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Clarkson Apartments 2519 Clarkson Ave 45 Unit Apartment Building $2,850,000 ($63,333/Unit) 8.28% Cap Rate Des Moines, IA 50310
Investment Highlights
- All units have been renovated with LVP flooring, carpet, paint, appliances, cabinets, countertops, light fixtures, and door hardware
- New roof on Building C in 2026
- All new hot water heaters (8 total) in Buildings B and C
- New asphalt parking lot overlay and restriping
- New boiler in Building A; all other boilers are mostly less than 10 years old
- Newer steel unit entrance doors and frames
Executive Summary
CBRE is pleased to offer the opportunity to acquire Clarkson Apartments, a 45-unit apartment community in a highly accessible Des Moines, Iowa location. Situated at the intersection of Douglas Avenue and MLK Jr Parkway, the property provides convenient access to major retail, entertainment, and dining destinations, including downtown Des Moines, Ingersoll Avenue, Beaverdale, and Merle Hay Mall, all within a 10-minute radius. Strong local employment is supported by nearby Bridgestone-Firestone, Drake University, Broadlawns Medical Center, and the VA Central Iowa Health Care System.
2519 Clarkson Ave offers an attractive blend of one- and two-bedroom units, with all units already renovated, minimizing immediate capital expenditure. Recent property enhancements include a new asphalt parking lot, newer boilers and hot water heaters, newer windows, and new roof on Building C in 2026. This offering provides investors with an immediate cash flow opportunity and the ability to further enhance returns through strategic value-add initiatives, specifically the conversion of the former leasing office into a rentable unit and the implementation of a gas utility reimbursement program.
Please click here for more information: https://www.cbredealflow.com/buyer/agreement?pv=4bG09jH9QaVX3kKDE4Lf6MalVTfIKsfTeLNDqxaviKRb8fMWpGgEQr2Fg6E3Sl7Y
Address: 2519 Clarkson Ave, Des Moines, IA 50310
List Price: $2,850,000
Cap Rate: 8.28%
Year Built: 1972
Number of Units: 45
Renovated Units: All units have been renovated with LVP flooring, carpet, paint, appliances, painted or replaced cabinets, resurfaced countertops, new light fixtures, and new door hardware throughout
Unit Mix: 32-1BR/1BA; 13-2BR/1BA
Total Building SF: 27,360
Avg. Unit Rent: $794
2519 Clarkson Ave offers an attractive blend of one- and two-bedroom units, with all units already renovated, minimizing immediate capital expenditure. Recent property enhancements include a new asphalt parking lot, newer boilers and hot water heaters, newer windows, and new roof on Building C in 2026. This offering provides investors with an immediate cash flow opportunity and the ability to further enhance returns through strategic value-add initiatives, specifically the conversion of the former leasing office into a rentable unit and the implementation of a gas utility reimbursement program.
Please click here for more information: https://www.cbredealflow.com/buyer/agreement?pv=4bG09jH9QaVX3kKDE4Lf6MalVTfIKsfTeLNDqxaviKRb8fMWpGgEQr2Fg6E3Sl7Y
Address: 2519 Clarkson Ave, Des Moines, IA 50310
List Price: $2,850,000
Cap Rate: 8.28%
Year Built: 1972
Number of Units: 45
Renovated Units: All units have been renovated with LVP flooring, carpet, paint, appliances, painted or replaced cabinets, resurfaced countertops, new light fixtures, and new door hardware throughout
Unit Mix: 32-1BR/1BA; 13-2BR/1BA
Total Building SF: 27,360
Avg. Unit Rent: $794
Property Facts
| Price | $2,850,000 | Apartment Style | Low-Rise |
| Price Per Unit | $63,333 | Building Class | C |
| Sale Type | Investment | Lot Size | 1.41 AC |
| Cap Rate | 8.28% | Building Size | 27,360 SF |
| No. Units | 45 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1972 |
| Property Subtype | Apartment | ||
| Zoning | C-2 | ||
| Price | $2,850,000 |
| Price Per Unit | $63,333 |
| Sale Type | Investment |
| Cap Rate | 8.28% |
| No. Units | 45 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 1.41 AC |
| Building Size | 27,360 SF |
| No. Stories | 2 |
| Year Built | 1972 |
| Zoning | C-2 |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 32 | - | 702 |
| 2+1 | 13 | - | 800 |
1 1
Fairly walkable
50/100
Very drivable
80/100
Limited public transit
30/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 080-00609000000 | Improvements Assessment | $1,974,000 |
| Land Assessment | $296,000 | Total Assessment | $2,270,000 |
Property Taxes
Parcel Number
080-00609000000
Land Assessment
$296,000
Improvements Assessment
$1,974,000
Total Assessment
$2,270,000
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Clarkson Apartments | 2519 Clarkson Ave
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