Value-Add Multifamily Apartment
For Sale
$5,900,000
920 Meadow Lane, Des Moines, IA 50315
102-unit apartment community across multiple parcels with surface parking in Des Moines, Iowa.
Property SizeContact for details
Lot Size6.86 Acres
Days on Market79
Property Features for 920 Meadow Lane
General Information
Standard status
Active
Lot size
6.86 Acres
Property subtype
Multifamily
Additional Details
Cap Rate
7.58%
Multifamily Units
102
Building Details
Year Built
1979
Tenancy
Multi
Listing Agency:
(515) 415-6109
Listed By:
Cy Fox
(515) 415-6109
Source:
Cbre
Added: Jun 3
Changed: Aug 17
Last Checked: Aug 20 at 9:11AM
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.
Valley Acres Apartments is a 102-unit multifamily community built in 1971, 1972, 1976, and 1979. The unit mix includes 62 one-bedroom units (1BA) and 38 two-bedroom units (1BA), plus 2 three-bedroom units (1BA). The property features surface parking and consists of multiple parcels, totaling 6.864 acres across 8 parcels, which can support flexible future disposition strategies.
The community is located just off SW 9th Street, a primary north–south arterial, while still positioned within a stable residential neighborhood setting. Valley Acres is also minutes from Des Moines International Airport, which is currently undergoing a $600 million expansion. Nearby points of interest and daily needs include Blank Park Zoo and Southridge Mall, along with retailers such as Target, Hy Vee, Marshalls, Hobby Lobby, and Menards.
For investors or operators looking for a multifamily asset with controlled infill positioning, the multi-parcel configuration provides the ability to maintain cohesive management across buildings while preserving optionality at the parcel level. The property’s established unit mix and long-term occupancy profile may support an operations-focused approach that includes targeted renovations within the existing community framework.
The community is located just off SW 9th Street, a primary north–south arterial, while still positioned within a stable residential neighborhood setting. Valley Acres is also minutes from Des Moines International Airport, which is currently undergoing a $600 million expansion. Nearby points of interest and daily needs include Blank Park Zoo and Southridge Mall, along with retailers such as Target, Hy Vee, Marshalls, Hobby Lobby, and Menards.
For investors or operators looking for a multifamily asset with controlled infill positioning, the multi-parcel configuration provides the ability to maintain cohesive management across buildings while preserving optionality at the parcel level. The property’s established unit mix and long-term occupancy profile may support an operations-focused approach that includes targeted renovations within the existing community framework.
Key Highlights
- 102‑unit multifamily community in Des Moines, IA across 8 parcels on 6.864 acres
- Unit mix: 62 1BR/1BA, 38 2BR/1BA, and 2 3BR/1BA
- Average unit size listed as 778 SF with average in‑place rent of $791
Property Analytics
Property Profile
Current Use
Lease Details
102
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
114
Businesses Nearby
Explore this area
Business Placement
Demographics for 50315, IA
36,693
Population
16,579
Households
2.2
Avg Household Size
36
Median Age
18%
College-Educated
87%
High-School Grad
10.3 sq mi
ZIP Area
3,562
Density / Sq Mi
$62,036
Median Household Income
$41,311
Median Earnings
$977
Median Rent
$164,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Apartment building - 102-unit apartment community across multiple parcels with surface parking in Des Moines, Iowa.
Where is this apartment building located?
The property is located at 920 Meadow Lane Des Moines, IA.
What is the asking price?
The asking price for this property is $5,900,000.
What are key features of this property?
This property features: 102‑unit multifamily community in Des Moines, IA across 8 parcels on 6.864 acres; Unit mix: 62 1BR/1BA, 38 2BR/1BA, and 2 3BR/1BA; Average unit size listed as 778 SF with average in‑place rent of $791
