811 16th St - Apartments FOR SALE


Des Moines, IA 50314- Sherman Hill
$850,000 USD
515-334-4900
811 16th St, Des Moines, IA for Sale
$850,000 USD
Apartments - FOR SALE
1/15
null | 5.01% Cap Rate

811 16th St
Des Moines, IA 50314
Sherman Hill


HIGHLIGHTS

  • True 5.01% Cap Rate – with room for increased returns through rent growth
  • Historic Character in a prime location with hardwood floors and original built-ins
  • 10.2% Upside in Rents – offering a strategic value-add play in a desirable neighborhood

OVERVIEW

The KataLYST Team by KW Commercial is proud to exclusively present 811 16th St. in Des Moines, IA; a well-maintained, historic property in the highly sought-after Sherman Hill neighborhood. Featuring timeless charm with real hardwood floors, original built-ins, and solid craftsmanship, this asset offers both aesthetic appeal and strong fundamentals. Currently operating at a true 5.01% cap rate, the property presents a compelling value-add opportunity withprojected rental upside of 10.2% as market rents continue to strengthen. Ideal for investors looking for a stable returnwith long-term growth potential.

FOR SALE DETAILS

PRICE

$850,000 USD

PRICE/SF

$107 USD /SF

# OF UNITS

9

PRICE/UNIT

$94,444

CAP RATE

5.01%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

The Delester Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1915

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.14 AC

LAND SF

6,098 SF

ZONING

R-HD

APN/PARCEL ID

030-01050001000

ASK ABOUT THIS PROPERTY

Jared HusmannThe KataLYST TeamMore Info
515-334-4900

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Jared HusmannThe KataLYST TeamMore Info
515-334-4900

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