The Woods Apartments
New Multifamily Listing | 34 Units | 9.01% Cap Rate | Des Moines, IA
Marketing description
AVAILABLE INDIVIDUALLY OR AS A PORTFOLIO WITH THE ADJACENT 45-UNIT “CLARKSON APARTMENTS”
CBRE is pleased to offer the opportunity to acquire The Woods Apartments, a 34-unit apartment community strategically located in Des Moines, Iowa. Situated at the nexus of Douglas Avenue and MLK Jr Parkway, the property benefits from exceptional accessibility and proximity (under 10 minutes) to key retail, entertainment, and dining hubs including downtown Des Moines, Ingersoll Avenue, Beaverdale, and Merle Hay Mall. The location is also proximate to major employers such as Bridgestone-Firestone, Drake University, Broadlawns Medical Center, and the VA Central Iowa Health Care System.
The Woods Apartments boasts an attractive unit mix of studios, one- and two-bedroom apartments, with nearly all units recently renovated. Additional capital improvements include a new hot water heater in 2025, new asphalt parking lot in 2025, new retaining walls, and updated landscaping. This offering presents investors with a compelling opportunity to acquire a stabilized property with immediate cash flow.
Please click here for more information: https://www.cbredealflow.com/buyer/agreement?pv=CxucyCANPygOEDg5g0h4T0Pt0Es1M0mK9DBklMroJwC2AzgSemh94Nnyg-K7oTmN
Investment highlights
- Address: 2525 & 2535 Clarkson Ave, Des Moines, IA 50310
- List Price: $2,020,000
- Cap Rate: 9.01%
- Year Built: 1975
- Number of Units: 34
- Renovated Units: Nearly all units have been renovated with unit entry doors, new cabinets, countertops, vanities, new appliances, LVP flooring, paint, plumbing and lighting fixtures, and blinds.
- Unit Mix: 10-Studios; 4-1BR/1BA; 20-2BR/1BA
- Total Building SF: 24,960
- Avg. Unit Rent: $802 (+ Utility Reimbursements)
- Recent Capital Improvements:
- New asphalt overlay in summer 2025
- New hot water heater in 2025
- Retaining walls, drain tile and swale in 2024
- Nearly all individual and common water heaters have been replaced
- High intensity exterior LED lighting
- Steel secured entrance exterior doors with keypad
- Unit entry doors - metal door and metal frame
- Complete common area hallway and laundry room renovation (lights, pain, carpet)
- All units have Gyp-Crete floors and sound channels between units for sound reduction
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