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12 Beds
8 Baths
39,031 sqft

$995,000

165 S CHET KRAUSE DRIVE Unit: 185, Iola WI, 54945

Price per sqft$25.49
Built in1965
Property size39,031 sqft
Property typeMulti-family

Overview

Active

Listed Jan 14, 2026

Updated Sep 5

Investment Opportunity! Discover this unique 12-unit apartment complex located in the Village of Iola! Spanning an entire block, this property consists of two combined buildings with over 39,000 square feet and offers ample space with potential to add additional units or repurpose the other square footage. The complex features off-street parking for tenants, on-site laundry, and inviting common gathering areas, perfect for socializing, card nights, or game day Sundays. Unit layouts include a mix of 2-bedroom/1-bath and 1-bedroom/1-bath apartments. The property boasts a strong rental history, and all units are currently occupied. The other building has potential to be repurposed or could be other potential uses. It was formerly used as a medical facility. The construction materials would be difficult to duplicate for the price this one is being offered at. Lower level features additional storage areas and utility rooms. There is a ton of potential with all the square footage this property has to offer, plus the cash flow from the 12 units that is currently in place makes this a rare investment opportunity. Don’t miss, schedule your showing today!

$6,620/mo

Est. mortgage payment based on a $995,000 home price.

All estimates are provided by Luxury Presence for informational purposes only. Actual amounts may vary.

Additional information

MLS® ID
22600132

Interior Features

Bedrooms
12
Bathrooms
8
Heating
Yes
Basement
Yes

Other Property Details

Taxes
$13,064
Tax Frequency
Annually
MLS provider logo

Listing Contact: 800-746-9464 

Based on information from the Central Wisconsin Multiple Listing Service Corporation as of 9/5/2026. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.

©2026 Central Wisconsin Multiple Listing Service Corporation all rights reserved.

Data last updated on 9/5/2026 at 4:58 AM UTC

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