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    Multifamily Property in Drake Area Title is generated by Realmo AI

    2936 Brattleboro Avenue, Des Moines, IA 50311

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    Claim this Listing
    Pending
    $330,000

    MULTI_FAMILY - Other - Des Moines, IA

    Property size:
    2,522 SF
    Lot size:
    0.23 Acres
    Added:
    Jan 23, 2026
    Days on Market:
    149
    Last Refresh:
    Jun 21 at 1:06 pm

    Property Features for 2936 Brattleboro Avenue

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    R1-60
    Bedrooms
    4
    Bathrooms
    5
    Rooms
    Bathroom 2, Bathroom 5, Bedroom 2, Bathroom 1, Bedroom 1, Bedroom 3, Bathroom 3, Bedroom 4, Bathroom 4, Basement
    Parking features
    Garage
    Appliances
    Dryer, Microwave, Refrigerator, Stove, Washer
    Standard status
    Pending
    APN
    09003675000000
    Size
    2,522 SF
    Lot size
    0.23 Acres

    Taxes and HOA fees

    Tax Description
    LOT 72 & E 1/2 LOT 73 KINGMAN PLACE
    Tax Annual Amount
    4599

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Electric (Heating), Baseboard, Natural Gas, Forced Air
    Cooling system
    Window Unit(s)
    Water source
    Public

    Building Details

    Year built
    1895
    Floors in Building
    2
    Number of units
    5
    Flooring type
    Carpet, Laminate
    Building materials
    MetalSiding
    Roof type
    Shingle, Asphalt
    Architectural style
    Other

    We can help!

    Listing Contact
    Shonna Murrey

    Listing agent Shonna Murrey

    Listing office Epique Realty 4515 N River Blvd NE #200, Spencer, IA

    Listing date Jan 23, 2026

    MLS# 733321 Listing URL

    Copyright © 2026 Des Moines Area Association of REALTORS®, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 5‑unit multifamily in the Drake area: four 1‑bedroom units plus one efficiency
    • Current rents: Unit 1 $800, Unit 2 $675, Unit 3 $500, Unit 4 $550, Unit 5 $800
    • Separate electric metering for tenant‑paid electric; landlord covers water, house electric, and gas for the water heater
    • Recent system improvement: conversion to electric heat (previously dual furnaces)
    • Laundry and storage: coin‑operated laundry in the basement and extra storage in the unfinished attic and basement
    • Detached 2‑car garage plus garage parking; metal siding with asphalt shingle roof

    Overview

    This five-unit multifamily property is located in the Drake area. The building features four one-bedroom units and one efficiency. Current rent levels are Unit 1: $800, Unit 2: $675, Unit 3: $500, Unit 4: $550, and Unit 5: $800. Recent system improvements include a conversion to electric heat. Tenants pay their own electric, with separate meters already in place. Landlord expenses are limited to water, house electric, and gas for the water heater. Additional income and value features include coin-operated laundry in the basement, a two-car detached garage, and extra storage in the unfinished attic and basement. The property is suited for investors seeking a low-turnover asset with multiple income streams, clean utility separation, and long-term hold potential in a proven rental location. The property size is 2,522 square feet and the lot size is 0.227 acres.

    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 $39.6k $15.72
    − Vacancy −$1.4k −$0.57
    EGI $38.2k $15.15
    − OpEx −$17.2k −$6.82
    NOI $21.0k $8.33
    2,522 SF · lease $15.72/SF/yr · vacancy 3.60% · expense 45.00%

    Alternative Uses

    Best Use
    Apartment 5plus
    $300.3K
    $262.8K – $350.3K (±1% cap)
    NOI $21,020 @ 7.0% cap · market cap 6.37%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Office A
    $621.1K
    $543.5K – $724.6K (±1% cap)
    NOI $43,478 @ 7.0% cap · market cap 13.18%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Des Moines
    County
    Polk
    State
    Iowa
    Longitude
    -93.658714
    Latitude
    41.599183

    FAQs

    What type of property is this?
    Apartment building - Five-unit building with income potential in Des Moines, Iowa.
    Where is this apartment building located?
    The property is located at 2936 Brattleboro Avenue Des Moines, IA.
    What is the asking price?
    The asking price for this property is $330,000.
    What are key features of this property?
    This property features: 5‑unit multifamily in the Drake area: four 1‑bedroom units plus one efficiency; Current rents: Unit 1 $800, Unit 2 $675, Unit 3 $500, Unit 4 $550, Unit 5 $800; Separate electric metering for tenant‑paid electric; landlord covers water, house electric, and gas for the water heater
    More about this property
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