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33228830
33228829

920 Meadow Lane, Des Moines, IA 50315

RH
IA S66838000
CBRE - Des Moines
CM
IA S72227000, SD 21369
CBRE - Des Moines
CF
IA S63632000
CBRE - Des Moines
Listed by CBRE - Des Moines
$5,900,000
7 days on market
Updated 7 days ago

Valley Acres Apartments

Details
Property Type Multifamily
Units 102
Occupancy 97%
Tenancy Multi
Pro-Forma Cap Rate 7.58%
Pro-Forma NOI $447,062
Class B
Year Built 1971
Buildings 13
Acreage 6.860
Investment Type Value Add
Ground Lease No

New Multifamily Listing | 102 Units | 97% Occupied | Des Moines, IA | Near DSM Intl Airport

Marketing description

  • Address:
    • 920, 1015, 1050 Meadow Ln, Des Moines, IA 50315
    • 1150 Luster Ln, Des Moines, IA 50315
    • 7500 Royal Rd, Des Moines, IA 50315
  • List Price: $5,900,000 ($57,843/unit)
  • Cap Rate: 7.58%
  • Year Built: 1971, 1972, 1976, and 1979
  • Number of Units: 102
  • Unit Mix: 62-1BR/1BA; 38-2BR/1BA; 2-3BR/1BA
  • Avg. Unit Size: 778 SF
  • Avg. In Place Rent: $791
  • 2026 Assessed Value: $6,157,900
  • Parking: Surface
  • Parcel Size: 6.864 acres (8 parcels)

The property spans multiple parcels, providing a rare opportunity to control an entire block while allowing for flexible future disposition strategies.

Investment highlights

CBRE is pleased to present the opportunity to acquire Valley Acres Apartments, a 102-unit, value-add multifamily community located in Des Moines, Iowa—one of the Midwest’s fastest growing and most resilient metropolitan areas.

Valley Acres Apartments is strategically positioned just off SW 9th Street, a primary north–south arterial providing excellent connectivity throughout the metro while remaining situated within a stable residential neighborhood. The property is uniquely comprised of multiple parcels, offering a flexible exit strategy and the rare opportunity to control every building on the block. This configuration allows for consistent, cohesive curb appeal and long-term control over the broader micro location.

The community is located minutes from Des Moines International Airport, which is currently undergoing a $600 million expansion, further enhancing regional accessibility and supporting long term economic growth. Valley Acres is also proximate to major recreational and retail amenities, including Blank Park Zoo and Southridge Mall—one of the city’s primary retail destinations. Residents benefit from immediate access to a strong concentration of national and daily needs retailers such as Target, Hy Vee, Marshalls, Hobby Lobby, Menards, and a wide array of dining and service options.

With a compelling value-add business plan and an irreplaceable infill location, Valley Acres Apartments presents investors with a unique opportunity to enhance operations, implement targeted renovations, and capture long term value within a growing Des Moines corridor.

Click here for more information: https://www.cbredealflow.com/buyer/agreement?pv=g0SDaTYqMPA9P4gN5xJPnzN9o8D25TV2d3dRiIdaGVpwM0ffvN_g8iCocFie_U0e

Listing Contacts

RH
IA S66838000
CBRE - Des Moines
CM
IA S72227000, SD 21369
CBRE - Des Moines
CF
IA S63632000
CBRE - Des Moines
Listed by CBRE - Des Moines

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Additional Information

Name
Ray Hamilton
License
S66838000
Brokerage Phone
440-539-5496
Name
Clark Matthews
License
S72227000
Brokerage
CBRE
Title
Senior Associate
Brokerage Address
595 South 60th Street
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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