1112 27th Street Des Moines, IA 50311
MULTI_FAMILY - Other - Des Moines, IA
Property Features for 1112 27th Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- N5
- Bedrooms
- 3
- Bathrooms
- 3
- Rooms
- Bedroom 1, Basement, Bathroom 3, Bedroom 3, Bedroom 2, Bathroom 1, Bathroom 2
- Parking features
- Garage
- Appliances
- Microwave, Refrigerator, Stove
- Standard status
- Active
- APN
- 03001389000000
- Size
- 1,900 SF
- Lot size
- 0.13 Acres
Taxes and HOA fees
- Tax Description
- LOT 49 DRAKE UNIVERSITY ADD
- Tax Annual Amount
- 3616
Utilities
- Sewer type
- Public Sewer
- Heating system
- Natural Gas
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Year built
- 1898
- Floors in Building
- 2
- Building materials
- VinylSiding
- Roof type
- Asphalt, Shingle
- Architectural style
- Other
Listing agent Allen Lundgren (515) 453-5760
Listing office Iowa Realty Beaverdale 3521 Beaver Ave, West Des Moines, IA (515) 453-5900
Listing date Jun 26, 2026
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.
The home is positioned about one block from Drake and sits on zoning N5. Additional basement expansion possibilities are noted, with egress windows already in place. Other income opportunities mentioned include charging for garage parking and adding coin laundry.
With renovations largely completed and the property presented as move-in ready, this triplex is configured as a residential income property with potential to further optimize basement and amenity-related revenue based on the stated features and improvements.
Local 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 | $26.2k | $13.80 |
| − Vacancy | −$897 | −$0.47 |
| EGI | $25.3k | $13.33 |
| − OpEx | −$7.6k | −$4.00 |
| NOI | $17.7k | $9.33 |
