307 1st St NW, Elkader, IA 52043

Charming Triplex in the Heart of Elkader – Income Opportunity! This versatile triplex is full of character and income potential—live in one unit and rent out the other two, or lease all three for long-term tenants or short-term rentals. Two of the units are fully furnished and ready for Airbnb or VRBO immediately, with all kitchen appliances included. Located just two blocks from downtown Elkader and within walking distance to the school, this property sits in a quiet, central neighborhood of one of Northeast Iowa’s most charming, historic communities. The triplex features three private units with separate entrances, separately metered electricity, and plenty of off-street parking. Two-story, 2-bed / 2-bath unit – This spacious unit includes a beautiful staircase, French doors with glass panes, updated kitchen, new flooring in several rooms, and a front sitting room in addition to a cozy living area. It also features a stunning hand-painted ceiling with cherubs and a chandelier, and two old, but unique fireplaces. 1-bed / 1-bath unit – Full of charm and character, this space includes a remodeled bathroom with a custom tile shower and flooring updates, offering generous living space for tenants or guests. Upstairs 1-bed / 1-bath unit – This unit has hardwood floors and is move-in ready, ideal for long-term rental or furnished short-term stays. In total, the property includes 4 bedrooms and 4 full bathrooms. A garage is located at the back of the property—currently in rough shape, but it could be used for storage or rebuilt with a city permit and clarification on lot lines for added value. The landscaped yard adds curb appeal and outdoor relaxation space for residents. Architectural highlights throughout the property include French doors, transom windows, fireplaces, built-ins, and other historic design elements that give the home its unique charm. Whether you're looking to generate steady monthly income, create a turnkey BnB, or live in one unit while building equity, this property is packed with opportunity.