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37-Unit Apartment Building with Garages
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For Sale
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1201 Center Street, Des Moines, IA 50309

Recently built townhome community with rooftop patios, quartz kitchens, and convenient access to downtown employment and amenities.

Property SizeContact for details
Days on Market7

Property Features for 1201 Center Street

General Information

Standard status Active
Property subtype Multifamily
Listed By: Cy Fox
Source: Cbre
Added: Sep 16 Last Checked: Sep 21 at 3:59AM

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 Cy Fox

Investment Insights

Based on property information with market context.

Completed in 2024, this apartment building comprises 37 two-bedroom townhomes averaging 2,173 square feet. Residences feature attached two-car garages, private rooftop patios, floor-to-ceiling windows, and gourmet kitchens with quartz countertops. The layouts are identified as 2BR/2.4BA, combining substantial living areas with contemporary finishes.

The property is located at 1201 Center Street in Des Moines, just off Keosauqua Way and Interstate 235. UnityPoint Health – Iowa Methodist Medical Center is within walking distance, while Downtown Des Moines employment centers, dining, entertainment, and recreational amenities are also readily accessible.

Key Highlights

  • 37 townhomes constructed in 2024
  • Two‑bedroom townhomes averaging 2,173 square feet
  • 2BR/2.4BA layouts

Property Analytics

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Current Use

Matilda 235 Townhomes Apartment Complex

Suggested Use

Top Pick Auto Parts Store Big Box & Wholesale Store HVAC Service (Bike/Boat/Book/etc) Store Furniture & Home Goods Storage Facility

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

5,230
Businesses Nearby

Demographics for 50309, IA

9,532
Population
7,562
Households
1.3
Avg Household Size
30
Median Age
67%
College-Educated
96%
High-School Grad
2.7 sq mi
ZIP Area
3,530
Density / Sq Mi
$57,974
Median Household Income
$52,775
Median Earnings
$1,166
Median Rent
$286,900
Median Home Value
Check the figures for this property Cap Rate, Value Estimation, Potential NOI and more
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Market

Vacancy Rate% for Multifamily in Midwest region

6.5% 2022
7.5% 2023
7.8% 2024
8% 2025
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Frequently Asked Questions

What type of property is this?
Apartment building - Recently built townhome community with rooftop patios, quartz kitchens, and convenient access to downtown employment and amenities.
Where is this apartment building located?
The property is located at 1201 Center Street Des Moines, IA.
What are key features of this property?
This property features: 37 townhomes constructed in 2024; Two‑bedroom townhomes averaging 2,173 square feet; 2BR/2.4BA layouts
More about this property
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