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Bell Apartments 1201 E Bell Ave 36 Unit Apartment Building $2,745,000 ($76,250/Unit) 8.08% Cap Rate Des Moines, IA 50315
INVESTMENT HIGHLIGHTS
- Electric baseboard heat and sleeve A/C units
- Asphalt shingled roof with vinyl siding and brick veneer
- Adequate surface parking and 8 detached garages
- Individual water heaters
- Common area laundry
EXECUTIVE SUMMARY
$2,745,000
8.08% cap rate
Built in 1997
36 units
9-1BR/1BA; 18-2BR/1BA; 3-3BR/1BA; 6-3BR/2BA
$865 average rent
Please click here for more information: https://www.cbredealflow.com/buyer/agreement?pv=OnhRfPlU15dKmroyxIlxP6470rh3DfQly7wI1LXH6RamhGVR7VLCHKeTr7JFrEe_
8.08% cap rate
Built in 1997
36 units
9-1BR/1BA; 18-2BR/1BA; 3-3BR/1BA; 6-3BR/2BA
$865 average rent
Please click here for more information: https://www.cbredealflow.com/buyer/agreement?pv=OnhRfPlU15dKmroyxIlxP6470rh3DfQly7wI1LXH6RamhGVR7VLCHKeTr7JFrEe_
PROPERTY FACTS
| Price | $2,745,000 | Building Class | B |
| Price Per Unit | $76,250 | Lot Size | 2.16 AC |
| Sale Type | Investment | Building Size | 38,997 SF |
| Cap Rate | 8.08% | Average Occupancy | 94% |
| No. Units | 36 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1997 |
| Property Subtype | Apartment | Parking Ratio | 0.21/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | R-3 | ||
| Price | $2,745,000 |
| Price Per Unit | $76,250 |
| Sale Type | Investment |
| Cap Rate | 8.08% |
| No. Units | 36 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 2.16 AC |
| Building Size | 38,997 SF |
| Average Occupancy | 94% |
| No. Stories | 3 |
| Year Built | 1997 |
| Parking Ratio | 0.21/1,000 SF |
| Zoning | R-3 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Storage Space
- Heating
- Kitchen
- Walk-In Closets
- Deck
- Patio
- Wheelchair Accessible (Rooms)
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Laundry Facilities
- Playground
- Maintenance on site
- Online Services
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 9 | - | 663 |
| 2+1 | 18 | - | 850 |
| 3+1 | 3 | - | 850 |
| 3+2 | 6 | - | 1,107 |
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PROPERTY TAXES
| Parcel Number | 010-03810001002 | Improvements Assessment | $2,521,000 |
| Land Assessment | $269,000 | Total Assessment | $2,790,000 |
PROPERTY TAXES
Parcel Number
010-03810001002
Land Assessment
$269,000
Improvements Assessment
$2,521,000
Total Assessment
$2,790,000
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Bell Apartments | 1201 E Bell Ave
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