1069-1075 33rd St, Des Moines Multi-Family FOR SALE


Des Moines, IA - Drake
$950,000 USD
515-290-7568
, Des Moines, IA for Sale
$950,000 USD
Multi-Family - FOR SALE
1/9
null | 7.67% Cap Rate

1069-1075 33rd St, Des Moines
Des Moines, IA
Drake


HIGHLIGHTS

  • Proven Upside with Lesser Rent Comps
  • Located Near Drake University, Major Thoroughfares & Employers
  • Priced Strongly!
  • Value Add Opportunity

OVERVIEW

This 14-unit multifamily asset features thirteen 2-bedroom units (800 SF) and one 1-bedroom unit (650 SF) across two adjacent buildings with 12 garages. Current average rents are $833/month with upside to $895/month, supported by nearby rent comps. Built in 1914 and 1968, the properties total approximately 10,523 SF and are located in a prime central Des Moines location near Drake University, major medical centers, schools, and employers. At the $950,000 asking price, the property offers a 7.67% proforma cap rate and an attractive basis of $67,857 per unit. Investors will benefit from reliable in-place income, rental growth potential, and long-term appreciation in one of the Midwest’s fastest-growing metros. Des Moines ranks among the nation’s top markets for affordability, quality of life, and business growth, making this opportunity an excellent fit for both local and out-of-state investors seeking stable cash flow with meaningful upside.

ASK ABOUT THIS PROPERTY

Chandler MartinMidwest Investment BrokersMore Info
515-290-7568

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Chandler MartinMidwest Investment BrokersMore Info
515-290-7568

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.