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$995,000 Just Listed

  • For Sale
  • Active
  • Multi-Family
  • Updated 3 days ago
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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

Full Property Details for 165 S Chet Krause Dr #185

General

  • Price: $995,000
  • Taxes: $13,064 (2025)
  • Status: Active
  • Type: Multi-Family
  • Source: Wirex_Central_Wisconsin_Board_of_Realtors_CWBR
  • MLS ID: 22600132
  • Updated: 1/14/2026
  • Added to Site: 3 day(s) ago

Interior

  • Interior Features: Ceiling Fan(s), Smoke Detector(s), Cable/Satellite Available, Walk-In Closets
  • Appliances: Refrigerator, Range/Oven

Exterior

  • Exterior Features: Deck, Patio

Parking

  • Garage Description: None

Location

  • Municipality: Iola
  • County: Waupaca
  • Driving Directions: on Chet Krause Drive

School Information

  • School District: Iola-Scandinavi
  • Elementary School: Iola-Scandinavi
  • Middle School: Iola-Scandinavi
  • High School: Iola-Scandinavi

Utilities

  • Water/Sewer: Municipal Water, Municipal Sewer

Structural Information

  • Description/Design: Complex, 1 Story
  • Exterior Const.: Brick/Stone, Vinyl, Other
  • Roof: Shingle, Flat, Other
  • Year Built: 1965

Unit Information

  • Units in Building: 12

Unit 1

  • Bedrooms: 1

Unit 2

  • Bedrooms: 2

Unit 3

  • Total Bathrooms: 1
  • Bedrooms: 1

Unit 4

  • Total Bathrooms: 1
  • Bedrooms: 2

Lot Features

  • Lot Size (Acres): 116,741
  • Zoning: Multi-Family

Financial Considerations

  • Tax Amount: $13,064.01
  • Tax Year: 2025

Listed by Kpr Brokers, Llc

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— 165 S Chet Krause Dr #185 —

  • Kpr Brokers, Llc

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NMLS#: 1598647

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Schools serving 165 S Chet Krause Dr #185

School District:Iola-Scandinavia School District
NameGradesDistance
Iola-Scandinavia Elementary School
450 Division Street, Iola, WI 54945
PK-60.3 mi
Iola-Scandinavia High School
540 South Jackson Street, Iola, WI 54945
7-120.3 mi
Disclaimer: School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 165 S Chet Krause Dr #185 Get Price Alerts and Save Property

Date
Details
Price
Change
Source
1/14/2026
Listed
$995,000
40.14%
MLS
2/04/2022
Sold
$710,000
—
Public Record
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Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Tax History for 165 S Chet Krause Dr #185

Year
Property Taxes
Change
Tax Assessment
Change
2024
$31
-9%
$2,600
100%
2023
$34
-3%
$1,300
—
2022
$35
-3%
$1,300
—
2021
$36
-5%
$1,300
—
2020
$38
—
$1,300
—
2019
$38
3%
$1,300
—
2018
$37
3%
$1,300
—
2016
$36
—
$1,300
—
2015
$36
—
$1,300
—
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

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Listed by Kpr Brokers, Llc

165 S Chet Krause Drive #185, Iola, WI 54945 (MLS# 22600132) is a Multi-Family property with units containing 0 bedrooms and 0 full bathrooms. 165 S Chet Krause Drive #185 is currently listed for $995,000 and was received on January 14, 2026. Want to learn more about 165 S Chet Krause Drive #185? Do you have questions about finding other Multi-Family real estate for sale in Iola? You can browse all Iola real estate or contact a Coldwell Banker agent to request more information.

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