Listed by NAI Iowa Realty Commercial - Cedar Rapids, NAI Iowa Realty Commercial - Des Moines, Iowa Realty Commercial
$1,900,000
Grandeur Vine Apartments
Details
Property Type Multifamily
Sub Type Apartment Building, Low-Rise/Garden
Square Footage 15,120
Units 16
NOI $93,470
Occupancy 100%
Pro-Forma NOI $127,650
Year Built 1992
Acreage 1.100
Zoning RH
Multifamily | 16 Units
Marketing description
Easy to see Pride of Ownership with long time Original Owner
16 Unit Property, (7) 2bd2ba, (8) 2bd1ba, and (1) 1bd1ba unit with 16 additional garage units
On Site Laundry, Secured Access and Private balconies/patios.
Tenants pay Gas/Electric. Owner pays Water/Sewer/Trash 100% Occupied
Newer roof and gutters installed approx 2022.
Highly desired, West Des Moines location near the intersection of Grand Ave and Vine St. Walkable location to schools, shopping and parks.
Investment highlights
Listing Contacts
Listed by NAI Iowa Realty Commercial - Cedar Rapids, NAI Iowa Realty Commercial - Des Moines, Iowa Realty Commercial
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$93,470.00
$7,789.17/mo
Valuation Metrics
0
DSCR
4.92%
Cap Rate
4.92%
ROI
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