Description

The KataLYST Team as part of KW Commercial is pleased to bring to market this 11-plex located in Valley Junction, West Des Moines, IA. This property was recently purchased as part of a larger portfolio and prior to the sale had only one owner over the last 30+ years who took immaculate care of the property and truly showed pride of ownership!

With great unit mixes and low rents that are estimated to be 30%+ below market, this property offers significant value-add through repositioning!

Details

Address: 704 12th Street
City & State: West Des Moines, IA
Current Price: $1,100,000
Building Size: 9,179 SF
Lot Size: 0.39 Acres
Cap Rate: 8.05%
Year Built: 1965

Property Highlights

• Located in the quiet and historical Valley Junction neighborhood of West Des Moines, IA, close to shopping, farmer’s markets, and easy access to the marketplace via Grand Ave.
• This 11-unit multifamily property offers a Pro-Forma CAP Rate of 8.05% and a gross rent multiplier (GRM) of 7.21, making it a solid investment with significant upside potential.
• The property has great unit mixes with rents estimated to be 30%+ below market, providing substantial value-add potential through repositioning.
• With only one owner over the last 30+ years, the property has been meticulously cared for, showing true pride of ownership.