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1424 30th St 6 Unit Apartment Building $420,000 ($70,000/Unit) 5.89% Cap Rate Des Moines, IA 50311
EXECUTIVE SUMMARY
Investor-ready 6-unit apartment building at 1424 30th Street in the heart of the Drake neighborhood. This well-located asset features 4 one-bed/one-bath units and 2 two-bed/one-bath units, with stabilized tenancy in place. Recent updates include new siding, roof, and windows. Off-street parking in rear, strong rental demand, and high visibility on a busy corridor make this a solid long-term hold or 1031 exchange candidate. Potential value-add opportunity with utilities being paid by the owner.
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| 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 (ACTUAL - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| 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 | $420,000 | Building Class | B |
| Price Per Unit | $70,000 | Lot Size | 0.16 AC |
| Sale Type | Investment | Building Size | 3,851 SF |
| Cap Rate | 5.89% | Average Occupancy | 100% |
| No. Units | 6 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1910 |
| Property Subtype | Apartment | ||
| Zoning | N5-4 - R3+ - Class: Residential 3+ Zoning: N5-4 Neighborhood District | ||
| Price | $420,000 |
| Price Per Unit | $70,000 |
| Sale Type | Investment |
| Cap Rate | 5.89% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | B |
| Lot Size | 0.16 AC |
| Building Size | 3,851 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1910 |
| Zoning | N5-4 - R3+ - Class: Residential 3+ Zoning: N5-4 Neighborhood District |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 4 | - | - |
| 2+1 | 2 | - | - |
1 1
PROPERTY TAXES
| Parcel Number | 100-09663000000 | Total Assessment | $305,000 (2025) |
| Land Assessment | $25,900 (2025) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $279,100 (2025) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
100-09663000000
Land Assessment
$25,900 (2025)
Improvements Assessment
$279,100 (2025)
Total Assessment
$305,000 (2025)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2024
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Presented by
The York Companies
1424 30th St
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