Renovated 12-Unit Multifamily
2411 WELBECK RD Des Moines, IA 50310
2411 WELBECK RD, Des Moines, IA, 50310
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For Sale
Contact for pricing
Twelve fully renovated 2-bedroom units are offered with residential utility bill-back in place.
Property Size8,784 SF
Price / SF$108.15
Days on Market87
Property Features for 2411 WELBECK RD
General Information
- Standard status
- Active
- Size
- 8,784 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1968
Listing agency
KW Commercial Greater Des Moines
(515) 639-0145
Listed by
Jared Husmann · License #B63372000
Source
Crexi
Added: Apr 28 Updated: Jul 22 at 3:55PM Checked: Jul 22 at 3:55PM
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 KW Commercial Greater Des Moines
Investment Insights
Based on property information with market context.
This 12-unit multifamily property features all 2Bd/1Ba apartments that have been fully renovated. The offering includes residential utility bill-back (RUBS), and the property is supported by professional management on site.
The asset is located at 2411 Wellbeck Road in Des Moines, Iowa, and is being marketed for sale. The seller is open to creative financing options, including owner financing.
Designed for consistent residential income, the building’s current unit mix is uniform across the property, with each unit positioned as fully renovated 2-bedroom living space.
The asset is located at 2411 Wellbeck Road in Des Moines, Iowa, and is being marketed for sale. The seller is open to creative financing options, including owner financing.
Designed for consistent residential income, the building’s current unit mix is uniform across the property, with each unit positioned as fully renovated 2-bedroom living space.
Key Highlights
- 12‑unit multifamily property built in 1968
- All units are fully renovated 2‑bed/1‑bath layouts
- Residential Utility Bill‑Back (RUBS) in place
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 | $138.1k | $15.72 |
| − Vacancy | −$5.0k | −$0.57 |
| EGI | $133.1k | $15.15 |
| − OpEx | −$59.9k | −$6.82 |
| NOI | $73.2k | $8.33 |
8,784 SF · lease $15.72/SF/yr · vacancy 3.60% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.05M
$915.2K – $1.22M
NOI $73,212 @ 7.0% cap · market cap 7.71%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.16M
$1.89M – $2.52M
NOI $151,433 @ 7.0% cap · market cap 15.94%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Twelve fully renovated 2-bedroom units are offered with residential utility bill-back in place.
Where is this apartment building located?
The property is located at 2411 WELBECK RD Des Moines, IA.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: 12‑unit multifamily property built in 1968; All units are fully renovated 2‑bed/1‑bath layouts; Residential Utility Bill‑Back (RUBS) in place
