105 Ludland Drive, Manchester, IA 52057

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.