Multifamily Property in Drake
2936 Brattleboro Avenue Des Moines, IA 50311
2936 Brattleboro Avenue, Des Moines, IA, 50311
$330,000
Pending
For Sale
$330,000
Pending
MULTI_FAMILY - Other - Des Moines, IA
Property Size2,522 SF
Lot Size0.23 Acres
Days on Market175
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, Basement, Bathroom 3, Bathroom 1, Bedroom 2, Bedroom 3, Bathroom 4, Bedroom 1, Bathroom 5, Bedroom 4
- 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
- Forced Air, Electric (Heating), Baseboard, Natural Gas
- Cooling system
- Window Unit(s)
- Water source
- Public
Building Details
- Year built
- 1895
- Floors in Building
- 2
- Number of units
- 5
- Flooring type
- Laminate, Carpet
- Building materials
- MetalSiding
- Roof type
- Shingle, Asphalt
- Architectural style
- Other
Listing Agency
Epique Realty
(319) 540-1002
4515 N River Blvd NE #200, Spencer, IA
Listed by
Shonna Murrey
(515) 612-8939
Added: Jan 23 Checked: Jul 17 at 4:06 pm
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.
Investment Insights
Based on property information with market context.
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.
Key Highlights
- 5‑unit multifamily in the Drake area: four 1‑bedroom units plus one efficiency
- Current rents: $800 (Unit 1), $675 (Unit 2), $500 (Unit 3), $550 (Unit 4), $800 (Unit 5)
- Tenants pay their own electric with separate meters in place; landlord expenses limited to water, house electric, and gas for the water heater
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
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
NOI $43,478 @ 7.0% cap · market cap 13.18%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
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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: $800 (Unit 1), $675 (Unit 2), $500 (Unit 3), $550 (Unit 4), $800 (Unit 5); Tenants pay their own electric with separate meters in place; landlord expenses limited to water, house electric, and gas for the water heater
