3103 Grand Avenue, Des Moines, IA 50312
MULTI_FAMILY - Des Moines, IA
- Added:
- Apr 29, 2026
- Days on Market:
- 47
- Last Refresh:
- Jun 14 at 1:06 am
Property Features for 3103 Grand Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- R-4
- Bedrooms
- 9
- Bathrooms
- 9
- Rooms
- Bathroom 9, Bedroom 3, Bathroom 3, Bedroom 2, Bathroom 6, Bathroom 7, Bathroom 8, Bathroom 2, Bedroom 6, Bedroom 7, Bedroom 1, Bedroom 4, Bathroom 1, Bathroom 5, Basement, Bedroom 5, Bedroom 9, Bathroom 4, Bedroom 8
- Parking features
- Garage
- Appliances
- Refrigerator, Stove
- Standard status
- Active
- APN
- 09002175002000
- Size
- 3,967 SF
- Lot size
- 0.53 Acres
Taxes and HOA fees
- Tax Year
- 2026
- Tax Description
- -EX E 2.5F S225F & N75F- LT 9 BLK 2 GARVER PLACE
- Tax Annual Amount
- 10300
Utilities
- Sewer type
- Public Sewer
- Heating system
- Forced Air, Electric (Heating)
- Cooling system
- Window Unit(s)
- Water source
- Public
Building Details
- Year built
- 1913
- Number of units
- 7
- Flooring type
- Vinyl, Carpet
- Building materials
- Brick, WoodSiding
Listing agent Kyle Van Winkle License #64228000 (515) 276-2872
Listing office RE/MAX Concepts-Ames 2704 Stange Rd, IA (515) 276-2872
Listing date Apr 29, 2026
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
- Rare investment opportunity in the highly desirable Grand Avenue corridor.
- Strong income potential with 7 units in a multi‑family property.
- Excellent location with visibility and proximity to downtown, dining, retail, and cultural attractions.
- Recently remodeled units offering immediate cash‑flow possibilities.
- Well‑maintained building with character and charm.
- Garage parking available.
Overview
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 | $62.4k | $15.72 |
| − Vacancy | −$2.2k | −$0.57 |
| EGI | $60.1k | $15.15 |
| − OpEx | −$27.1k | −$6.82 |
| NOI | $33.1k | $8.33 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Des Moines
- County
- Polk
- State
- Iowa
- Longitude
- -93.659991
- Latitude
- 41.584858
