Renovated 12-Unit Multifamily
For Sale
Contact for pricing
2411 WELBECK RD, Des Moines, IA 50310
Twelve fully renovated 2-bedroom units are offered with residential utility bill-back in place.
Property Size8,784 SF
Price / SF$102.46
Days on Market179
Property Features for 2411 WELBECK RD
General Information
Standard status
Active
Size
8,784 SF
Property subtype
Multifamily
Zoning
N3A
Net Operating Income
$52,341
Building Details
Year Built
1968
Stories
3
Units
12
Listing Agency:
KW Commercial Greater Des Moines
Listed By:
Jared Husmann · License #B63372000
(515) 639-0145
Source:
Crexi
Added: Apr 28
Changed: Oct 18
Last Checked: Oct 20 at 7:38PM
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
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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
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$73,212
Cap Rate
8.13%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,464,240
$1.5M
Cap Rate 7%
$1,045,886
$1.0M
Cap Rate 9%
$813,467
$813.5K
Market Conditions
NOI Build-Up for 8,784 SF
Gross rent
$138.1K $15.72/SF
− Vacancy
−$5.0K −$0.57/SF
EGI
$133.1K $15.15/SF
− OpEx
−$59.9K −$6.82/SF
NOI
$73.2K $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%
$1,464,240
Cap Rate 7%
$1,045,886
Cap Rate 9%
$813,467
Alternative Uses
Best Use
Apartment 5plus
$1.05M
$915.2K – $1.22M
NOI $73,212 @ 7.0% cap · market cap 8.13%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.16M
$1.89M – $2.52M
NOI $151,433 @ 7.0% cap · market cap 16.83%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
870
Businesses Nearby
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Business Placement
Demographics for 50310, IA
30,754
Population
14,162
Households
2.2
Avg Household Size
37
Median Age
36%
College-Educated
86%
High-School Grad
8.0 sq mi
ZIP Area
3,844
Density / Sq Mi
$74,473
Median Household Income
$46,091
Median Earnings
$1,043
Median Rent
$213,800
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
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 $900,000.
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
