1800 9Th StDes Moines, IA 50314

Property Details for 1800 9Th St

Year built

1950

Property type

Residential income properties

Property subtype

Multifamily properties

Description

This exceptional investment opportunity presents a seven-unit apartment building located at 1800 9th Street, Des Moines, Iowa, 50314, in Polk County. The property, built in 1950, is a single-story structure offering a compelling 8.50% capitalization rate at an asking price of $400,000. Each of the seven units is a one-bedroom, one-bathroom apartment, priced at $57,142.86 per unit. The building features boiler heating and individual sleeve air conditioning units in each apartment. Landlord responsibilities include gas (heat), water, sewer, trash, and common area utilities, while tenants are responsible for their individual electricity. Convenience is provided by a shared laundry facility equipped with one washer and one dryer. This property represents a strong value-add opportunity in a desirable Des Moines location. The building's age presents potential for future upgrades and increased rental income. The strong cap rate makes this an attractive investment for those seeking a solid return on their investment in the Des Moines multifamily market. This is a turnkey opportunity ready for an investor to acquire and manage.

Location Insight

City

Des Moines

County

Polk

State

Iowa

Latitude

41.6102

Longitude

-93.6296

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