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26th Street Apartments 1137 26th St 12 Unit Apartment Building $745,000 ($62,083/Unit) 8.08% Cap Rate Des Moines, IA 50311
Investment Highlights
- New roof in 2025
- Neighbors newly constructed mixed-use development and hotel
- Walkable to several dining & entertainment options
- Across the street from Drake University
- Completely renovated in 2015
- Less than 5 minutes from Downtown Des Moines
Executive Summary
$745,000
8.08% cap rate
12 units
6-Studios & 6-1BR/1BA
$698 average rent
8.08% cap rate
12 units
6-Studios & 6-1BR/1BA
$698 average rent
Property Facts
| Price | $745,000 | Building Class | C |
| Price Per Unit | $62,083 | Lot Size | 0.28 AC |
| Sale Type | Investment | Building Size | 7,298 SF |
| Cap Rate | 8.08% | Average Occupancy | 100% |
| No. Units | 12 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1895 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | R-3 | ||
| Price | $745,000 |
| Price Per Unit | $62,083 |
| Sale Type | Investment |
| Cap Rate | 8.08% |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.28 AC |
| Building Size | 7,298 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1895 |
| Opportunity Zone |
Yes |
| Zoning | R-3 |
Amenities
Unit Amenities
- Heating
- Kitchen
- Oven
- Range
- Tub/Shower
Site Amenities
- 24 Hour Access
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 5 | - | 600 |
| 1+1 | 6 | - | 750 |
| 2+1 | 1 | - | 1,000 |
1 1
Walk Score®
Very Walkable (78)
Property Taxes
| Parcel Number | 030-01439000000 | Improvements Assessment | $760,900 |
| Land Assessment | $34,100 | Total Assessment | $795,000 |
Property Taxes
Parcel Number
030-01439000000
Land Assessment
$34,100
Improvements Assessment
$760,900
Total Assessment
$795,000
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26th Street Apartments | 1137 26th St
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