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Bridlewood Apartments 100-112 5th Ave NW 144 Unit Apartment Building $14,800,000 ($102,778/Unit) 6.99% Cap Rate Altoona, IA 50009
Investment Highlights
- Twenty-year ownership track record with 96% trailing-ten-year occupancy and 97.9% current occupancy (July 2026).
- The Des Moines Metro Area is the Mid-West's #1 fastest growing major metro area since 2020.
- Documented Value-Add Playbook: 49 remodeled units, 95 units remaining, plus upgradable green space represent a clear runway to drive revenue.
- Altoona is one of Greater Des Moines' fastest growing suburbs: 17.5% population growth since 2020.
Executive Summary
Complete Offering Package Available At: WWW.DAYMARKOFFERINGS.COM
For Sale by Owners
For Sale by Owners
Data Room Click Here to Access
- Offering Memorandum
Financial Summary (Pro Forma - 2026) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro Forma - 2026) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $14,800,000 | Apartment Style | Garden |
| Price Per Unit | $102,778 | Building Class | C |
| Sale Type | Investment | Lot Size | 8.24 AC |
| Cap Rate | 6.99% | Building Size | 122,976 SF |
| Gross Rent Multiplier | 8.1 | Average Occupancy | 98% |
| No. Units | 144 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1986 |
| Property Subtype | Apartment | Parking Ratio | 2.41/1,000 SF |
| Zoning | R-3 | ||
| Price | $14,800,000 |
| Price Per Unit | $102,778 |
| Sale Type | Investment |
| Cap Rate | 6.99% |
| Gross Rent Multiplier | 8.1 |
| No. Units | 144 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 8.24 AC |
| Building Size | 122,976 SF |
| Average Occupancy | 98% |
| No. Stories | 3 |
| Year Built | 1986 |
| Parking Ratio | 2.41/1,000 SF |
| Zoning | R-3 |
Amenities
Unit Amenities
- Air Conditioning
- Cable Ready
- Dishwasher
- Disposal
- Microwave
- Storage Space
- Heating
- Ceiling Fans
- Eat-in Kitchen
- Kitchen
- High Speed Internet Access
- Range
- Tub/Shower
- Walk-In Closets
- Carpet
- Dining Room
- Vinyl Flooring
- Window Coverings
Site Amenities
- Laundry Facilities
- Playground
- Property Manager on Site
- Package Service
- Storage Space
- Maintenance on site
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 10 | $1,064 | 625 |
| 2+1 | 124 | $1,087 | 825 - 875 |
| 3+1 | 10 | $1,374 | 1,125 |
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Fairly walkable
40/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
50/100
Property Taxes
| Parcel Numbers | Total Assessment | $10,849,100 (2025) | |
| Land Assessment | $1,271,100 (2025) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $9,578,000 (2025) | Tax Year | 2026 |
Property Taxes
Parcel Numbers
Land Assessment
$1,271,100 (2025)
Improvements Assessment
$9,578,000 (2025)
Total Assessment
$10,849,100 (2025)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2026
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Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
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