Clarkson Apartments
New Multifamily Listing | 45 Renovated Units | 9.02% Cap Rate | Des Moines, IA
Marketing description
AVAILABLE INDIVIDUALLY OR AS A PORTFOLIO WITH THE ADJACENT 34-UNIT “THE WOODS APARTMENTS”
CBRE is pleased to offer the opportunity to acquire Clarkson Apartments, a 45-unit apartment community in a highly accessible Des Moines, Iowa location. Situated at the intersection of Douglas Avenue and MLK Jr Parkway, the property provides convenient access to major retail, entertainment, and dining destinations, including downtown Des Moines, Ingersoll Avenue, Beaverdale, and Merle Hay Mall, all within a 10-minute radius. Strong local employment is supported by nearby Bridgestone-Firestone, Drake University, Broadlawns Medical Center, and the VA Central Iowa Health Care System.
2519 Clarkson Ave offers an attractive blend of one- and two-bedroom units, with all units already renovated, minimizing immediate capital expenditure. Recent property enhancements include a new asphalt parking lot, newer boilers and hot water heaters, newer windows, and new roof on Building C in 2026. This offering provides investors with an immediate cash flow opportunity and the ability to further enhance returns through strategic value-add initiatives, specifically the conversion of the former leasing office into a rentable unit and the implementation of a gas utility reimbursement program.
Please click here for more information: https://www.cbredealflow.com/buyer/agreement?pv=4bG09jH9QaVX3kKDE4Lf6MalVTfIKsfTeLNDqxaviKRb8fMWpGgEQr2Fg6E3Sl7Y
Investment highlights
- Address: 2519 Clarkson Ave, Des Moines, IA 50310
- List Price: $2,655,000
- Cap Rate: 9.02%
- Year Built: 1972
- Number of Units: 45
- Renovated Units: All units have been renovated with LVP flooring, carpet, paint, appliances, painted or replaced cabinets, resurfaced countertops, new light fixtures, and new door hardware throughout
- Unit Mix: 32-1BR/1BA; 13-2BR/1BA
- Total Building SF: 27,360
- Avg. Unit Rent: $794
- Recent Capital Improvements:
- New asphalt parking lot overlay and restriping
- New roof on Building C in 2026
- New boiler in Building A; all other boilers mostly less than 10 years old
- All newer hot water heaters (8 total) in Buildings B and C
- Newer exterior lighting
- Newer steel unit entrance doors and frames
- All windows are less than 10 years old
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