Multi-Family
$ 240,000.00
- MLS #: 621566
- Date added: 02/18/21
- Post Updated: 2021-02-18 21:16:16
- Status: Active
- Bathrooms: 0
- Area: 3875 sq ft
- Lot size: 9216 sq ft
- Year built: 1904
Rooms & Units Description
- Total Efficiency Units: 1
- Total 1 Bedroom Units: 3
- Total 2 Bedroom Units: 1
- Kitchens Total: 5
Description
Attention Investors. Great turnkey income producing 5 plex within 1 block of Drake University and the new development occurring along University Avenue. The asset is currently bringing in $2880/mo of rental income and the tenants pay many of the utilities. Over the last year the owners have updated and turned over units using a local professional property management company. Value add potential still exists by increasing rents on 3 of the units that are currently rented under market and including the fifth unit in the RUBS plan. The additional value add is estimated to be an additional $300-400/mo. 3 of the units have been remodeled/updated and have new appliances. The rental certificate is in the process of being renewed. Unit 1 = 600, Unit 2 = 785, Unit 3 = 665, Unit 4 = 340, Unit 5 = 520
View on map / Neighborhood
Location & Schools
- County: Polk
- School District: Des Moines Independent
- MLS Area: Des Moines West
- Directions: While on MLK and University go East. At 26th Street go South and the house will be on the East side of the street.
- Zoning: R1-60
Property Details
- Lot Size: 72X128
- Style: See Remarks
- Parcel Number: 03001430000000
- Sqft Bsmt: 1160
- Basement Desc: Unfinished
- Living Area Sq Ft: 3875
- LP Amt Sq Ft: 61.94
- Acres: 0.2120
- Transaction Type: Sale
- Sale Commission: 3.0000
- Terms Available: Cash,Conventional
- Deposit YN: 1
Property Features
- Air Conditioning: Window Unit
- Heat: Gas Forced Air
- Off Street Parking: 5
- Stoves Total: 5
- Fridges Total: 5
Taxes & Fees
- Tax Year: 2021
- Net Taxes: 4830.00
- Gross Taxes: 4830.00
Miscellaneous
- Sign: 1
- Legal: LOT 26 & N 1/2 LOT 25 DRAKE UNIVERSITY 2ND ADD
Courtesy of
- Office Name: Keller Williams Realty GDM
This style property is located in Des Moines is currently Multi-Family and has been listed on Sly Real Estate Group. This property is listed at $ 240,000.00. It has bedrooms, 0 bathrooms, and is 3875 sq ft. The property was built in 1904 year.
