Residential Land for Sale in Bloomfield, Iowa

Rare value-add redevelopment opportunity with major upside potential. Situated on approximately 3.5 acres, this former motel property offers the ideal setup for an apartment conversion, workforce housing project, extended stay concept, or mixed-use redevelopment. The existing layout creates an opportunity to reposition the asset into income-producing multifamily units while leveraging the large site for future expansion, additional amenities, storage, parking, or new construction opportunities. Strong demand for affordable housing and rentals in the area makes this a compelling play for investors, developers, and operators looking for forced appreciation. In addition to the redevelopment parcel, the offering includes another parcel generating supplemental income, creating immediate cash flow while plans and improvements are underway.