1120 5th St - Apartments FOR SALE


West Des Moines, IA 50265- Outer West Des Moines/Urbandale
$925,000 USD
515-290-7568
1120 5th St, West Des Moines, IA for Sale
$925,000 USD
Apartments - FOR SALE
1/6
null | 7.57% Cap Rate

1120 5th St
West Des Moines, IA 50265
Outer West Des Moines/Urbandale


HIGHLIGHTS

  • Strong Upside in Current Condition!
  • Capture Loss to Lease & Improve Operations
  • Great Location & Well-Maintained!
  • Very large & rare units

OVERVIEW

Rare West Des Moines investment opportunity! Two-story brick 8-plex apartment building. This property has 8 1,000 Sq. Ft. 2 bedroom, 2 bath units each with a large patio or deck and 6 detached electric garages. Each unit has a stove, dishwasher, refrigerator, and microwave. Coin operated laundry. Excellent opportunity with lots of upside. Current average rents are at $950 and market rents at $1,100. Long-term residents at $895 and the latest tenants at $995-1,025. Electric garage rent is at an average of $48 with market rents being $75-100. Beyond increasing cash flow, the long-term hold approach is the real appeal. West Des Moines is highly sought after and the appreciation is inevitable.

FOR SALE DETAILS

PRICE

$925,000 USD

PRICE/SF

$105 USD /SF

# OF UNITS

8

PRICE/UNIT

$115,625

CAP RATE

7.57%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1998

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.91 AC

LAND SF

39,492 SF

ZONING

RM

APN/PARCEL ID

320-04115076000

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.