Listed by Stanbrough Realty
$325,000
Sherman Hill 4-Plex for Sale
Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 3,070
Net Rentable (SqFt) 3,000
Units 4
Beds 1
Cap Rate 8.60%
NOI $28,006
Occupancy 100%
Tenancy Multi
Pro-Forma Cap Rate 9.28%
Pro-Forma NOI $30,166
Price per SqFt $106
Year Built 1893
Year Renovated 2023
Buildings 1
Acreage 0.115
Zoning R-3
Investment Type Stabilized
Multifamily | 8.60% CAP | 4 Units
Marketing description
This charming 4-unit apartment building is nestled nicely in the Sherman Hill Neighborhood. It includes all 1BR/1BA units (750 SF) that feature In-unit washers/dryers, full kitchenettes, hardwood flooring, full tub/shower bathrooms, fireplaces, built-in bookshelves, large bedrooms and large windows that bring in ample natural light. All units are 100% leased with plenty of demand in this historic neighborhood of Des Moines.
Investment highlights
- Building Size: 3,070 SF
- Lot Size: 0.115
- Number of Units: 4
- Unit Type: 1BR/1BA
- In-place Cap Rate: 8.60%
- Year Built: 1893
- Zoning: R-3
- Market: Sherman Hill Neighborhood
- In-unit washers/dryers
- Tenants Pay Electricity/Gas
- Full kitchenettes
- Hardwood flooring
- Full tub/shower bathrooms
- Fireplaces
- Built-in bookshelves
- Large bedrooms
- Large windows that bring in ample natural light
- All units are 100% leased
Listing Contacts
Listed by Stanbrough Realty
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Loan Amount
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Annual Debt Service
$--
$--
Annual Cash Flow
$28,006.00
$2,333.83/mo
Valuation Metrics
0
DSCR
8.62%
Cap Rate
8.62%
ROI
Map
Zoning
NX2A ResidentialMulti FamilyNeighborhood Mix
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View all 117 uses Last updated May 8, 2026 For deeper zoning details, reports are available at Zoneomics
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