5-Unit Apartment
1439 Henderson Ave, Des Moines, IA 50316
For Sale
$339,900
Fully occupied apartment property with two-bedroom units, off-street parking, and access to downtown amenities and major roadways.
Property Size3,510 SF
Price / SF$96.84
Days on Market94
Property Features for 1439 Henderson Ave
General Information
Standard status
Size
Property subtype
Occupancy
Site & Location
Neighborhood
Road Access
Units
Unit Mix
Multifamily Units
Building Details
Year Built
Buildings
Listing Agency:
RE/MAX Concepts
Listed By:
Steve Wiederin
(515) 771-3253
Source:
Dsmsold
Added: Aug 6
Changed: Oct 26
Last Checked: Nov 6 at 11:37AM
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 RE/MAX Concepts
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Investment Insights
Based on property information with market context.
This 5-unit apartment building contains 3,510 SF and was built in 1900. Each residence offers a two-bedroom, one-bathroom configuration, and the property is currently 100% occupied with several long-term tenants. Off-street parking serves the building.
Located at 1439 Henderson Ave in Des Moines, the property sits just off NE 14th with access to downtown, shopping, dining, and major roadways. The combination of established tenancy, consistent occupancy, and practical unit layouts provides a straightforward multifamily asset for sale.
Located at 1439 Henderson Ave in Des Moines, the property sits just off NE 14th with access to downtown, shopping, dining, and major roadways. The combination of established tenancy, consistent occupancy, and practical unit layouts provides a straightforward multifamily asset for sale.
Key Highlights
- 5‑unit apartment building with 3,510 SF
- 100% occupied with several long‑term tenants
- Each unit includes 2 bedrooms and 1 bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,255
Cap Rate
8.61%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$585,100
$585.1K
Cap Rate 7%
$417,929
$417.9K
Cap Rate 9%
$325,056
$325.1K
Market Conditions
NOI Build-Up for 3,510 SF
Gross rent
$55.2K $15.72/SF
− Vacancy
−$2.0K −$0.57/SF
EGI
$53.2K $15.15/SF
− OpEx
−$23.9K −$6.82/SF
NOI
$29.3K $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%
$585,100
Cap Rate 7%
$417,929
Cap Rate 9%
$325,056
Alternative Uses
Best Use
Apartment 5plus
$417.9K
$365.7K – $487.6K
NOI $29,255 @ 7.0% cap · market cap 8.61%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$864.4K
$756.4K – $1.01M
NOI $60,511 @ 7.0% cap · market cap 17.80%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
5
Residential units
100%
Occupancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
485
Businesses Nearby
Explore this area
Business Placement
Demographics for 50316, IA
16,785
Population
6,002
Households
2.8
Avg Household Size
33
Median Age
13%
College-Educated
78%
High-School Grad
3.6 sq mi
ZIP Area
4,663
Density / Sq Mi
$53,090
Median Household Income
$33,994
Median Earnings
$963
Median Rent
$137,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Apartment buildings in Des Moines, IA
Properties on Market for Apartment buildings in Des Moines
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Apartment building - Fully occupied apartment property with two-bedroom units, off-street parking, and access to downtown amenities and major roadways.
Where is this apartment building located?
The property is located at 1439 Henderson Ave Des Moines, IA.
What is the asking price?
The asking price for this property is $339,900.
What are key features of this property?
This property features: 5‑unit apartment building with 3,510 SF; 100% occupied with several long‑term tenants; Each unit includes 2 bedrooms and 1 bathroom
