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$ 640,000
Est. payment | /mo
16 Beds
8 Baths
5,686 SqFt
$ 640,000
Est. payment | /mo
16 Beds
8 Baths
5,686 SqFt
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Pending
Purchase Type For Sale
Square Footage 5,686 sqft
Price per Sqft $112
MLS Listing ID 708619
Bedrooms 16
Full Baths 8
HOA Y/N No
Year Built 1971
Annual Tax Amount $12,680
Lot Size 0.474 Acres
Acres 0.474
Property Description
4001 E University Ave offers an exceptional investment opportunity in Des Moines, IA. This 8-unit multifamily property features 2-bedroom units in a strategic location less than 10 minutes from downtown, with easy access to shopping, dining, and entertainment on University Ave.
The property includes ample parking and a generous greenspace with a patio, enhancing tenant appeal. RUBS (Ratio Utility Billing System) is being implemented for utilities, offering increased revenue potential. Tenants already cover electric bills, and water billing is in place, with heat implementation underway.
Recent renovations have driven rent increases, with most units on Month-to-Month leases, providing flexibility for a new owner to optimize financial performance. The property maintains high occupancy, with just one unit currently vacant due to renovations. Its strong rental history highlights tenant satisfaction and demand.
This income-generating property combines steady cash flow, value appreciation potential, and adaptability to market changes, making it an excellent addition to any portfolio. Don't miss this opportunity to own a high-performing asset in the dynamic Des Moines real estate market.
The property includes ample parking and a generous greenspace with a patio, enhancing tenant appeal. RUBS (Ratio Utility Billing System) is being implemented for utilities, offering increased revenue potential. Tenants already cover electric bills, and water billing is in place, with heat implementation underway.
Recent renovations have driven rent increases, with most units on Month-to-Month leases, providing flexibility for a new owner to optimize financial performance. The property maintains high occupancy, with just one unit currently vacant due to renovations. Its strong rental history highlights tenant satisfaction and demand.
This income-generating property combines steady cash flow, value appreciation potential, and adaptability to market changes, making it an excellent addition to any portfolio. Don't miss this opportunity to own a high-performing asset in the dynamic Des Moines real estate market.
Location
State IA
County Polk
Area Des Moines East
Zoning NX1
Interior
Heating Hot Water, Natural Gas
Fireplace No
Exterior
Roof Type Asphalt,Shingle
Private Pool No
Building
Dwelling Type Apartment,Multi Family
Foundation Block, Slab
Sewer Public Sewer
Water Public
Schools
School District Des Moines Independent
Others
Tax ID 05003242001000
Monthly Total Fees $1, 056
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
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Listed by Keller Real Estate Services