Des Moines, IA Multifamily Properties for Sale

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Updated: Jun 11

Updated Nine-Bedroom Duplex

2525 51st Street, Des Moines, IA 50310

$449,900

4,135 sqft 0.49 AC lot

4,135‑square‑foot duplex with 9 bedrooms and 4 bathrooms
Two units configured as 4 bedrooms/2 bathrooms and 5 bedrooms/2 bathrooms
0.487‑acre lot in northwest Des Moines
Interior updates include luxury vinyl plank flooring, carpet, fresh paint, and bathroom vanities
Separate driveways and a detached garage for two vehicles

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Here's a quick look at some key insights for

2525 51st Street, Des Moines, IA 50310

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Est. Cap Rate

8.6%
Above avg (5.9%)
Est. NOI

$39K
Annual
Price @ 7% Cap

$551K
Above asking
Property Type

Duplex
Built 1950

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Updated: Aug 24

Updated Duplex with Outdoor Space

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

$240,000

928 sqft 0.17 AC lot

Two 2‑bedroom, 1‑bath units with separate entrances
928 square feet on a 0.1722‑acre lot
Select updates include LVP‑style flooring, cabinetry, and bathroom finishes
Off‑street parking, fenced yard, upper deck, and lower patio
Forced‑air natural gas heating and central air

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Renovated 7-Unit Brick Apartment Building

2447 E Walnut Street, Des Moines, IA 50317

$395,000

4,530 sqft 0.26 AC lot

Seven residential units combine recent renovations with access to US-65, I-235, and nearby employment centers.

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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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Side-by-Side Duplexes

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

$590,000

3,499 sqft 0.67 AC lot

Two side-by-side duplexes with four total 3-bedroom units, finished basements, and tenant-paid utilities.

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Quadplex with Basement

1438 33rd Street, Des Moines, IA 50311

$190,000

1,951 sqft 0.16 AC lot

Vacant four-unit residential property with electric heat, public utilities, and R1-60 zoning.

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Two-Unit Duplex Property

4011 SE 8th Street, Des Moines, IA 50315

$249,900

1,854 sqft 0.30 AC lot

Residential income property with two-bedroom units, private patios, off-street parking, and main-floor laundry connections.

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Five-Unit Victorian Apartment Building

3400 Ravina Dr, Des Moines, IA 50313

$210,000

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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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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Quadplex with Walkout Basements

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

$550,000

3,499 sqft 0.28 AC lot

Four-unit quadplex zoned N3A with central air, public water and sewer, and walkout basement space.

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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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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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Five-Unit Victorian Apartment Building

3400 Ravina Drive, Des Moines, IA 50313

$190,000

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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Updated Duplex with Two-Car Garage

2525 51st St, Des Moines, IA 50310

$449,900

4,135 sqft

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

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Two-Unit Duplex with Garage

1019/1021 Kirkwood Avenue, Des Moines, IA 50315

$175,000

1,586 sqft 0.16 AC lot

Updated income property with appliances included in both residences.

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Side-by-Side Duplex Portfolio

805 E Watrous Avenue, Des Moines, IA 50315

$249,900

1,854 sqft 0.18 AC lot

Two duplex buildings offer four residential units with private patios, off-street parking, and main-floor laundry hookups.

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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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Updated Two-Unit Duplex

2940 Brattleboro Avenue, Des Moines, IA 50311

$275,000

2,142 sqft 0.15 AC lot

Two residences offer three bedrooms, private parking, in-unit laundry, and refreshed interior finishes.

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Updated Duplex with Walk-Out Basement

121 E Watrous Ave, Des Moines, IA 50315

$275,000

1,408 sqft

Two residential units offer low-maintenance flooring, private outdoor space, and convenient access to Des Moines amenities.

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Occupied Two-Unit Duplex

1161 21st Street, Des Moines, IA 50311

$164,900

2,214 sqft 0.15 AC lot

Both units have long-term occupants, separate utility meters, and public water and sewer service.

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Updated Duplex With Two-Car Garage

1019 /1021 Kirkwood Ave, Des Moines, IA 50315

$187,500

1,586 sqft

Two-unit property with included appliances, separate living arrangements, and recent major system improvements.

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Updated Two-Unit Duplex

1355 24th Street, Des Moines, IA 50311

$250,000

2,064 sqft 0.18 AC lot

Occupied duplex near Drake University with separate layouts, in-unit laundry, and detached garage parking.

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Four-Unit Multifamily Property

1438 33rd St, Des Moines, IA 50311

$190,000

1,951 sqft

Vacant four-unit configuration includes two one-bedroom apartments and two efficiency units near Drake University.

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Walkout Duplex with Recent Updates

815 E Mckinley Avenue, Des Moines, IA 50315

$290,000

1,856 sqft 0.24 AC lot

Two-unit property with central air, forced-air heating, and public water and sewer service.

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Des Moines, IA Multifamily Properties Market Trends and Statistics

Explore 129 multifamily properties for sale in Des Moines, IA, showcased through 129 active listings on our real estate platform. These investment opportunities span a total of 489,017 square feet of properties for sale, with an estimated market value of $50,762,049.

Sale prices for multifamily properties in Des Moines, IA start at $115,000, averaging $528,771, and reaching up to $8,700,000 — 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

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
50313	$210K
50316	$253.3K
50314	$254K
50311	$265.9K
50310	$321.6K

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 pricing trends across core commercial property types 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.

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Des Moines, IA Multifamily Properties for Sale

2525 51st Street, Des Moines, IA 50310

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

2447 E Walnut Street, Des Moines, IA 50317

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

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

1438 33rd Street, Des Moines, IA 50311

4011 SE 8th Street, Des Moines, IA 50315

3400 Ravina Dr, Des Moines, IA 50313

1000 Hoffman Avenue, Des Moines, IA 50316

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

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

121 E Watrous Avenue, Des Moines, IA 50315

3400 Ravina Drive, Des Moines, IA 50313

2525 51st St, Des Moines, IA 50310

1019/1021 Kirkwood Avenue, Des Moines, IA 50315

805 E Watrous Avenue, Des Moines, IA 50315

2447 E Walnut St, Des Moines, IA 50317

2940 Brattleboro Avenue, Des Moines, IA 50311

121 E Watrous Ave, Des Moines, IA 50315

1161 21st Street, Des Moines, IA 50311

1019 /1021 Kirkwood Ave, Des Moines, IA 50315

1355 24th Street, Des Moines, IA 50311

1438 33rd St, Des Moines, IA 50311

815 E Mckinley Avenue, Des Moines, IA 50315

Des Moines, IA Multifamily Properties Market Trends and Statistics

Top Commercial Asset Segments

Demographics Overview

High-Yield Neighborhoods for Investment

Taxes & Financing

Listings Trend

Total CRE Inventory on Market (SF)

Average Property Price per SF

Residential Income

Property Size Breakdown

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