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    2936 E Walnut St Des Moines, IA 50317

    For Sale
    $225,000

    Six Plex - Des Moines, IA

    Lot size:
    0.28 Acres
    Days on Market:
    32
    Last Refresh:
    Dec 5 at 4:06 pm

    Property Features for 2936 E Walnut St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Zoning
    N3C
    APN
    05000800001000
    Exterior features
    Shopping
    Lot size
    0.28 Acres

    Utilities

    Heating system
    Forced Air, Natural Gas
    Cooling system
    Multi Units, Window Unit(s)

    Building Details

    Year built
    1870
    Architectural style
    Other

    RE/MAX REAL ESTATE CENTER 2324663 [email protected]

    Listing agent Quartz Team Realty 2324663 License #S66743

    Listing date Nov 4, 2025

    MLS# 68865 Listing URL

    Copyright © 2025 Central Iowa Board of Realtors, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Des Moines Six-Plex Investment Opportunity

    This property features a 4-plex and a detached single-family home on a single lot, offering multiple income streams. The property currently generates $3,750 per month in rent from five units, with rents at $650, $650, $650, $850, and $950. The two upstairs units have long-term tenants, while the other units present opportunities for rent increases or improvements. The landlord currently covers all utilities, presenting a value-add opportunity for a new owner to transition to tenant-paid utilities and increase cash flow. There is ample off-street parking available, which can generate additional income during the State Fair due to increased parking demand. The property is located steps from the Iowa State Fairgrounds. The lot size is 0.28 acres.
    Property Profile Location Intelligence

    Current Use by Public Records

    Single family properties

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Des Moines
    County
    Polk
    State
    Iowa
    Longitude
    -93.5594705
    Latitude
    41.5937696

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    FAQs

    What type of property is this?
    Apartment building - Multifamily property near Iowa State Fairgrounds with income potential.
    Where is this apartment building located?
    The property is located at 2936 E Walnut St Des Moines, IA.
    What is the asking price?
    The asking price for this property is $225,000.
    What are key features of this property?
    This property features: - 5-unit property (4-plex + detached single-family home) provides multiple income streams.; - Proximity to the Iowa State Fairgrounds offers income potential from parking during the fair.; - Current rental income of $3,750/month.
    2324663
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2936 E Walnut St Des Moines, IA 50317
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