Renovated Triplex Near
1112 27th St, Des Moines, IA 50311
For Sale
$300,000
Recent building improvements include updated kitchens, appliances, windows, siding, flooring, roof, and air conditioning.
Property Size1,900 SF
Price / SF$157.89
Days on Market99
Property Features for 1112 27th St
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Additional Details
Multifamily Units
Building Details
Year Built
Buildings
Listing Agency:
Iowa Realty Beaverdale
Listed By:
Allen Lundgren
(515) 453-5760
Source:
Mistysoldteamiowa
Added: Aug 8
Changed: Oct 25
Last Checked: Oct 7 at 4:19PM
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 Iowa Realty Beaverdale
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Investment Insights
Based on property information with market context.
This 1,900-square-foot triplex at 1112 27th St features renovations completed within 5 years, including a replacement roof, air-conditioning updates, newer windows, vinyl siding, LVP flooring, and refreshed kitchens with updated appliances. The property also includes a basement with egress windows already installed and garage parking that may support additional rental income. Coin-operated laundry could be added as another potential improvement.
Located 1 block from Drake, the property has an established rental history and presents a three-unit configuration for an income-producing residential asset. The improvements and existing features provide a straightforward operating profile while leaving defined options for further enhancement.
Located 1 block from Drake, the property has an established rental history and presents a three-unit configuration for an income-producing residential asset. The improvements and existing features provide a straightforward operating profile while leaving defined options for further enhancement.
Key Highlights
- Triplex with 1,900 square feet of property size
- Renovations completed within 5 years
- Updated roof, A/C, windows, vinyl siding, and LVP flooring
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,726
Cap Rate
5.91%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$354,520
$354.5K
Cap Rate 7%
$253,229
$253.2K
Cap Rate 9%
$196,956
$197.0K
Market Conditions
NOI Build-Up for 1,900 SF
Gross rent
$26.2K $13.80/SF
− Vacancy
−$897 −$0.47/SF
EGI
$25.3K $13.33/SF
− OpEx
−$7.6K −$4.00/SF
NOI
$17.7K $9.33/SF
Area
Des Moines, IA
Vacancy
3.42%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$354,520
Cap Rate 7%
$253,229
Cap Rate 9%
$196,956
Alternative Uses
Best Use
Multifamily LT 5
$253.2K
$221.6K – $295.4K
NOI $17,726 @ 7.0% cap · market cap 5.91%
Second Best
Apartment 5plus
$226.2K
$198.0K – $263.9K
NOI $15,836 @ 7.0% cap · market cap 5.28%
Theoretical Best
Office A
$467.9K
$409.4K – $545.9K
NOI $32,755 @ 7.0% cap · market cap 10.92%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
667
Businesses Nearby
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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?
Triplex - Recent building improvements include updated kitchens, appliances, windows, siding, flooring, roof, and air conditioning.
Where is this triplex located?
The property is located at 1112 27th St Des Moines, IA.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: Triplex with 1,900 square feet of property size; Renovations completed within 5 years; Updated roof, A/C, windows, vinyl siding, and LVP flooring
