Village on State Apartments
Price Reduction | Motivated Seller | 32 Units | Largest Suburb of Des Moines | Ankeny, Iowa
Marketing description
CBRE is pleased to offer the opportunity to acquire Village on State Apartments, a well-maintained 32-unit multifamily community located in the thriving city of Ankeny, Iowa. As the largest suburb of Des Moines, Ankeny boasts a population of over 76,000 and has experienced rapid growth—more than doubling since 2000—making it one of the fastest-growing cities in the nation.
Strategically positioned just off State Street, the property offers convenient access to Ankeny Centennial High School, Prairie Ridge Sports Complex, John Deere Des Moines Works, and a variety of retail, dining, and recreational amenities.
Village on State Apartments consists of four buildings built in 1971-1972 and features all 2-bedroom, 1-bath floor plans.
Investment highlights
- Address: 206, 210, 214 & 218 State Street, Ankeny, IA 50023
- List Price: $2,395,000
- Cap Rate: 7.82%
- Year Built: 1971 - 1972
- Number of Units: 32
- Unit Mix: All 2 BR/1BA
- Total Rentable SF: 25,600
- Avg. In Place Rents: $835
- Number of Buildings: 4
- Number of Stories: 2
- Parking: Surface
- Laundry: 1 set of washer/dryer per building (4 sets total); contract with BDS
- Heating: Boiler (1 per building)
- Cooling: Sleeve A/C units
- Water Heater: Common (1 per building)
- Appliance Package: Fridge and stove
CLICK HERE FOR MORE INFORMATION: https://www.cbredealflow.com/buyer/agreement?pv=7J-zjV01k9SekpMFpBQwgEt9JVuUWblKtMJieTZyvU7y-G46v2kX5LRR_m0QxNDA
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