1940 Arlington Avenue,Des Moines, IA 50314
Des Moines, IA 50314
Description
Built for cash flow and positioned for long-term upside, this 9-unit apartment building in Des Moines’ historic River Bend neighborhood offers an attractive opportunity for investors seeking immediate income. The property features eight 1-bedroom units and one 2-bedroom unit and is currently fully rented aside from one unit, providing strong in-place occupancy with an opportunity to lease the remaining space. Current performance exceeds the 1% rule, making this a compelling addition to an investment portfolio. Residents enjoy a beautiful courtyard and outdoor common area, while newer concrete work at the entrance adds to the property’s curb appeal and functionality. A 2-car garage and additional basement storage provide further value and operational flexibility. Conveniently located near downtown Des Moines, employment centers, transit, and neighborhood amenities, 1940 Arlington Avenue combines dependable rental income, desirable unit mix, and future potential in an established urban neighborhood.
Details
| MLS # | 744968 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1926 |
| Days On Site | 45 |
| Listing Provided By | Keller Williams Legacy Group | Ryan Rohlf |
Features
| Bed(s) | 10 |
|---|---|
| Bath(s) | 9 Total |
| SQ Feet | 4,858 |
| Garage | 2 |
| Basement | Y |
| Story(s) | 2 |
| Units | 9 |
| Zoning | Res |
| Acreage | 0.36 |
Exterior
| Lot Features | Rectangular Lot |
|---|
Parking
| Garage Yes / No | Yes |
|---|---|
| Parking Features | Detached, Garage, Two Car Garage |
Taxes
| Tax Annual Amount | 8652 |
|---|
Area Information
| State | IA |
|---|---|
| County | Polk |
| City | Des Moines |
| Zip Code | 50314 |
| Area | Des Moines N.West |
| Listing VS Median (in 50314) | |
Price: $620,000 low | high Med: $200,000 sqft: 4,858 low | high Med: 1,567 $ / sqft: $128 low | high Med: $128 On site: 45 low | high Med: 407 | |
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Learn More About This Property
| State | IA |
|---|---|
| County | Polk |
| City | Des Moines |
| Zip Code | 50314 |
| Area | Des Moines N.West |
| Listing VS Median (in 50314) | |
Price: $620,000 low | high Med: $200,000 sqft: 4,858 low | high Med: 1,567 $ / sqft: $128 low | high Med: $128 On site: 45 low | high Med: 407 | |
