Description
The KataLYST Team by KW Commercial is pleased to market exclusively for sale 1137 26th Street, Des Moines, Iowa — a 12-unit multifamily asset positioned at the intersection of stable income, institutional demand, and compelling long-term upside in one of Des Moines’ most actively reinvested urban neighborhoods. On an after-tax basis, the investment delivers an IRR of 12.42% and a modified IRR of 11.67% at a 5-year exit, with projected net resale proceeds of $332,783 on an initial equity investment of $232,500.
Details
Address: 1137 26th St.
City & State: Des Moines, IA
Current Price: $775,000
Building SF: 5,932 SF
Lot Size: 0.28 Acres
Price / SF: $130.65
Year Built: 1895
Property Highlights
- Anchored by Drake University, with approximately 4,200 students from 44 states and 34 countries generating consistent year-round housing demand
- Strong and stable off-campus rental market supported by a large institutional tenant base
- Benefiting from Invest DSM, which has driven more than $60 million in neighborhood investment
- Positioned in an active reinvestment corridor with ongoing public and private capital deployment
- Durable demand drivers supported by both university enrollment stability and neighborhood-wide redevelopment
- Long-term hold market characterized by consistent occupancy, stable demand, and sustained rent growth potential