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    Des Moines, IA Multifamily Properties for Sale

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    Mixed-Use Property with Two Buildings
    Updated: Sep 18
    Mixed-Use Property with Two Buildings

    2312 Forest Avenue, Des Moines, IA 50311

    $200,000
    7,238 sqft 0.26 AC lot
    Two buildings on one parcel totaling 7,238 Square Feet
    2312 Forest Avenue includes approximately 1,144 sq. ft. of finished commercial space
    Upper level includes two 2‑bedroom apartments opened to the studs
    1370 23rd Street is an approximately 4,124 sq. ft. Victorian home
    Second building was previously configured as seven apartments
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    Brick Ranch Duplex
    Updated: Sep 17
    Brick Ranch Duplex

    3920-3922 E 38th Street, Des Moines, IA 50317

    $240,000
    1,536 sqft 0.55 AC lot
    Two‑unit duplex with 1,536 square feet
    0.551‑acre lot at 3920‑3922 E 38th Street, Des Moines, IA 50317
    Built in 1973 with ranch‑style design and brick construction
    Each unit includes its own kitchen and living space
    Central air and natural gas forced‑air heat
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    Four-Unit Apartment Building
    Four-Unit Apartment Building

    1240 32nd Street, Des Moines, IA 50311

    $349,900
    2,492 sqft 0.29 AC lot

    The apartment mix includes one- and two-bedroom layouts, with updated sewer and water lines.

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    See hot listings in Des Moines

    Scored against comparables nationwide. These are worth a look.

    Scored against comparables nationwide. These are worth a look.

    Cap Rate available after sign in
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    30-Unit Apartment Building
    30-Unit Apartment Building

    5555 Southwest 9th Street, Des Moines, IA 50315

    $1,650,000
    23,400 sqft 0.73 AC lot

    Three-story community with one- and two-bedroom floor plans, surface parking, and recent exterior improvements.

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    Four-Unit Quadplex
    Four-Unit Quadplex

    1148 36th Street, Des Moines, IA 50311

    $290,000
    2,509 sqft 0.34 AC lot

    R-3-zoned property with a mix of one-bedroom and two-bedroom apartments.

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    Side-by-Side Quadplex Property
    Side-by-Side Quadplex Property

    707 & 715 E Mckinley Avenue, Des Moines, IA 50315

    $590,000
    3,499 sqft 0.67 AC lot

    Four residential units offer basement space, private outdoor areas, and shared driveway access in a consolidated configuration.

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    Updated Duplex with Outdoor Space
    Updated Duplex with Outdoor Space

    2024-2026 E Caulder Avenue, Des Moines, IA 50320

    $240,000
    928 sqft 0.17 AC lot

    Two separately entered residences include kitchens, dining areas, off-street parking, and private exterior areas.

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    Side-by-Side Duplex Portfolio
    Side-by-Side Duplex Portfolio

    801 & 807 E Mckinley Ave, Des Moines, IA 50315

    $550,000
    3,499 sqft

    Four three-bedroom units feature finished basements, walkout access, and private outdoor areas near daily amenities.

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    Updated Nine-Bedroom Duplex
    Updated Nine-Bedroom Duplex

    2525 51st Street, Des Moines, IA 50310

    $425,000
    4,135 sqft 0.49 AC lot

    Two residential units offer refreshed interiors, separate driveways, and access to a detached garage.

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    Duplex with Unit Fireplaces
    Duplex with Unit Fireplaces

    1317 Randall Place, Des Moines, IA 50311

    $365,000
    2,274 sqft 0.22 AC lot

    Two separate residences provide matching two-bedroom layouts, finished lower levels, and updated interiors.

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    Five-Unit Victorian Apartment Building
    Five-Unit Victorian Apartment Building

    3400 Ravina Dr, Des Moines, IA 50313

    $185,000
    4,067 sqft 0.37 AC lot

    Historic converted residence with original architectural details, multiple utility meters, garages, and renovation needs.

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    Two-Unit Duplex with Off-Street Parking
    Two-Unit Duplex with Off-Street Parking

    3905 8th Street, Des Moines, IA 50313

    $164,900
    1,214 sqft 0.15 AC lot

    Ranch-style duplex with public utilities and a rental certificate issued this year.

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    Duplex with Updated Kitchens
    Duplex with Updated Kitchens

    4703 Valdez Drive, Des Moines, IA 50310

    $280,000
    1,562 sqft 0.23 AC lot

    Two residences occupy a Des Moines parcel with a sizable yard and landscaped grounds.

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    Side-by-Side Duplex Portfolio
    Side-by-Side Duplex Portfolio

    707 & 715 E Mckinley Ave, Des Moines, IA 50315

    $590,000
    3,499 sqft

    Two adjacent duplexes provide four rental units with walkout basements and spacious backyards.

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    4-Unit Apartment Building
    4-Unit Apartment Building

    1438 33rd Street, Des Moines, IA 50311

    $190,000
    1,951 sqft 0.16 AC lot

    The unit mix combines two one-bedroom apartments with two efficiency units, all currently vacant.

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    Duplex with Finished Attic
    Duplex with Finished Attic

    1175 21st Street, Des Moines, IA 50311

    $199,900
    1,842 sqft 0.21 AC lot

    Two units provide different bedroom and bathroom layouts, with laundry access in the basement and hookups upstairs.

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    47-Unit Apartment Building
    47-Unit Apartment Building

    3830 6th Avenue, Des Moines, IA 50313

    $2,650,000
    34,550 sqft

    Two three-story buildings offer studio, one-bedroom, and two-bedroom apartments with surface parking and functional layouts.

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    Updated Duplex with Walk-Out Basement
    Updated Duplex with Walk-Out Basement

    121 E Watrous Avenue, Des Moines, IA 50315

    $275,000
    1,408 sqft 0.22 AC lot

    Ranch-style two-unit property with refreshed finishes, private yard, and public water and sewer service.

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    Updated Duplex with Two-Car Garage
    Updated Duplex with Two-Car Garage

    2525 51st St, Des Moines, IA 50310

    $425,000
    4,135 sqft

    Two separate driveways and refreshed interiors provide practical functionality across both units.

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    Side-by-Side Quadplex
    Side-by-Side Quadplex

    801 & 807 E Mckinley Avenue, Des Moines, IA 50315

    $550,000
    3,499 sqft 0.28 AC lot

    Two duplex buildings provide four rental units with walkout basements, spacious backyards, and functional floor plans.

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    Renovated 7-Unit Apartment Building
    Renovated 7-Unit Apartment Building

    2447 E Walnut St, Des Moines, IA 50317

    $395,000
    4,530 sqft

    Brick multifamily property with recently upgraded interiors throughout all residences.

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    Five-Unit Victorian Apartment Building
    Five-Unit Victorian Apartment Building

    3400 Ravina Drive, Des Moines, IA 50313

    $185,000
    4,067 sqft 0.37 AC lot

    Historic multifamily property with preserved architectural features, multiple garages, and a mix of updated and unfinished units.

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    Split-Foyer Duplex with Patio
    Split-Foyer Duplex with Patio

    2801 & 2803 Se 19th St, Des Moines, IA 50320

    $300,000
    554 sqft

    Two-level duplex with a fenced backyard, patio access, and included household appliances.

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    Duplex with Fenced Yard
    Duplex with Fenced Yard

    2801 & 2803 SE 19th Street, Des Moines, IA 50320

    $300,000
    1,040 sqft 0.12 AC lot

    The home includes a patio, garage parking, and a privacy-fenced backyard.

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    Des Moines, IA Multifamily Properties Market Trends and Statistics

    Explore 98 multifamily properties for sale in Des Moines, IA, showcased through 98 active listings on our real estate platform. These investment opportunities span a total of 477,453 square feet of properties for sale, with an estimated market value of $40,718,341.

    Sale prices for multifamily properties in Des Moines, IA start at $142,500, averaging $473,469, and reaching up to $5,500,000 — 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

    Duplexes 49
    Apartment buildings 32
    Quadplexes 12
    Triplexes 3
    Mobile home & RV parks 2

    Demographics Overview

    Population 306K
    Population Growth (5Y) +2.6%
    Median Household Income $80,154
    College Educated 12.6%

    High-Yield Neighborhoods for Investment

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

    Neighborhood Average Price
    50311 $255K
    50320 $255.8K
    50317 $296.2K
    50316 $312K
    50314 $414K

    Taxes & Financing

    Tax Rate (average for all types) 3.09%
    Property Tax per SF $42.10 per SF
    Tax Rate vs County Average 0.49 pp above 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 Residential Income pricing trends in Polk County

    Residential Income

    Property Size Breakdown

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

    How Realmo verifies these figures

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    Browse Multifamily properties for Sale Near Des Moines, IA

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    Most Searched ZIP Codes in Des Moines, IA

    • 50315
    • 50311
    • 50310
    • 50313
    • 50314
    • 50320
    • 50316
    • 50317
    • 50312
    • 50309
    • 50308

    Featured Des Moines Real Estate Agencies

    Realmo connects you with licensed Des Moines CRE brokers providing property specifications, local market pricing, and commercial transaction underwriting support.

    Exit Realty Capital City
    2936 104th st Des Moines, IA 50322
    Phone: 15159914204
    www.SoldDesMoines.com
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