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The Woods Apartments 2525-2535 Clarkson Ave 34 Unit Apartment Building $2,150,000 ($63,235/Unit) 8.30% Cap Rate Des Moines, IA 50310
Investment Highlights
- Nearly all units have been renovated
- Avg. unit rent of $802 + utility reimbursements
- Many recent capital improvements
- Ideal unit mix of studios, one-beds, and two-beds
- Owner does NOT pay for heat, gas is only used for dryers and the water heater in Building 2535
Executive Summary
AVAILABLE INDIVIDUALLY OR AS A PORTFOLIO WITH THE ADJACENT 45-UNIT “CLARKSON APARTMENTS”
CBRE is pleased to offer the opportunity to acquire The Woods Apartments, a 34-unit apartment community strategically located in Des Moines, Iowa. Situated at the nexus of Douglas Avenue and MLK Jr Parkway, the property benefits from exceptional accessibility and proximity (under 10 minutes) to key retail, entertainment, and dining hubs including downtown Des Moines, Ingersoll Avenue, Beaverdale, and Merle Hay Mall. The location is also proximate to major employers such as Bridgestone-Firestone, Drake University, Broadlawns Medical Center, and the VA Central Iowa Health Care System.
The Woods Apartments boasts an attractive unit mix of studios, one- and two-bedroom apartments, with nearly all units recently renovated. Additional capital improvements include a new hot water heater in 2025, new asphalt parking lot in 2025, new retaining walls, and updated landscaping. This offering presents investors with a compelling opportunity to acquire a stabilized property with immediate cash flow.
Please click here for more information: https://www.cbredealflow.com/buyer/agreement?pv=CxucyCANPygOEDg5g0h4T0Pt0Es1M0mK9DBklMroJwC2AzgSemh94Nnyg-K7oTmN
Address: 2525 & 2535 Clarkson Ave, Des Moines, IA 50310
List Price: $2,150,000
Cap Rate: 8.30%
Year Built: 1975
Number of Units: 34
Renovated Units: Nearly all units have been renovated with unit entry doors, new cabinets, countertops, vanities, new appliances, LVP flooring, paint, plumbing and lighting fixtures, and blinds.
Unit Mix: 10-Studios; 4-1BR/1BA; 20-2BR/1BA
Total Building SF: 24,960
Avg. Unit Rent: $802 (+ Utility Reimbursements)
Recent Capital Improvements:
New asphalt overlay in summer 2025
New hot water heater in 2025
Retaining walls, drain tile and swale in 2024
Nearly all individual and common water heaters have been replaced
High intensity exterior LED lighting
Steel secured entrance exterior doors with keypad
Unit entry doors - metal door and metal frame
Complete common area hallway and laundry room renovation (lights, pain, carpet)
All units have Gyp-Crete floors and sound channels between units for sound reduction
CBRE is pleased to offer the opportunity to acquire The Woods Apartments, a 34-unit apartment community strategically located in Des Moines, Iowa. Situated at the nexus of Douglas Avenue and MLK Jr Parkway, the property benefits from exceptional accessibility and proximity (under 10 minutes) to key retail, entertainment, and dining hubs including downtown Des Moines, Ingersoll Avenue, Beaverdale, and Merle Hay Mall. The location is also proximate to major employers such as Bridgestone-Firestone, Drake University, Broadlawns Medical Center, and the VA Central Iowa Health Care System.
The Woods Apartments boasts an attractive unit mix of studios, one- and two-bedroom apartments, with nearly all units recently renovated. Additional capital improvements include a new hot water heater in 2025, new asphalt parking lot in 2025, new retaining walls, and updated landscaping. This offering presents investors with a compelling opportunity to acquire a stabilized property with immediate cash flow.
Please click here for more information: https://www.cbredealflow.com/buyer/agreement?pv=CxucyCANPygOEDg5g0h4T0Pt0Es1M0mK9DBklMroJwC2AzgSemh94Nnyg-K7oTmN
Address: 2525 & 2535 Clarkson Ave, Des Moines, IA 50310
List Price: $2,150,000
Cap Rate: 8.30%
Year Built: 1975
Number of Units: 34
Renovated Units: Nearly all units have been renovated with unit entry doors, new cabinets, countertops, vanities, new appliances, LVP flooring, paint, plumbing and lighting fixtures, and blinds.
Unit Mix: 10-Studios; 4-1BR/1BA; 20-2BR/1BA
Total Building SF: 24,960
Avg. Unit Rent: $802 (+ Utility Reimbursements)
Recent Capital Improvements:
New asphalt overlay in summer 2025
New hot water heater in 2025
Retaining walls, drain tile and swale in 2024
Nearly all individual and common water heaters have been replaced
High intensity exterior LED lighting
Steel secured entrance exterior doors with keypad
Unit entry doors - metal door and metal frame
Complete common area hallway and laundry room renovation (lights, pain, carpet)
All units have Gyp-Crete floors and sound channels between units for sound reduction
Property Facts
| Price | $2,150,000 | Apartment Style | Low-Rise |
| Price Per Unit | $63,235 | Building Class | C |
| Sale Type | Investment | Lot Size | 1.21 AC |
| Cap Rate | 8.30% | Building Size | 24,960 SF |
| No. Units | 34 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1975 |
| Property Subtype | Apartment | ||
| Zoning | C-2 | ||
| Price | $2,150,000 |
| Price Per Unit | $63,235 |
| Sale Type | Investment |
| Cap Rate | 8.30% |
| No. Units | 34 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 1.21 AC |
| Building Size | 24,960 SF |
| No. Stories | 3 |
| Year Built | 1975 |
| Zoning | C-2 |
Amenities
Unit Amenities
- Cable Ready
- Microwave
- Kitchen
- High Speed Internet Access
- Tub/Shower
Site Amenities
- 24 Hour Access
- Laundry Facilities
- Tenant Controlled HVAC
- Recycling
- Trash Pickup - Curbside
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 10 | - | - |
| 1+1 | 4 | - | - |
| 2+1 | 20 | - | - |
1 1
Fairly walkable
40/100
Very drivable
80/100
Minimal public transit
10/100
Moderately bikeable
60/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $1,397,000 | |
| Land Assessment | $255,000 | Total Assessment | $1,652,000 |
Property Taxes
Parcel Numbers
Land Assessment
$255,000
Improvements Assessment
$1,397,000
Total Assessment
$1,652,000
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The Woods Apartments | 2525-2535 Clarkson Ave
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