lender. NMLS #10287.