Ginger LTD
Listed by Ginger LTD
$450,000
658 18th Street Charming 6-plex
Details
APN 03004205000000, 3052380046
Property Type Multifamily
Sub Type Apartment Building, Air b&b
Square Footage 2,988
Units 6
Cap Rate 9.81%
NOI $44,163
Occupancy 100%
Tenancy Single
Rent Bumps No
Pro-Forma Cap Rate 8.50%
Price per SqFt $151
Year Built 1880
Buildings 2
Stories 2
Acreage 0.172
Zoning R-HD
Parking Spaces per unit
Investment Type Stabilized
Multifamily | 9.81% CAP | 6 Units
Marketing description
Gross rent $4,935 - Fully occupied 6-plex in the heart of Sherman Hill with separate gas and electric meters for each unit. Property features a mix of unit layouts, multiple kitchens and baths, and a shared basement with on-site laundry. Classic structure with solid bones offering opportunity for future improvements over time. Well-located in one of Des Moines' most established neighborhoods with close proximity to downtown, Ingersoll, and major employers, supporting consistent rental demand. Financials available upon request
Investment highlights
- Gross rent $4,935 - Fully occupied 6-plex in the heart of Sherman Hill with separate gas and electric meters for each unit
- Property features a mix of unit layouts, multiple kitchens and baths, and a shared basement with on-site laundry
- Classic structure with solid bones offering opportunity for future improvements over time
- Well-located in one of Des Moines' most established neighborhoods with close proximity to downtown, Ingersoll, and major employers, supporting consistent rental demand
Listing Contacts
Ginger LTD
Listed by Ginger LTD
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$44,163.00
$3,680.25/mo
Valuation Metrics
0
DSCR
9.81%
Cap Rate
9.81%
ROI
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