2525 Lincoln AveDes Moines, IA 50310

Property Details for 2525 Lincoln Ave

Year built

1965

Property type

Residential income properties

Property subtype

Multifamily properties

Description

This exceptional investment opportunity presents an eight-unit apartment building located at 2525 Lincoln Ave, Des Moines, IA 50310. The property, built in 1965, is a two-story Class B multifamily building offering a compelling return. All eight units are configured as two-bedroom, one-bathroom apartments. Heating is provided by electric baseboard units, and each unit features a sleeve air conditioning unit. The building boasts a convenient common area laundry room on the second floor, equipped with one washer and one dryer for tenant use. Landlord responsibilities include water, sewer, trash, and common area utilities, while tenants are responsible for their individual electricity. The asking price is $525,000, representing a price per unit of $65,625. This property offers a strong potential for income generation and appreciation in the Des Moines market. The building is situated in Polk County and presents a solid investment opportunity for discerning buyers. The property's 7.84% cap rate further enhances its attractiveness. This is a turnkey opportunity to acquire a well-maintained multifamily property with established tenancy.

Location Insight

City

Des Moines

County

Polk

State

Iowa

Latitude

41.6136

Longitude

-93.6513

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