704 12Th St, West Des Moines, IA 50265

11 Unit Apartment Building | $1,100,000 ($100,000/Unit) | 8.05% Cap Rate | West Des Moines, IA 50265

Asking Price $1,100,000

Property Type: Multifamily
Square Feet: 6,640 SF

Listing Contacts

Jared Husmann

Verified Profile

Property Info

Property Overview

The KataLYST Team as part of KW Commercial is pleased to bring to market this 11-plex located in Valley Junction, West Des Moines, IA. This property was recently purchased as part of a larger portfolio and prior to the sale had only one owner over the last 30+ years who took immaculate care of the property and truly showed pride of ownership!
With great unit mixes and low rents that are estimated to be 30%+ below market, this property offers significant value-add through repositioning!

Property Details

Class: C
Year Built: 1965
Stories: 2
Lot Size (sq. ft): 16,553 SF
Units: 11

Highlights

This 11-unit multifamily property offers a Pro-Forma CAP Rate of 8.05% and a gross rent multiplier (GRM) of 7.21, making it a solid investment with si
With only one owner over the last 30+ years, the property has been meticulously cared for, showing true pride of ownership.
The property has great unit mixes with rents estimated to be 30%+ below market, providing substantial value-add potential through repositioning.

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