Log In/Sign Up
Your email has been sent.
Southern Park Apartments 810 Payton Ave 54 Unit Apartment Building $2,995,000 ($55,463/Unit) 7.54% Cap Rate Des Moines, IA 50315
Investment Highlights
- Significant Upside Potential
- 54 Units
- Attractive Basis of $55K/Unit
- 4-Studio; 26-1BR/BA; 24-2BR/1BA
Executive Summary
CBRE is pleased to offer for sale Southern Park Apartments, an 54-unit multifamily community strategically located in Des Moines’ Greater South Side. The property consists of 4 studio units, 26 one bedroom units, and 24 two bedroom units. Southern Park Apartments enjoys close proximity to the Des Moines International Airport and Southridge Mall, a shopping center anchored by Target with outlots including major retailers like Hy-Vee, Petco, and Hobby Lobby.
Address: 810 Payton Ave, Des Moines, IA 50315
Year Built: 1973
Number of Units: 54
Unit Mix: 4-Studio; 26-1BR/BA; 24-2BR/1BA
Number of Garages: 15
Parking: Surface
Net Rentable SF: 38,350
Avg. Unit Size: 710 SF
Number of Residential Buildings: 2
Parcel Size: 2.31 acres
Please click here for more information: https://www.cbredealflow.com/buyer/agreement?pv=CHXcXWIwKyMULZj231li9oDGKvD9nfsJ3OdyQ855A19CghF2ha0zkdps_KcavrOj
Address: 810 Payton Ave, Des Moines, IA 50315
Year Built: 1973
Number of Units: 54
Unit Mix: 4-Studio; 26-1BR/BA; 24-2BR/1BA
Number of Garages: 15
Parking: Surface
Net Rentable SF: 38,350
Avg. Unit Size: 710 SF
Number of Residential Buildings: 2
Parcel Size: 2.31 acres
Please click here for more information: https://www.cbredealflow.com/buyer/agreement?pv=CHXcXWIwKyMULZj231li9oDGKvD9nfsJ3OdyQ855A19CghF2ha0zkdps_KcavrOj
Property Facts
| Price | $2,995,000 | Apartment Style | Low-Rise |
| Price Per Unit | $55,463 | Building Class | C |
| Sale Type | Investment | Lot Size | 2.31 AC |
| Cap Rate | 7.54% | Building Size | 42,570 SF |
| No. Units | 54 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1973 |
| Property Subtype | Apartment | Parking Ratio | 0.94/1,000 SF |
| Zoning | R1-60 | ||
| Price | $2,995,000 |
| Price Per Unit | $55,463 |
| Sale Type | Investment |
| Cap Rate | 7.54% |
| No. Units | 54 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 2.31 AC |
| Building Size | 42,570 SF |
| No. Stories | 2 |
| Year Built | 1973 |
| Parking Ratio | 0.94/1,000 SF |
| Zoning | R1-60 |
Amenities
Unit Amenities
- Air Conditioning
- Dishwasher
- Disposal
- Microwave
- Kitchen
- Refrigerator
- Oven
- Range
- Carpet
- Vinyl Flooring
Site Amenities
- 24 Hour Access
- Controlled Access
- Laundry Facilities
- Property Manager on Site
- Smoke Free
- Public Transportation
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 4 | - | 324 |
| 1+1 | 26 | - | 576 |
| 2+1 | 24 | - | 804 |
1 1
Walk Score®
Very Walkable (71)
Property Taxes
| Parcel Number | 120-05365003000 | Improvements Assessment | $2,836,000 |
| Land Assessment | $404,000 | Total Assessment | $3,240,000 |
Property Taxes
Parcel Number
120-05365003000
Land Assessment
$404,000
Improvements Assessment
$2,836,000
Total Assessment
$3,240,000
1 of 16
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
1 of 1
Presented by
Southern Park Apartments | 810 Payton Ave
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.
Your message has been sent!
Activate your LoopNet account now to track properties, get real-time alerts, save time on future inquiries, and more.