Duplex Portfolio with Four
801 & 807 E Mckinley Avenue Des Moines, IA 50315
For Sale
$550,000
MULTI_FAMILY - Other - Des Moines, IA
Property Size3,499 SF
Lot Size0.28 Acres
Price / SF$157.19
Days on Market45
Property Features for 801 & 807 E Mckinley Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- N3A
- Bedrooms
- 8
- Bathrooms
- 4
- Rooms
- Bedroom 4, Bedroom 2, Bedroom 3, Bathroom 2, Bathroom 3, Bedroom 7, Bedroom 1, Bathroom 4, Basement, Bedroom 6, Bedroom 8, Bathroom 1, Bedroom 5
- Appliances
- Dishwasher, Microwave, Refrigerator, Stove
- Standard status
- Active
- APN
- 12000138103003 & 120/00138-102-000
- Size
- 3,499 SF
- Lot size
- 0.28 Acres
Taxes and HOA fees
- Tax Description
- LOT 3 BELNOR HEIGHTS PLAT 2
- Tax Annual Amount
- 9817
Utilities
- Sewer type
- Public Sewer
- Heating system
- Natural Gas, Forced Air
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Year built
- 1984
- Floors in Building
- 2
- Number of units
- 4
- Flooring type
- Carpet
- Roof type
- Shingle, Asphalt
- Architectural style
- Other
Listing Agency:
RE/MAX Precision
(515) 223-9492
Listed By:
Dustin Kupka · License #S65754000
(515) 681-7001
Added: Jun 9
Changed: Jul 11
Last Checked: Jul 23 at 11:06PM
MLS# 742720
Copyright © 2026 Des Moines Area Association 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.
Investment Insights
Based on property information with market context.
This for-sale duplex portfolio includes 801 and 807 E. McKinley Avenue, positioned side by side to streamline management and maintenance. The four total units each offer 3 bedrooms plus additional finished basement space, with functional floor plans that also include walkout basements and spacious backyards. The property encompasses 0.277 acres and totals 3,499 square feet.
Per the seller, the combined gross monthly income for both duplexes is $4,830. Tenants are responsible for all utilities, including water, sewer, storm water, gas, electric, lawn care, and snow removal. The owner is responsible for snow removal of the parking areas due to the shared driveways. Additionally, unit 803 has new furnace and AC installed in 2022.
Located just off E. McKinley Avenue in a South Des Moines neighborhood, the portfolio also presents an option to expand with other available properties from the same owner: 707, 715, and 815 E. McKinley Avenue.
Per the seller, the combined gross monthly income for both duplexes is $4,830. Tenants are responsible for all utilities, including water, sewer, storm water, gas, electric, lawn care, and snow removal. The owner is responsible for snow removal of the parking areas due to the shared driveways. Additionally, unit 803 has new furnace and AC installed in 2022.
Located just off E. McKinley Avenue in a South Des Moines neighborhood, the portfolio also presents an option to expand with other available properties from the same owner: 707, 715, and 815 E. McKinley Avenue.
Key Highlights
- Two duplexes side by side at 801 & 807 E. McKinley Ave. (4 total units).
- Combined gross monthly income for both duplexes is $4,830.
- All four units are 3‑bedroom units with additional finished basement square footage.
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $48.3k | $13.80 |
| − Vacancy | −$1.7k | −$0.47 |
| EGI | $46.6k | $13.33 |
| − OpEx | −$14.0k | −$4.00 |
| NOI | $32.6k | $9.33 |
3,499 SF · lease $13.80/SF/yr · vacancy 3.42% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$466.3K
$408.1K – $544.1K
NOI $32,644 @ 7.0% cap · market cap 5.94%
Second Best
Apartment 5plus
$416.6K
$364.5K – $486.1K
NOI $29,163 @ 7.0% cap · market cap 5.30%
Theoretical Best
Office A
$861.7K
$754.0K – $1.01M
NOI $60,322 @ 7.0% cap · market cap 10.97%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Quadplexes
FAQs
What type of property is this?
Quadplex - Two side-by-side duplexes offer four 3-bedroom units with finished basement space and tenant-paid utilities.
Where is this quadplex located?
The property is located at 801 & 807 E Mckinley Avenue Des Moines, IA.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Two duplexes side by side at 801 & 807 E. McKinley Ave. (4 total units).; Combined gross monthly income for both duplexes is $4,830.; All four units are 3‑bedroom units with additional finished basement square footage.
