Listed by CBRE - Des Moines
$775,000
Lovington Apartments
Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 5,016
Units 11
Cap Rate 8.29%
NOI $64,286
Tenancy Multi
Pro-Forma Cap Rate 8.29%
Pro-Forma NOI $64,286
Class B
Year Built 1969
Year Renovated 2025
Buildings 1
Acreage 0.940
Investment Type Value Add
New Multifamily Listing | 11 Units | 8.29% CAP | $170k in Recent CapEx
Marketing description
- Year Built: 1969
- Year Renovated: 2025
- Number of Units: 11
- Unit Mix: All 1BR/1BA
- Avg. In Place Rents: $805
- Parking: Surface
- Heating: Individual furnace
- Cooling: Central A/C
- Water Heater: Individual
Investment highlights
Address: 4671 NW 50th St, Des Moines, IA 50310
List Price: $775,000
Cap Rate: 8.29%
- Over $170,000 in recent capital improvements
- All units fully renovated
- Brand-new septic system
- Recently replaced three A/C units and one furnace
- Residents pay electric and gas. Owner pays water, trash, and vacant unit utilities.
Click here for more information: https://www.cbredealflow.com/buyer/agreement?pv=CI3ic1-mR4troKIpb7ojX39FuEsWFU3i97JTBk50dcrNiduKL8-atkn4BniBzd7G
Listing Contacts
Listed by CBRE - Des Moines
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$64,286.00
$5,357.17/mo
Valuation Metrics
0
DSCR
8.29%
Cap Rate
8.29%
ROI
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