218 Northwest State Street, Ankeny, IA 50023
Well-maintained 32-unit apartment complex in Ankeny, Iowa.
- Added:
- Mar 25, 2026
- Days on Market:
- 106
- Last Refresh:
- Jul 4 at 12:29 am
Property Features for 218 Northwest State Street
General Information
- Standard status
- Active
- Size
- 25,600 SF
- Property subtype
- Multifamily
Listing office (515) 415-6111
Listing date Mar 25, 2026
Source Cbre
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 Ray Hamilton
HighLights
- Located in Ankeny, Iowa, a rapidly growing suburb of Des Moines.
- Well‑maintained 32‑unit multifamily community.
- All units are 2‑bedroom, 1‑bath floor plans.
- Convenient access to Ankeny Centennial High School, Prairie Ridge Sports Complex, John Deere Des Moines Works, and various retail, dining, and recreational amenities.
- Four buildings with a total rentable area of 25,600 SF.
- Surface parking available.
Overview
Local Financial Insights For Apartment 5plus
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 | $384.0k | $15.00 |
| − Vacancy | −$23.0k | −$0.90 |
| EGI | $361.0k | $14.10 |
| − OpEx | −$162.4k | −$6.35 |
| NOI | $198.5k | $7.76 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Ankeny
- County
- Polk
- State
- Iowa
- Longitude
- -93.6219377
- Latitude
- 41.7344715
