6657 NW 6th Dr

Highlights:

• 16 Unit Apartments
• Purchase Price: $1,400,000
• Fully Occupied and Cashflowing
• Proforma: NOI: $118,346
• CapRate: 8.45%
• Located between Des Moines and Ankeny

Description:

Introducing an exceptional investment opportunity in Saylorville, this multifamily property comprises two 8-unit buildings, offering a total of 16 units. Unit mix includes (12) 2/1 Units and (4) 1/1 Units
The property features ample parking and is situated in a desirable location, nestled between Ankeny and Des Moines. Close to amenities such as grocery stores, restaurants, and entertainment, it offers convenience and appeal to tenants. Just under 3 miles from the Prairie Trail District and 2.5 miles from Interstates 80 & 35, this property provides accessibility and connectivity.

With a 100% occupancy rate and a reliable income stream, this investment presents an opportunity for a lucrative return.

Currently renting below market value at an average of $785, there is potential to increase rents to $975. The property's good condition makes it feasible to quickly raise rents, enhancing its potential for increased income.

Introducing an exceptional investment opportunity in Saylorville, this multifamily property comprises two 8-unit buildings, offering a total of 16 units. The property features ample parking and is situated in a desirable location, nestled between Ankeny and Des Moines. Close to amenities such as grocery stores, restaurants, and entertainment, it offers convenience and appeal to tenants. Just under 3 miles from the Prairie Trail District and 2.5 miles from Interstates 80 & 35, this property provides accessibility and connectivity.

Des Moines is a very stable real estate market compared to many other areas. With extremely low unemployment, growing jobs and population Des Moines offers a lot of long-term potential for investors. Iowa is one of the best states for landlord protections and is a friendly state to do business. Des Moines has been increasing in population and jobs as well because of the low cost of living, but the high standard of living.

A vibrant gem in the heart of the prairie, Des Moines is named for the river that snakes through the city. This is Iowa's capital (and the county seat of Polk County), and it is filled with things to do. From concerts at the historic Salisbury House to the collections at Des Moines Art Center, and from the 81 miles of hiking and biking trails to the Greater Des Moines Botanical Gardens, Des Moines offers so much that it was named one of the top 10 cities in which to live by US News.

Home to such companies as John Deere, Pioneer, Corteva, Meredith Corporation, Wells Fargo, Voya Financial, and Principal Financial Group, Des Moines is considered one of the nation's wealthiest cities.

Greater Des Moines is vibrant, growing and experiencing tremendous momentum. Metrics such as gross domestic product growth, population growth and employment growth show DSM as one of the strongest metros in the Midwest. Greater Des Moines is home to many business successes and has received numerous accolades over the past several years. These recognitions include being named one of the top 10 best cities to live and work, one of the best cities for jobs, one of the top 10 places with the most job opportunities per capita and a top metro for economic development projects. Such accomplishments can be attributed to DSM’s talented workforce, impressive education ranking and strong business economy. 

Documents: