3103 Grand Ave Des Moines, IA 50312

1.22 ac lot

Property ID

US25-0301796

$595,000

3103 Grand Ave, Des Moines, IA 50312
View Listing →

Google Maps

This exceptional value-add opportunity presents a 20-unit apartment building in Des Moines, Iowa. Situated on a substantial 1.222-acre lot, the property comprises two buildings: a 12-unit purpose-built structure and an 8-unit mansion conversion, both offering significant redevelopment potential. Built in 1913 and 1966, the property is classified as Class C and zoned NX3. The asking price is $1,850,000, translating to an attractive price per unit of $92,500. Located at 3103 and 3117 Grand Avenue, Des Moines, IA 50312, this property benefits from its location in a developing area and the potential for city incentives. The two-story buildings offer a combined 20 units, presenting a compelling investment prospect for those seeking a value-add or redevelopment project. The substantial lot size provides ample space for future expansion or improvements. This is an ideal opportunity for investors looking to capitalize on the growing Des Moines market and unlock the significant potential of this multifamily property. The property's history and current configuration offer a unique blend of character and opportunity for a savvy investor.