2419 Cottage Grove Ave - Apartments FOR SALE


Des Moines, IA 50311- Drake
$675,000 USD
319-231-1160
2419 Cottage Grove Ave, Des Moines, IA for Sale
$675,000 USD
Apartments - FOR SALE
1/27
null | 9.73% Cap Rate

2419 Cottage Grove Ave
Des Moines, IA 50311
Drake


HIGHLIGHTS

  • 8 Units: (6) 2-beds, (2) 1-beds
  • Prime location 2 blocks from Drake University and Downtown
  • 2 blocks from Interstate 235
  • Well-maintained, attractive brick construction
  • Potential for increased income with low rents and month-to-month tenancy
  • Coin-op laundry and untapped basement storage for added income

OVERVIEW

Introducing The Cutler Apartments, a historic gem located just blocks from Drake University, Downtown,and Interstate 235, offering unparalleled convenience for residents. This solid brick construction property is in great shape, with spacious units over 1200sf each. Tenants enjoy 2 bedrooms, a living room, dining room, and two additional versatile rooms, making it an ideal living space. Great for work-from-home office. The month-to-month tenancy allows for a seamless transition, and the current low rents present an opportunity for increased income. The property features coin-op laundry for extra revenue and untapped storage space that could generate additional income. Tenants pay for their electricity, while the owner covers common areas, heat, and water. With ample parking and easy commuting, this property is an attractive choice for tenants. Whether it's the proximity to key locations, the spacious units, or the potential for increased income, The Cutler presents a unique opportunity for multifamily investors seeking a blend of historical charm and financial potential. Experience the unparalleled energy and potential of this sought-after location, just two blocks away from downtown Des Moines and Drake University. With close proximity to Interstate 235 and just 2 blocks from Smokey Row, tenants enjoy quick and easy access to major employers, educational institutions, and all the metro has to offer. Whether they work downtown, study at Drake University,or seek easy access to the greater metro area, this prime location provides an ideal home base for tenants looking for convenience, connectivity, and urban living at its best.

FOR SALE DETAILS

PRICE

$675,000 USD

PRICE/SF

$63 USD /SF

# OF UNITS

8

PRICE/UNIT

$84,375

CAP RATE

9.73%

% LEASED

88%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

The Cutler

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

1910

PARKING SPACES

30

LAND DETAILS

LAND ACRES

0.15 AC

LAND SF

6,534 SF

ZONING

R-3

APN/PARCEL ID

030-06188000000

ASK ABOUT THIS PROPERTY

Chase Keller, CCIMCHASE. CollectiveMore Info
319-231-1160

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Chase Keller, CCIMCHASE. CollectiveMore Info
319-231-1160

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