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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
- Stable income performance supported by a true operating cap rate.
- Located in the walkable Sherman Hill neighborhood with strong renter demand.
- Projected rental upside aligned with strengthening market fundamentals.
- Historic character with original built-ins and authentic wood finishes.
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 with projected rental upside of 10.2% as
market rents continue to strengthen. Ideal for
investors looking for a stable return with long-term
growth potential.
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 with projected rental upside of 10.2% as
market rents continue to strengthen. Ideal for
investors looking for a stable return with long-term
growth potential.
Data Room Click Here to Access
- Offering Memorandum
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 - Residential | ||
| 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 - Residential |
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 |
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Moderately walkable
70/100
Very drivable
80/100
Some public transit
40/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 030-01050001000 | Improvements Assessment | $524,000 |
| Land Assessment | $17,000 | Total Assessment | $541,000 |
Property Taxes
Parcel Number
030-01050001000
Land Assessment
$17,000
Improvements Assessment
$524,000
Total Assessment
$541,000
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Street
Map
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Contact the Sale Advisor
The Delester Apartments | 811 16th St