Listed by NAI Iowa Realty Commercial - Cedar Rapids, NAI Iowa Realty Commercial - Des Moines, Iowa Realty Commercial
$1,700,000
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%
Tenancy Multi
Pro-Forma NOI $127,650
Year Built 1992
Acreage 1.100
Zoning RH
Investment Type Value Add
Multifamily | 16 Units
Marketing description
16 Unit Property, 7x 2bd 2ba, 8x 2bd 1ba, and 1x 1bd 1ba 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.
Highly desired, West Des Moines location near the intersection of Grand Ave and Vine St. Walkable location to multiple schools, shopping and parks.
Investment highlights
- 16 Unit Property, 7x 2bd 2ba, 8x 2bd 1ba, and 1x 1bd 1ba 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
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
5.5%
Cap Rate
5.5%
ROI
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