Four-Unit Walkable
For Sale
$370,000
2905 High St, Des Moines, IA 50312
Established multifamily property near restaurants, coffee shops, breweries, and everyday neighborhood conveniences.
Property Size3,374 SF
Price / SF$109.66
Days on Market54
Property Features for 2905 High St
General Information
Standard status
Active
Size
3,374 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
4
Building Details
Year Built
1929
Listing Agency:
Realty ONE Group Impact
Listed By:
Sarah Shaffer
(319) 621-6811
Source:
Mistysoldteamiowa
Added: Aug 21
Changed: Oct 3
Last Checked: Oct 7 at 2:56PM
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 Realty ONE Group Impact
Investment Insights
Based on property information with market context.
This four-unit quadplex at 2905 High St in Des Moines, Iowa, contains 3,374 square feet and was built in 1929. The property offers a multifamily configuration suited to residential income use within an established neighborhood setting.
The property is located a short distance from the Ingersoll Avenue corridor, with restaurants, coffee shops, breweries, and daily conveniences accessible on foot. Downtown Des Moines, the Western Gateway, and nearby employment centers are also identified as accessible from the property, adding broader connectivity to the surrounding neighborhood context.
The property is located a short distance from the Ingersoll Avenue corridor, with restaurants, coffee shops, breweries, and daily conveniences accessible on foot. Downtown Des Moines, the Western Gateway, and nearby employment centers are also identified as accessible from the property, adding broader connectivity to the surrounding neighborhood context.
Key Highlights
- Four‑unit quadplex at 2905 High St, Des Moines, IA 50312
- 3,374 square feet of property size
- Built in 1929
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,478
Cap Rate
8.51%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$629,560
$629.6K
Cap Rate 7%
$449,686
$449.7K
Cap Rate 9%
$349,756
$349.8K
Market Conditions
NOI Build-Up for 3,374 SF
Gross rent
$46.6K $13.80/SF
− Vacancy
−$1.6K −$0.47/SF
EGI
$45.0K $13.33/SF
− OpEx
−$13.5K −$4.00/SF
NOI
$31.5K $9.33/SF
Area
Des Moines, IA
Vacancy
3.42%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$629,560
Cap Rate 7%
$449,686
Cap Rate 9%
$349,756
Alternative Uses
Best Use
Multifamily LT 5
$449.7K
$393.5K – $524.6K
NOI $31,478 @ 7.0% cap · market cap 8.51%
Second Best
Apartment 5plus
$401.7K
$351.5K – $468.7K
NOI $28,121 @ 7.0% cap · market cap 7.60%
Theoretical Best
Office A
$831.0K
$727.1K – $969.5K
NOI $58,167 @ 7.0% cap · market cap 15.72%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,073
Businesses Nearby
Explore this area
Business Placement
Demographics for 50312, IA
15,485
Population
8,285
Households
1.9
Avg Household Size
40
Median Age
62%
College-Educated
98%
High-School Grad
5.6 sq mi
ZIP Area
2,765
Density / Sq Mi
$82,720
Median Household Income
$54,862
Median Earnings
$1,057
Median Rent
$274,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Quadplex - Established multifamily property near restaurants, coffee shops, breweries, and everyday neighborhood conveniences.
Where is this quadplex located?
The property is located at 2905 High St Des Moines, IA.
What is the asking price?
The asking price for this property is $370,000.
What are key features of this property?
This property features: Four‑unit quadplex at 2905 High St, Des Moines, IA 50312; 3,374 square feet of property size; Built in 1929
