8-Unit Apartment
3274 E EUCLID AVE., Des Moines, IA 50317
For Sale
Contact for pricing
Updated interiors and individual exterior entrances serve all eight units.
Property Size5,568 SF
Price / SF$138.11
Days on Market106
Property Features for 3274 E EUCLID AVE.
General Information
Standard status
Size
Property subtype
Zoning
Investment Type
Net Operating Income
Site & Location
Neighborhood
Public Transit
Additional Details
Cap Rate
Multifamily Units
Building Details
Year Built
Units
Tenancy
Listing Agency:
KW Commercial Greater Des Moines
Listed By:
Jared Husmann · License IA B63372000
(515) 639-0145
Source:
Crexi
Added: Jul 31
Changed: Nov 10
Last Checked: Nov 12 at 6:41AM
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 8-unit apartment property contains 5,568 square feet and was built in 1977. The building has received substantial updates, including renovated interiors, luxury vinyl plank flooring, modern cabinetry, updated appliances, electrical panels, windows, and a newer roof. Each residence has its own exterior entrance, electric baseboard heat, and in-unit wall A/C, limiting reliance on shared building systems.
The property occupies a visible corner lot across from McDonald's at a signalized intersection and next to a bus stop. It is zoned N3b-4 Neighborhood District. More than 20 years of common ownership and the documented capital improvements provide a well-maintained physical profile, while the property is reported to support a 7.15% cap rate.
The property occupies a visible corner lot across from McDonald's at a signalized intersection and next to a bus stop. It is zoned N3b-4 Neighborhood District. More than 20 years of common ownership and the documented capital improvements provide a well-maintained physical profile, while the property is reported to support a 7.15% cap rate.
Key Highlights
- 8‑unit apartment property totaling 5568 SF
- Renovated interiors with luxury vinyl plank flooring and modern cabinetry
- Updated windows, appliances, electrical panels, and newer roof
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$46,408
Cap Rate
6.03%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$928,160
$928.2K
Cap Rate 7%
$662,971
$663.0K
Cap Rate 9%
$515,644
$515.6K
Market Conditions
NOI Build-Up for 5,568 SF
Gross rent
$87.5K $15.72/SF
− Vacancy
−$3.2K −$0.57/SF
EGI
$84.4K $15.15/SF
− OpEx
−$38.0K −$6.82/SF
NOI
$46.4K $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%
$928,160
Cap Rate 7%
$662,971
Cap Rate 9%
$515,644
Alternative Uses
Best Use
Apartment 5plus
$663.0K
$580.1K – $773.5K
NOI $46,408 @ 7.0% cap · market cap 6.03%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.37M
$1.20M – $1.60M
NOI $95,991 @ 7.0% cap · market cap 12.48%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
262
Businesses Nearby
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Business Placement
Demographics for 50317, IA
37,221
Population
15,193
Households
2.4
Avg Household Size
38
Median Age
15%
College-Educated
87%
High-School Grad
22.1 sq mi
ZIP Area
1,684
Density / Sq Mi
$61,569
Median Household Income
$36,641
Median Earnings
$1,079
Median Rent
$165,200
Median Home Value
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Market
Average Price Trend$/SF for Apartment buildings in Des Moines, IA
Properties on Market for Apartment buildings in Des Moines
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Apartment building - Updated interiors and individual exterior entrances serve all eight units.
Where is this apartment building located?
The property is located at 3274 E EUCLID AVE. Des Moines, IA.
What is the asking price?
The asking price for this property is $769,000.
What are key features of this property?
This property features: 8‑unit apartment property totaling 5568 SF; Renovated interiors with luxury vinyl plank flooring and modern cabinetry; Updated windows, appliances, electrical panels, and newer roof
