Four-Unit Apartment
842 16th Street Des Moines, IA 50314
For Sale
Contact for pricing
Four 1BR/1BA units feature in-unit washers/dryers and kitchenettes, with all units currently leased.
Property Size3,070 SF
Price / SF$105.86
Days on Market80
Property Features for 842 16th Street
General Information
- Standard status
- Active
- Size
- 3,070 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1893
Listing Agency:
Stanbrough Realty
(515) 689-2612
Listed By:
Ross Quintero · License #S63415000
Source:
Crexi
Added: May 6
Changed: Jul 20
Last Checked: Jul 23 at 4:24PM
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 Stanbrough Realty
Investment Insights
Based on property information with market context.
This charming four-unit apartment building offers all 1BR/1BA layouts. Each unit includes in-unit washers/dryers and full kitchenettes, along with hardwood flooring, full tub/shower bathrooms, fireplaces, built-in bookshelves, and large windows designed to bring in natural light. Bedrooms are described as large, and the property is presented as fully occupied with all units 100% leased.
The building is located in the Sherman Hill neighborhood of Des Moines. The offering includes a total property size of 3,070 square feet.
From a tenant-readiness standpoint, the unit interiors are described as well-equipped with dedicated laundry, kitchenettes, and in-unit bathroom facilities, while common living areas include hardwood flooring and fireplace features.
The building is located in the Sherman Hill neighborhood of Des Moines. The offering includes a total property size of 3,070 square feet.
From a tenant-readiness standpoint, the unit interiors are described as well-equipped with dedicated laundry, kitchenettes, and in-unit bathroom facilities, while common living areas include hardwood flooring and fireplace features.
Key Highlights
- 4‑unit apartment building built in 1893
- All units are 1BR/1BA (750 SF each) with full kitchenettes
- In‑unit washers/dryers in every unit
Financial Insights For Multifamily LT 5
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 | $42.4k | $13.80 |
| − Vacancy | −$1.4k | −$0.47 |
| EGI | $40.9k | $13.33 |
| − OpEx | −$12.3k | −$4.00 |
| NOI | $28.6k | $9.33 |
3,070 SF · lease $13.80/SF/yr · vacancy 3.42% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$409.2K
$358.0K – $477.4K
NOI $28,642 @ 7.0% cap · market cap 8.81%
Second Best
Apartment 5plus
$365.5K
$319.9K – $426.5K
NOI $25,588 @ 7.0% cap · market cap 7.87%
Theoretical Best
Office A
$756.1K
$661.6K – $882.1K
NOI $52,926 @ 7.0% cap · market cap 16.28%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Quadplexes
FAQs
What type of property is this?
Quadplex - Four 1BR/1BA units feature in-unit washers/dryers and kitchenettes, with all units currently leased.
Where is this quadplex located?
The property is located at 842 16th Street Des Moines, IA.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: 4‑unit apartment building built in 1893; All units are 1BR/1BA (750 SF each) with full kitchenettes; In‑unit washers/dryers in every unit
