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BaStone Apartments 2127 Indianola Ave 35 Unit Apartment Building $2,100,000 ($60,000/Unit) 8.36% Cap Rate Des Moines, IA 50315
INVESTMENT HIGHLIGHTS
- Value Add Opportunity
- Common area coin-operated laundry
- Two surface parking lots
- Strong Occupancy History
EXECUTIVE SUMMARY
CBRE is pleased to offer for sale BaStone Apartments in Des Moines, Iowa. This 35-unit property consists of 4 buildings and is located less than two miles south of the Des Moines CBD, and offers convenient access to transportation, restaurants and entertainment options. The location offers excellent potential for stable apartment occupancy, thanks to its proximity to major employment hubs in downtown Des Moines.
PROPERTY FACTS
| Price | $2,100,000 | Building Class | C |
| Price Per Unit | $60,000 | Lot Size | 1.00 AC |
| Sale Type | Investment | Building Size | 14,336 SF |
| Cap Rate | 8.36% | Average Occupancy | 97% |
| No. Units | 35 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1964/2023 |
| Property Subtype | Apartment | Parking Ratio | 1.6/1,000 SF |
| Apartment Style | Garden | ||
| Zoning | C-1 | ||
| Price | $2,100,000 |
| Price Per Unit | $60,000 |
| Sale Type | Investment |
| Cap Rate | 8.36% |
| No. Units | 35 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 1.00 AC |
| Building Size | 14,336 SF |
| Average Occupancy | 97% |
| No. Stories | 2 |
| Year Built/Renovated | 1964/2023 |
| Parking Ratio | 1.6/1,000 SF |
| Zoning | C-1 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Cable Ready
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Freezer
- Vinyl Flooring
SITE AMENITIES
- 24 Hour Access
- Courtyard
- Laundry Facilities
- Multi Use Room
- Public Transportation
- Walk-Up
- Smoke Detector
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PROPERTY TAXES
| Parcel Number | 010-01096001000 | Improvements Assessment | $1,804,000 |
| Land Assessment | $176,000 | Total Assessment | $1,980,000 |
PROPERTY TAXES
Parcel Number
010-01096001000
Land Assessment
$176,000
Improvements Assessment
$1,804,000
Total Assessment
$1,980,000
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BaStone Apartments | 2127 Indianola Ave
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