2700 Jacobin Dr Norwalk, IA 50211

The Allure at 57, a stunning 108-unit apartment building in Norwalk, Iowa, presents a compelling investment opportunity. Completed in late 2023, this four-building complex boasts 94,356 square feet of net rentable space across three stories, situated on a spacious 827,640 square foot lot (APN: 5000180821). Each of the modern units features nine-foot ceilings, contemporary kitchens with stainless steel appliances, hardwood floors, and in-unit washers and dryers. Residents enjoy the added convenience of balconies or patios, walk-in closets, and sound-reducing features. The property's prime location in the rapidly growing suburb of Norwalk, just ten miles south of Des Moines, offers easy access to major highways (I-35 and Highway 28), combining suburban tranquility with convenient access to Des Moines' employment hubs. The limited competition in Norwalk's multifamily market, coupled with strong demand in the Des Moines metro area, positions The Allure at 57 as a premier rental option. The property has recently completed its initial lease-up, presenting an immediate opportunity for rental revenue growth as lease concessions phase out and first-generation leases turn. This newly constructed property offers a significant discount below current replacement costs, ensuring immediate value and strong potential for both cash flow and long-term equity growth. The combination of high demand, limited competition, and attractive pricing makes The Allure at 57 an exceptional investment prospect.