Des Moines, IA Apartment Buildings for Sale

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Urbandale, IA Windsor Heights, IA Pleasant Hill, IA West Des Moines, IA Ankeny, IA Clive, IA Johnston, IA Altoona, IA

56 properties

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Updated: Jul 25

Renovated 7-Unit Brick Apartment Building

2447 E Walnut Street, Des Moines, IA 50317

$395,000

4,530 sqft 0.26 AC lot

7‑unit apartment building with 4,530 square feet
All 7 units recently completed full renovations
Brick construction from 1915 with rubber roof
0.259 acres at 2447 E Walnut Street, Des Moines, IA 50317
Forced‑air heating with natural gas service

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Updated: Jun 1

Five-Unit Victorian Apartment Building

3400 Ravina Drive, Des Moines, IA 50313

$190,000

4,067 sqft 0.37 AC lot

Five‑unit apartment property in a converted Victorian residence
4,067 square feet on 0.37 acres
Built in 1897 with ornate staircase, millwork, stained glass, and fireplace surround
Two units have newer kitchens and flooring; remaining units require substantial work
Two attached garage spaces plus two detached garage spaces

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Five-Unit Apartment Building

2931 Kingman Boulevard, Des Moines, IA 50311

$365,000

3,367 sqft 0.26 AC lot

Updated interiors, assigned off-street parking, and a detached garage support the property’s multifamily layout.

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Five-Unit Victorian Apartment Building

3400 Ravina Dr, Des Moines, IA 50313

$190,000

4,067 sqft 0.37 AC lot

Historic converted residence with original architectural details, multiple utility meters, garages, and renovation needs.

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6-Unit Apartment Building

1072 27th Street, Des Moines, IA 50311

$270,000

2,769 sqft 0.16 AC lot

Six-unit property near Drake University with one residence under renovation and five occupied units.

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Six-Unit Apartment Building

717 Franklin Avenue, Des Moines, IA 50314

$269,000

4,233 sqft 0.30 AC lot

Fully leased multifamily property with basement storage and a substantial on-site parking area.

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Income-Producing Multi-Family Property

717 Franklin Avenue, Des Moines, IA 50314

$269,000

4,233 sqft 0.30 AC lot

Six-unit property with rental income and potential for increases.

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Renovated 7-Unit Apartment Building

2447 E Walnut St, Des Moines, IA 50317

$395,000

4,530 sqft

Brick multifamily property with recently upgraded interiors throughout all residences.

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5-Unit Apartment Building

2303 Carpenter Avenue, Des Moines, IA 50311

$225,000

2,734 sqft 0.15 AC lot

Frame construction with natural-gas forced-air heating, located a short distance from Drake University.

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Seven-Unit Multifamily Property

3419 1st Street, Des Moines, IA 50313

$279,900

3,306 sqft 0.23 AC lot

Seven-unit multifamily building with a current rental certificate, separately metered utilities, and off-street parking with detached garage.

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12-Unit Apartment Building

Des Moines, IA 50317

$900,000

11,646 sqft

Fully occupied property with eat-in kitchens, private balconies or porches, and convenient interstate access.

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7-Unit Apartment Building

3419 First Street, Des Moines, IA 50313

$279,900

Fully leased property with separately metered utilities and a current rental certificate.

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Des Moines Apartment Community

2519 Clarkson Avenue, Des Moines, IA 50310

$2,655,000

27,360 sqft

45-unit apartment community with renovated units in Des Moines, Iowa.

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Historic 8-Unit Apartment Building

Des Moines, IA 50312

$1,000,000

10,653 sqft

Updated units, a new boiler, and a mix of one- and two-bedroom layouts distinguish this historic multifamily property.

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5-Unit Apartment Building

1439 Henderson Ave, Des Moines, IA 50316

$339,900

3,510 sqft

Fully occupied apartment property with two-bedroom units, off-street parking, and access to downtown amenities and major roadways.

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Apartment Building With Historic Character

612 29th St, Des Moines, IA 50312

$370,000

3,670 sqft

Multifamily asset near walkable retail, dining, coffee, shopping, and downtown amenities.

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36-Unit Apartment Building

1201 East Bell Avenue, Des Moines, IA 50315

$2,146,697

25,323 sqft

The 1997 property offers a varied mix of one-, two-, and three-bedroom residences.

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6-Unit Apartment Building

1072 27th St, Des Moines, IA 50311

$270,000

2,769 sqft

Six-unit multifamily property with one residence under renovation and the remaining units occupied.

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12-Unit Apartment Building

1195 Northwest Aurora Avenue, Des Moines, IA 50313

$672,043

15,844 sqft

Multifamily property with consistent two-bedroom, one-bath unit layouts.

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Small Multifamily Investment

2303 Carpenter Ave, Des Moines, IA 50311

$225,000

2,734 sqft

Five-unit multifamily property located just blocks from Drake University.

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Updated 5-Unit Apartment Building

2931 Kingman Blvd, Des Moines, IA 50311

$365,000

3,367 sqft

Updated interiors, separately metered electrical service, and assigned off-street parking support the five-unit configuration.

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7-Unit Apartment Building

1800 9th Street, Des Moines, IA 50314

$307,219

18,005 sqft

One-bedroom units include shared laundry and landlord-paid heat, water, sewer, trash, and common-area utilities.

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8-Unit Apartment Building

3274 E. EUCLID AVE., Des Moines, IA 50317

Contact for pricing

5,568 sqft

Updated interiors and individual exterior entrances serve all eight units.

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Six-Unit Apartment Building

717 Franklin Ave, Des Moines, IA 50314

$269,000

4,233 sqft

Fully leased property with basement storage and a large on-site parking area.

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Des Moines, IA Apartment Buildings Market Trends and Statistics

Explore 72 apartment buildings for sale in Des Moines, IA, showcased through 56 active listings on our real estate platform. These investment opportunities span a total of 340,634 square feet of properties for sale, with an estimated market value of $29,597,659.

Sale prices for two-family homes in Des Moines, IA start at $190,000, averaging $1,096,209, and reaching up to $8,700,000 — offering options for a variety of budgets and business needs. Daily updated analytics ensure you stay ahead with the latest data and market trends.

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Demographics Overview

Population 306K

Population Growth (5Y) +2.6%

Median Household Income $80,154

College Educated 12.6%

High-Yield Neighborhoods for Investment

Identify Des Moines submarkets with the highest inventory density on the market and evaluate the average listing prices of real estate assets

Neighborhood	Average Price
50311	$286.7K
50313	$322.4K
50316	$339.9K
50314	$557.8K
50312	$685K

Taxes & Financing

Tax Rate (average for all types) 3.09%

Property Tax per SF $42.10 per SF

Tax Rate vs County Average 0.49 pp above county avg

Average Loan-to-Value 65.0%

Listings Trend

New vs delisted commercial listings in Polk County

New Delisted

Total CRE Inventory on Market (SF)

Average Property Price per SF

For-sale pricing trends across core commercial property types in Polk County

Residential Income

Property Size Breakdown

The majority of commercial real estate listings in Des Moines fall within the 100,000+ square foot range.

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