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$ 620,000
Est. payment /mo
New
1940 Arlington AVE Des Moines, IA 50314
4,858 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type See Remarks
Listing Status Active
Purchase Type For Sale
Square Footage 4,858 sqft
Price per Sqft $127
MLS Listing ID 70707
HOA Y/N No
Year Built 1926
Annual Tax Amount $8,652
Lot Size 0.360 Acres
Acres 0.36
Property Sub-Type See Remarks
Source Central Iowa Board of REALTORS®
Land Area 4858
Property Description
Built for cash flow and positioned for long-term upside, this 9-unit apartment building in Des Moines' historic River Bend neighborhood offers an attractive opportunity for investors seeking immediate income. The property features eight 1-bedroom units and one 2-bedroom unit and is currently fully rented aside from one unit, providing strong in-place occupancy with an opportunity to lease the remaining space. Current performance exceeds the 1% rule, making this a compelling addition to an investment portfolio. Residents enjoy a beautiful courtyard and outdoor common area, while newer concrete work at the entrance adds to the property's curb appeal and functionality. A 2-car garage and additional basement storage provide further value and operational flexibility. Conveniently located near downtown Des Moines, employment centers, transit, and neighborhood amenities, 1940 Arlington Avenue combines dependable rental income, desirable unit mix, and future potential in an established urban neighborhood.
Location
State IA
County Polk
Zoning NX2
Body of Water Public
Interior
Heating Hot Water
Cooling Window Unit(s)
Flooring Carpet
Exterior
Garage Yes
Building
Foundation Block
Sewer Public Sewer
Water Public
Structure Type Other
Schools
School District Des Moines
Listed by Keller Williams Legacy Group