Description
ONLINE ONLY AUCTION * IOWA COMMERCIAL REAL ESTATE * 15-UNIT CONDOMINIUM PORTFOLIO
The Jewel Condominiums – 2nd Level | Newton, Iowa
Online Bidding Ends: April 30th at 6:00 PM (Central Time)
Register & Bid Online: www.BidHeritage.HiBid.com
Property Address: 104 1st Ave E Units 1-15 Newton, IA 50208
Downtown Investment Opportunity with Upside
Located in the heart of downtown Newton, across from the courthouse, this offering includes 15 deeded condominium units selling as a complete portfolio. A rare opportunity to acquire and complete a nearly finished multifamily redevelopment project.
Property Highlights
– 15 Total Units (All Deeded Condominiums)
– 10 Units Nearly Complete
– Renovated with quality Amish craftsmanship
– 5 Units Ready for Completion
– Taken down to the studs
– Some remaining building materials on-site
– Total Building Area: 7,693 ± Sq. Ft.
– Unit Mix:
– 11 – 1 Bedroom
– 4 – Efficiency Units
– Common Areas Updated
– Located on the 2nd level of the historic Jewel Building
– (2) Entrances: 1st Avenue & 1st Street
– Taxes: $7,552 (2025)
– HOA Association Dues: $12,250
Building Features
– City water & sewer
– Electric forced air heat
– Central air conditioning
– Concrete streets, sidewalks, and walkable downtown location
– Elevator service
– New Roof replaced (2025)
Investment Potential
This project was a passion redevelopment by the current owner and remains vacant, allowing a new investor to complete construction and implement their own leasing or resale strategy.
Ideal for investors seeking:
– Multi-family portfolio opportunity
– Desirable location, near completion
– Strong small-market rental demand
Auction Details
– Online-Only Bidding: www.bidheritage.hibid.com
– Offering: All 15 condo units as (1) portfolio package
– Online Bidding Ends: April 30th at 6:00 PM (CT)
– Terms: Cash and closing on or before 30 days following auction
Showings & Information
It is highly encouraged that prospective bidders tour the property and conduct their own assessment, prior to bidding. The Property will be open for preview on the following dates.
– Saturday, April 11th at 10:00am to 12:00pm (CST)
– Saturday, April 25th at 10:00am to 12:00pm (CST)
To arrange a tour of the property, please contact Scot Bergman with Agency Iowa, at the contact information below.
Contact
For details, due diligence materials, or to schedule a tour contact:
Scot Bergman, associate broker
Agency Iowa
License: #B66742000
Direct: (515) 571-4363
Email: scotbergmanrealestate@gmail.com
Disclaimer
All information is believed to be accurate but not guaranteed. Buyers should conduct their own due diligence and personally inspect the property prior to bidding. Property is being offered at auction in “As Is” condition.
