Three-Unit Residential
3833 6th Ave, Des Moines, IA 50313
For Sale
$249,900
Two units occupy the main building, with a third living space in a separate rear unit.
Property Size2,656 SF
Price / SF$94.09
Days on Market77
Property Features for 3833 6th Ave
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Additional Details
Multifamily Units
Building Details
Year Built
Buildings
Listing Agency:
NextHome Your Way
Listed By:
Kevin Frank
(515) 776-7081
Source:
Desmoineshomesforsale
Added: Aug 26
Changed: Nov 8
Last Checked: Nov 8 at 7:16AM
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 NextHome Your Way
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Investment Insights
Based on property information with market context.
Built in 1923, this residential triplex has 2,656 square feet of combined living area. Two units are located in the main building, while a separate rear unit provides the third residence. Both buildings have newer roofs, and selected units have received improvements.
The property is in Des Moines’ Highland Park area, near shopping, dining, and major roadways.
The property is in Des Moines’ Highland Park area, near shopping, dining, and major roadways.
Key Highlights
- Three living units across the main building and a separate rear unit
- 2,656 square feet of combined living area
- Built in 1923; both buildings have newer roofs and selected units have been improved
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,137
Cap Rate
8.86%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$442,740
$442.7K
Cap Rate 7%
$316,243
$316.2K
Cap Rate 9%
$245,967
$246.0K
Market Conditions
NOI Build-Up for 2,656 SF
Gross rent
$41.8K $15.72/SF
− Vacancy
−$1.5K −$0.57/SF
EGI
$40.2K $15.15/SF
− OpEx
−$18.1K −$6.82/SF
NOI
$22.1K $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%
$442,740
Cap Rate 7%
$316,243
Cap Rate 9%
$245,967
Alternative Uses
Best Use
Multifamily LT 5
$354.0K
$309.7K – $413.0K
NOI $24,779 @ 7.0% cap · market cap 9.92%
Second Best
Apartment 5plus
$316.2K
$276.7K – $369.0K
NOI $22,137 @ 7.0% cap · market cap 8.86%
Theoretical Best
Office A
$654.1K
$572.4K – $763.2K
NOI $45,789 @ 7.0% cap · market cap 18.32%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
465
Businesses Nearby
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Business Placement
Demographics for 50313, IA
17,723
Population
7,674
Households
2.3
Avg Household Size
37
Median Age
16%
College-Educated
86%
High-School Grad
18.1 sq mi
ZIP Area
979
Density / Sq Mi
$64,077
Median Household Income
$36,284
Median Earnings
$1,077
Median Rent
$161,800
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Triplex - Two units occupy the main building, with a third living space in a separate rear unit.
Where is this triplex located?
The property is located at 3833 6th Ave Des Moines, IA.
What is the asking price?
The asking price for this property is $249,900.
What are key features of this property?
This property features: Three living units across the main building and a separate rear unit; 2,656 square feet of combined living area; Built in 1923; both buildings have newer roofs and selected units have been improved
