6-Unit Apartment
For Sale
$270,000
1072 27th St, Des Moines, IA 50311
Six-unit multifamily property with one residence under renovation and the remaining units occupied.
Property Size2,769 SF
Price / SF$97.51
Days on Market66
Property Features for 1072 27th St
General Information
Standard status
Active
Size
2,769 SF
Property subtype
Multi-Family
Building Details
Year Built
1900
Listing Agency:
Iotis Realty, LLC
Listed By:
Scott Leff
(888) 554-6847
Source:
Dsmsold
Added: Aug 12
Changed: Oct 14
Last Checked: Oct 16 at 1:43PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Iotis Realty, LLC
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This six-unit apartment property is located at 1072 27th St in Des Moines, Iowa. One residence is undergoing remodeling, while the other five units are occupied, providing an existing operating profile for review.
The property is near Drake University, with the source information identifying university employees, graduate students, and young professionals as part of the surrounding tenant pool. Walk and bike scores are also noted for the location.
The property is near Drake University, with the source information identifying university employees, graduate students, and young professionals as part of the surrounding tenant pool. Walk and bike scores are also noted for the location.
Key Highlights
- Six‑unit apartment property in Des Moines, IA
- One unit is being remodeled
- Five units are occupied
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,079
Cap Rate
8.55%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$461,580
$461.6K
Cap Rate 7%
$329,700
$329.7K
Cap Rate 9%
$256,433
$256.4K
Market Conditions
NOI Build-Up for 2,769 SF
Gross rent
$43.5K $15.72/SF
− Vacancy
−$1.6K −$0.57/SF
EGI
$42.0K $15.15/SF
− OpEx
−$18.9K −$6.82/SF
NOI
$23.1K $8.33/SF
Area
Des Moines, IA
Vacancy
3.60%
Lease Rate
$15.72 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$461,580
Cap Rate 7%
$329,700
Cap Rate 9%
$256,433
Alternative Uses
Best Use
Apartment 5plus
$329.7K
$288.5K – $384.7K
NOI $23,079 @ 7.0% cap · market cap 8.55%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$682.0K
$596.7K – $795.6K
NOI $47,737 @ 7.0% cap · market cap 17.68%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
679
Businesses Nearby
Explore this area
Business Placement
Demographics for 50311, IA
14,782
Population
7,180
Households
2.1
Avg Household Size
30
Median Age
41%
College-Educated
94%
High-School Grad
2.6 sq mi
ZIP Area
5,685
Density / Sq Mi
$63,233
Median Household Income
$35,086
Median Earnings
$1,019
Median Rent
$228,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Apartment building - Six-unit multifamily property with one residence under renovation and the remaining units occupied.
Where is this apartment building located?
The property is located at 1072 27th St Des Moines, IA.
What is the asking price?
The asking price for this property is $270,000.
What are key features of this property?
This property features: Six‑unit apartment property in Des Moines, IA; One unit is being remodeled; Five units are occupied
