12-Unit Quadplex
9125-9143 Calvin Drive, West Des Moines, IA 50266
For Sale
$1,176,000
Three separate four-unit buildings offer acquisition flexibility, individually or as a combined community.
Property Size7,372 SF
Price / SF$159.52
Days on Market692
Property Features for 9125-9143 Calvin Drive
General Information
Standard status
Size
Property subtype
Additional Details
Asking Price
Building Details
Year Built
Buildings
Listing Agency:
Stanbrough Realty Company
(515) 334-3345
Listed By:
Andrew McCune · License IA S64937000
(515) 402-1642
Source:
Prometrorealty
Added: Dec 18, 2024
Changed: Nov 9
Last Checked: Nov 8 at 5:17PM
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 Company
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
The community comprises 12 townhomes across three four-unit buildings, with the option to acquire one building or the full group. Each residence has three bedrooms, 2.5 bathrooms, an open-plan main level, and a finished lower level that can serve as a family room or potential fourth bedroom. Interior features include white cabinetry, quartz counters, stainless steel appliances, and LVP flooring on the main level. Upstairs are a primary suite with a double-sink vanity and walk-in closet, two additional bedrooms, a full bathroom, and a laundry room with washer and dryer.
The property is located in West Des Moines, Iowa. Buildings are addressed on Harmony Avenue and Calvin Drive.
The property is located in West Des Moines, Iowa. Buildings are addressed on Harmony Avenue and Calvin Drive.
Key Highlights
- 12 townhome units arranged in three four‑unit buildings
- Each residence includes 3 bedrooms and 2.5 bathrooms
- Finished lower level can function as a family room or potential fourth bedroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$65,402
Cap Rate
5.56%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,308,040
$1.3M
Cap Rate 7%
$934,314
$934.3K
Cap Rate 9%
$726,689
$726.7K
Market Conditions
NOI Build-Up for 7,372 SF
Gross rent
$99.1K $13.44/SF
− Vacancy
−$5.6K −$0.77/SF
EGI
$93.4K $12.67/SF
− OpEx
−$28.0K −$3.80/SF
NOI
$65.4K $8.87/SF
Area
Polk County, IA
Vacancy
5.70%
Lease Rate
$13.44 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,308,040
Cap Rate 7%
$934,314
Cap Rate 9%
$726,689
Alternative Uses
Best Use
Multifamily LT 5
$934.3K
$817.5K – $1.09M
NOI $65,402 @ 7.0% cap · market cap 5.56%
Second Best
Apartment 5plus
$816.7K
$714.6K – $952.8K
NOI $57,170 @ 7.0% cap · market cap 4.86%
Theoretical Best
Office A
$1.82M
$1.59M – $2.12M
NOI $127,091 @ 7.0% cap · market cap 10.81%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Location Intelligence
Trade Area within ½ mile
543
Businesses Nearby
Explore this area
Business Placement
Demographics for 50266, IA
36,486
Population
18,481
Households
2
Avg Household Size
34
Median Age
60%
College-Educated
97%
High-School Grad
22.3 sq mi
ZIP Area
1,636
Density / Sq Mi
$85,282
Median Household Income
$53,306
Median Earnings
$1,285
Median Rent
$325,100
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Quadplex - Three separate four-unit buildings offer acquisition flexibility, individually or as a combined community.
Where is this quadplex located?
The property is located at 9125-9143 Calvin Drive West Des Moines, IA.
What is the asking price?
The asking price for this property is $1,176,000.
What are key features of this property?
This property features: 12 townhome units arranged in three four‑unit buildings; Each residence includes 3 bedrooms and 2.5 bathrooms; Finished lower level can function as a family room or potential fourth bedroom
