1077 27th St, Des Moines, IA 50311

Don't miss this opportunity to own a versatile 5-plex in Des Moines! Well-maintained with a mix of 2-bed, 1-bed, and efficiency units. Each unit has its own bathroom and kitchen. Just 2 blocks from campus at Drake University. Walkability in this area is fantastic. Tenants are able to walk the couple blocks to campus, or the many restaurants and shops along University Ave. You’re also directly in the center of the whole metro, so getting anywhere is going to be a breeze. 5 blocks to the Interstate, Only a mile from Downtown. Also Plenty of off-street parking for tenants. The opportunity on this property is huge. 3 of the units are rented, leaving the other two units open multiple strategies for the new buyer. Traditional long term rentals, Drake University students, short term rentals, medium term rentals like traveling nurses, you’re less than 2 miles to all three large hospitals downtown. It’s an older property, but this has been well maintained and in go This property offers a good mix of units. One two bedroom unit, two One Beds, and two studios. Asking price on this is only $240,000. This puts the Caprate at 8.75%, cash on cash return of just shy of 12%, that includes everything, property management, utilities, maintenance taxes, insurance, CapEx reserves. If you’re doing short or medium term rental, those numbers are going to look even better. Rental Certification renewed earlier this year.