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    Ankeny, IA
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    Ankeny, IA Multifamily Properties for Sale

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    32-Unit Multifamily Community in Ankeny, Iowa
    Updated: Mar 25
    32-Unit Multifamily Community in Ankeny, Iowa

    218 Northwest State Street, Ankeny, IA 50023

    $2,395,000
    25,600 sqft
    Located in Ankeny, Iowa, a rapidly growing suburb of Des Moines.
    Well‑maintained 32‑unit multifamily community.
    All units are 2‑bedroom, 1‑bath floor plans.
    Convenient access to Ankeny Centennial High School, Prairie Ridge Sports Complex, John Deere Des Moines Works, and various retail, dining, and recreational amenities.
    Four buildings with a total rentable area of 25,600 SF.
    View details

    This listing looks promising.

    Here's a quick look at some key insights for

    218 Northwest State Street, Ankeny, IA, 50023

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    • Est. Cap Rate

      8.3%
      Above avg (5.9%)

    • Est. NOI

      $199K
      Annual

    • Price @ 7% Cap

      $2.84M
      Above asking

    • Last Sold

      Dec 2011
      $246K

    • Property Type

      Apartments (Generic)
      Built 1972
    View Property Analytics
    Renovated Duplex with Basements
    Updated: Aug 13
    Renovated Duplex with Basements

    102 NW Sharmin Drive, Ankeny, IA 50023

    $315,000
    2,080 sqft 0.22 AC lot
    2,080‑square‑foot up‑and‑down duplex with two 2‑bedroom, 1‑bath units
    0.22‑acre lot at 102 NW Sharmin Drive, Ankeny, IA 50023
    Both residences include private basements, in‑unit laundry, and storage
    Separate gas, water, and electric meters serve the units
    Roof replaced in 2021; property built in 1968
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    Split-Level Duplex with Updated Kitchens
    Split-Level Duplex with Updated Kitchens

    1517-1519 NW 2nd St, Ankeny, IA 50023

    $310,000
    952 sqft

    Two-bedroom units include private driveways, storage sheds, and replacement windows.

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    Renovated Duplex With Private Basements
    Renovated Duplex With Private Basements

    102 NW Sharmin Dr, Ankeny, IA 50023

    $315,000
    2,080 sqft

    Updated interiors, private basement areas, and separate utility metering support practical unit-level management.

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    Turn a Listing Into an Investment Snapshot Cap Rate, Potential NOI, Demand score for every listing. Go To Analytics Center
    Renovated ADA-Compliant Duplex
    Renovated ADA-Compliant Duplex

    530 SW Maple St, Ankeny, IA 50023

    $395,000

    Two-unit residential property with updated interiors, unfinished basements, and a two-car garage.

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    Eight-Unit Apartment Building
    Eight-Unit Apartment Building

    222 NW College Ave, Ankeny, IA 50023

    Contact for pricing

    Well-maintained eight-unit apartment complex in Ankeny, Iowa, positioned for long-term residential rental use.

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    Multifamily Property
    Multifamily Property

    1011 Southeast 3rd Street, Ankeny, IA 50021

    $1,650,000

    Residential multifamily asset constructed in 1980.

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    Two-Building Garden-Style Apartments
    Two-Building Garden-Style Apartments

    1102 SE Belmont Dr, Ankeny, IA 50021

    Contact for pricing

    Belmont Point Apartments is a 16-unit, two-bedroom property with separately metered gas and electricity.

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    Mixed-Use Development with Flex Buildings
    Mixed-Use Development with Flex Buildings

    7040 NE 14th St, Ankeny, IA 50023

    Contact for pricing
    12,486 sqft

    A 2019-built mixed-use development with street-level retail/office, apartments above, and two flex buildings.

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    Based on your search, we've compiled 76 Potential Opportunities for your consideration. Besides 9 Active listings in Ankeny, IA, we suggest exploring several alternatives: 4 properties in Nearby Cities, and similar 63 Off-Market properties to explore as potential leads

    Opportunities in Nearby Cities

    Here are 4 Similar properties we found in Nearby Locations for your consideration.

    All-Brick Duplex with Detached 2-Car Garage
    All-Brick Duplex with Detached 2-Car Garage

    1000 Hoffman Avenue, Des Moines, IA 50316

    $280,000
    1,404 sqft 0.21 AC lot

    Well-maintained all-brick duplex with central air, central vacuum, and a detached two-car garage.

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    All-Brick Duplex with Garage
    All-Brick Duplex with Garage

    1000 Hoffman Ave, Des Moines, IA 50316

    $280,000
    1,404 sqft

    Two-unit property with finished lower-level space and a detached garage.

    View details
    12-Unit Apartment Building
    12-Unit Apartment Building

    1195 Northwest Aurora Avenue, Des Moines, IA 50313

    $672,043
    15,844 sqft

    Multifamily property with consistent two-bedroom, one-bath unit layouts.

    View details
    Up-Down Duplex with Detached Garage
    Up-Down Duplex with Detached Garage

    4004 Cornell St, Des Moines, IA 50313

    $260,000
    2,083 sqft

    Two residential units have separate driveways and distinct private outdoor areas.

    View details

    Off-Market Properties in Ankeny, IA

    Consider similar Off-Market properties in Ankeny, IA. You may contact the owners directly to inquire about their potential intentions to sell. To help you make a strong first impression, we can assist by reaching out to these owners with compelling proposals created using our AI tool.

    719 3rd St
    APARTMENT HOUSE (5+ UNITS)

    719 3rd St, Ankeny, IA 50023-2692

    $135,000
    Estimated value
    32,514 sqft 0.97 AC lot
    View details
    1114 Belmont Dr
    APARTMENT HOUSE (5+ UNITS)

    1114 Belmont Dr, Ankeny, IA 50021-3581

    $1,375,000
    Estimated value
    10,848 sqft 0.54 AC lot
    View details
    114 State St
    APARTMENT HOUSE (5+ UNITS)

    114 State St, Ankeny, IA 50023-2372

    $2,150,000
    Estimated value
    8,704 sqft 0.71 AC lot
    View details
    117 College Ave
    APARTMENT HOUSE (5+ UNITS)

    117 College Ave, Ankeny, IA 50023-2129

    $1,000,000
    Estimated value
    5,600 sqft 0.49 AC lot
    View details
    1102 Belmont Dr
    APARTMENT HOUSE (5+ UNITS)

    1102 Belmont Dr, Ankeny, IA 50021-3579

    $865,000
    Estimated value
    7,488 sqft 1.01 AC lot
    View details
    1602 Pne Rd
    APARTMENT HOUSE (UNDER 5 UNITS)

    1602 Pne Rd, Ankeny, IA 50023-1251

    $2,220,000
    Estimated value
    3,372 sqft 0.67 AC lot
    View details
    1002 Belmont Dr
    APARTMENT HOUSE (5+ UNITS)

    1002 Belmont Dr, Ankeny, IA 50021-3570

    $2,800,000
    Estimated value
    20,883 sqft 2.43 AC lot
    View details
    202 College Ave
    APARTMENT HOUSE (5+ UNITS)

    202 College Ave, Ankeny, IA 50023-2136

    $770,000
    Estimated value
    4,352 sqft 0.49 AC lot
    View details
    213 College Ave
    APARTMENT HOUSE (5+ UNITS)

    213 College Ave, Ankeny, IA 50023-2133

    $345,000
    Estimated value
    4,352 sqft 0.49 AC lot
    View details
    210 State St
    APARTMENT HOUSE (5+ UNITS)

    210 State St, Ankeny, IA 50023-2538

    $455,000
    Estimated value
    4,608 sqft 1.31 AC lot
    View details
    2022 Hickory Ln
    APARTMENT HOUSE (5+ UNITS)

    2022 Hickory Ln, Ankeny, IA 50023-1225

    $485,000
    Estimated value
    6,784 sqft 0.18 AC lot
    View details
    1713 Pne Rd
    APARTMENT HOUSE (5+ UNITS)

    1713 Pne Rd, Ankeny, IA 50023-1241

    $3,600,000
    Estimated value
    45,504 sqft 3.17 AC lot
    View details
    2101 1st St
    APARTMENT HOUSE (5+ UNITS)

    2101 1st St, Ankeny, IA 50023-2461

    $845,000
    Estimated value
    8,640 sqft 2.10 AC lot
    View details
    201 Linden St
    APARTMENT HOUSE (5+ UNITS)

    201 Linden St, Ankeny, IA 50023-2476

    $1,920,000
    Estimated value
    5,120 sqft 1.97 AC lot
    View details
    214 Chapel Dr
    APARTMENT HOUSE (5+ UNITS)

    214 Chapel Dr, Ankeny, IA 50023-2259

    $960,000
    Estimated value
    10,240 sqft 0.88 AC lot
    View details

    Ankeny, IA Multifamily Properties Market Trends and Statistics

    Explore 72 multifamily properties for sale in Ankeny, IA, showcased through 9 active listings on our real estate platform. These investment opportunities span a total of 43,198 square feet of properties for sale, with an estimated market value of $5,380,000.

    Sale prices for multifamily properties in Ankeny, IA start at $310,000, averaging $896,666, and reaching up to $2,395,000 — offering options for a variety of budgets and business needs. Daily updated analytics ensure you stay ahead with the latest data and market trends.

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    Top Commercial Asset Segments

    Commercial property segments ranked by active listings on the market

    Apartment buildings 8
    Duplexes 4

    Demographics Overview

    Population 75K
    Population Growth (5Y) +16.3%
    Median Household Income $107,944
    College Educated 69.6%

    High-Yield Neighborhoods for Investment

    Identify Ankeny submarkets with the highest inventory density on the market and evaluate the average listing prices of real estate assets

    Neighborhood Average Price
    50021 $325K
    50023 $1.4M

    Taxes & Financing

    Tax Rate (average for all types) 2.32%
    Property Tax per SF $23.64 per SF
    Tax Rate vs County Average 0.13 pp below county avg
    Average Loan-to-Value 65.0%

    Listings Trend

    New vs delisted commercial listings in Polk County

    New Delisted

    Total CRE Inventory on Market (SF)

    Average Property Price per SF

    For-sale pricing trends across core commercial property types in Polk County

    Residential Income

    Property Size Breakdown

    The majority of commercial real estate listings in Ankeny fall within the 100,000+ square foot range.

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