8-Unit Apartment
For Sale
Contact for pricing
3274 E EUCLID AVE., Des Moines, IA 50317
Updated interiors and individual exterior entrances serve all eight units.
Property Size5,568 SF
Price / SF$138.11
Days on Market9
Property Features for 3274 E EUCLID AVE.
General Information
Standard status
Active
Size
5,568 SF
Property subtype
Multifamily
Zoning
N3b-4 Neighborhood District
Investment Type
Stabilized
Net Operating Income
$55,017
Additional Details
Cap Rate
7.15%
Public Transit
Yes
Multifamily Units
8
Building Details
Year Built
1977
Units
8
Tenancy
Multi
Listing Agency:
KW Commercial Greater Des Moines
(515) 639-0145
Listed By:
Jared Husmann · License #B63372000
Source:
Crexi
Added: Jul 31
Changed: Aug 4
Last Checked: Aug 7 at 6:51AM
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
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 = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$46,408
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.03%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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
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.
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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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.
Property Analytics
Current Use
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
262
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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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
