Overview

Description

Rare 4-plex in a great neighborhood in the heart of Urbandale. Property has newer roof, windows and updated interiors.
5 stall garage, lots of parking and lot of open greenspace gives the tenants space to enjoy the property without feeling cramped in an apartment.
Property consists of three 1 Bed, 1 Bath units and one studio.

Coin-Op Laundry in basement common area.

Great Value-Add components to this property with bumping up rents to market levels.

This lot is also primed for a larger multifamily property as well. Pull down this 4-plex and build an 8 or 12 unit building.

This 4-plex is located in a wonderful residential neighborhood backing up to $400,000+ homes.
In the heart of desirable Urbandale, IA.
Just off of 86th St, this property is very close to lots of restaurants, retail, entertainment, grocery, etc. Everything a tenant will need.
2 miles to all Interstates 80, 35, and 235. 12 minutes to both Downtown and Jordan Creek.

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.

Highlights

• 4-Plex Opportunity with some Value Add
• Proforma NOI: $23,466
• CapRate: 7.82%
• Desirable Urbandale Location

Documents

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