515-415-6131
1231 15th St, Des Moines, IA for Sale
Multi-Family - FOR SALE
1/11
null | Request Cap Rate

1231 15th St
Des Moines, IA 50314
King-Irving Park


HIGHLIGHTS

  • Average Year Built: 1929
  • Average SF: 1,295
  • Average Unit Mix: 3.08 bed/1.36 bath
  • Average Monthly Rent: $1,429
  • Gross Potential Monthly Rent: $127,193
  • Gross Potential Annual Rent: $1,526,316

OVERVIEW

CBRE is pleased to offer an opportunity to acquire a portfolio of 85 single family rentals (SFR) and 4 duplexes all located within the Des Moines MSA. The portfolio is characterized by a blend of suburban charm and urban convenience. These neighborhoods feature tree-lined streets, historic homes, and vibrant community atmospheres. Residents enjoy easy access to local parks, boutique shops, and diverse dining options. The portfolio experiences minimal vacancies Each property averages nearly 1,300 SF Unit mix includes (1) 1 bed/1 bath, (27) 2 bed/1 bath, (26) 3 bed/1 bath, (8) 3 bed/ 2 bath, (1) 3 bed/3 bath, (3) 4 bed, 1 bath, (15) 4 bed/2 bath, (1) 5 bed/1 bath, (5) 5 bed/2 bath, (2) 6 bed/2 bath Majority of the properties feature detached garages Residents are responsible for all utilities, lawn care, and snow removal Several of the homes have below-market rents, allowing a new investor to increase rents organically in response to the rising demand for SFRs in the current interest rate environment Business plan optionality for new ownership Properties may be held in perpetuity for cash flow, or sold off via multiple disposition strategies as outlined below: - Sell off in smaller clusters and 1031 proceeds into a condensed property - Sell to existing tenants - Sell individually Please click here for more information: https://www.cbredealflow.com/buyer/agreement?pv=5DBhbhcFETelYQA2S_jx71R7xr6tvVr0x5le7Iqsp41qmBmk95gGOdbWv_2Z2pso Please click here to view a map of the portfolio: https://www.google.com/maps/d/u/0/viewer?mid=1UfZy6rbJuFWMpw7UWRi11bD46ekicNk&ll=41.577992685524016%2C-93.60895624999999&z=12

FOR SALE DETAILS

PRICE

Request Info for Price

# OF UNITS

94

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Des Moines Single Family Rental Portfolio

PROPERTY TYPE

Multi-Family

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1929

PARKING SPACES

-

LAND DETAILS

LAND ACRES

-

LAND SF

-

ZONING

-

APN/PARCEL ID

080-00457000000

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515-415-6131

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515-415-6131

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