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The Delester Apartments 811 16th St 9 Unit Apartment Building $850,000 ($94,444/Unit) 5.01% Cap Rate Des Moines, IA 50314
Investment Highlights
- True 5.01% Cap Rate – with room for increased returns through rent growth
- 10.2% Upside in Rents – offering a strategic value-add play in a desirable neighborhood
- Historic Character in a prime location with hardwood floors and original built-ins
Executive Summary
The KataLYST Team by KW Commercial is proud to exclusively present 811 16th St. in Des Moines, IA; a well-maintained, historic property in the highly sought-after Sherman Hill neighborhood. Featuring timeless charm with real hardwood floors, original built-ins, and solid craftsmanship, this asset offers both aesthetic appeal and strong fundamentals.
Currently operating at a true 5.01% cap rate, the property presents a compelling value-add opportunity withprojected rental upside of 10.2% as market rents continue to strengthen. Ideal for investors looking for a stable returnwith long-term growth potential.
Currently operating at a true 5.01% cap rate, the property presents a compelling value-add opportunity withprojected rental upside of 10.2% as market rents continue to strengthen. Ideal for investors looking for a stable returnwith long-term growth potential.
Financial Summary (Actual - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| 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 - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| 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
| Price | $850,000 | Apartment Style | Low-Rise |
| Price Per Unit | $94,444 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.14 AC |
| Cap Rate | 5.01% | Building Size | 7,973 SF |
| No. Units | 9 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1915 |
| Property Subtype | Apartment | Parking Ratio | 1/1,000 SF |
| Zoning | R-HD | ||
| Price | $850,000 |
| Price Per Unit | $94,444 |
| Sale Type | Investment |
| Cap Rate | 5.01% |
| No. Units | 9 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.14 AC |
| Building Size | 7,973 SF |
| No. Stories | 3 |
| Year Built | 1915 |
| Parking Ratio | 1/1,000 SF |
| Zoning | R-HD |
Amenities
Unit Amenities
- Air Conditioning
- Microwave
- Heating
- Refrigerator
- Tub/Shower
Site Amenities
- 24 Hour Access
- Tenant Controlled HVAC
- Recycling
- Trash Pickup - Curbside
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 6 | - | 450 - 750 |
| 2+1 | 3 | - | 600 |
1 1
Property Taxes
| Parcel Number | 030-01050001000 | Improvements Assessment | $524,000 (2025) |
| Land Assessment | $17,000 (2025) | Total Assessment | $541,000 (2025) |
Property Taxes
Parcel Number
030-01050001000
Land Assessment
$17,000 (2025)
Improvements Assessment
$524,000 (2025)
Total Assessment
$541,000 (2025)
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The Delester Apartments | 811 16th St
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