121 12th St, Unit 120 Des Moines, IA 50309-4228
- Apartment buildings
- 28,498 SF
- 0.40 lot acres
Current Use by Public Records
- Station 121 / Apartment Building
Property Details for 121 12th St
- Year built
- 2017
- Construction
- FRAME
- Lot size
- 0.40 lot acres
- Property size
- 28,498 SF
- Zone code
- C-3
- Property type
- Apartment buildings
- APN
- 020/01646-002-001
- APU
- 2001646002001
Description
This exceptional Class A, 26-unit apartment building, known as Station 121, presents a compelling investment opportunity in Des Moines, Iowa's desirable Western Gateway neighborhood. Completed in 2018, this multifamily conversion boasts 19,500 square feet of net rentable space across a two-story building. Each of the 26 units offers a unique floor plan, showcasing original architectural details. The property benefits from a prime location, surrounded by major employers including Dotdash Meredith, Wellmark Blue Cross Blue Shield, Nationwide Insurance, EMC Insurance, Principal Financial Group, Maverik, Iowa Methodist Medical Center, and UnityPoint Health. Further enhancing its appeal, American Equity's new headquarters (approximately 650 employees) and the City of Des Moines' new offices are located just one block away. Residents enjoy easy walkability to downtown Des Moines' vibrant coffee shops, restaurants, and entertainment venues. A significant advantage is the property tax abatement, extending until 2028. The asking price is $4,000,000, translating to $153,846.15 per unit. This stabilized investment presents a rare opportunity to acquire a high-quality asset in a thriving urban core. The property is located at 121 12th St, Des Moines, IA 50309.
Value Estimation
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Des Moines
- County
- Polk
- State
- Iowa
- Longitude
- -93.6312
- Latitude
- 41.5827
- CBSA code
- 19780
- CBSA name
- DES MOINES-WEST DES MOINES, IA METROPOLITAN STATISTICAL AREA
