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The Argonne 1729 Grand Ave 45 Unit Apartment Building For Sale Des Moines, IA 50309
Investment Highlights
- A Historic Landmark Reimagined for Modern Living
- Strategic Location Near Major Employers, Retailers, Entertainment, and Highway Connectivity
- Unique Pre-Set Tax Abatement and Tax Incremental Financing Bene fits
- Offered Free and Clear of Existing Debt
Executive Summary
As exclusive advisor, MMG Real Estate Advisors is pleased to offer the opportunity to purchase The Argonne, 45-unit mixed-use asset located in the heart of Des Moines. This historic landmark seamlessly blends timeless characteristics, such as original hardwood flooring and wood frame windows, with extensive modern upgrades, including central
HVAC, modernized electrical systems, updated kitchen packages, and in-unit laundry. The Argonne also provides future ownership with an exceptional property tax incentive package, providing stabilized bottom-line returns with benefits secured through 2042.
HVAC, modernized electrical systems, updated kitchen packages, and in-unit laundry. The Argonne also provides future ownership with an exceptional property tax incentive package, providing stabilized bottom-line returns with benefits secured through 2042.
Financial Summary (Actual - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| 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 | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Sale Type | Investment | Lot Size | 0.91 AC |
| No. Units | 45 | Building Size | 39,587 SF |
| Property Type | Multifamily | Average Occupancy | 93% |
| Property Subtype | Apartment | No. Stories | 4 |
| Apartment Style | Mid-Rise | Year Built/Renovated | 1919/2020 |
| Building Class | B | ||
| Zoning | R-4 - Residential | ||
| Sale Type | Investment |
| No. Units | 45 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | B |
| Lot Size | 0.91 AC |
| Building Size | 39,587 SF |
| Average Occupancy | 93% |
| No. Stories | 4 |
| Year Built/Renovated | 1919/2020 |
| Zoning | R-4 - Residential |
Amenities
Unit Amenities
- Washer/Dryer
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
Site Amenities
- 24 Hour Access
- Business Center
- Property Manager on Site
- Smoke Free
- Elevator
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 37 | $791.00 | 310 - 385 |
| 1+1 | 8 | $1,095 | 487 - 888 |
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Moderately walkable
70/100
Exceptionally drivable
100/100
Some public transit
50/100
Very bikeable
80/100
Property Taxes
| Parcel Number | 030-03395000000 | Improvements Assessment | $7,568,000 |
| Land Assessment | $319,000 | Total Assessment | $7,887,000 |
Property Taxes
Parcel Number
030-03395000000
Land Assessment
$319,000
Improvements Assessment
$7,568,000
Total Assessment
$7,887,000
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The Argonne | 1729 Grand Ave
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