SoldMar 22, 2023

Listed and Bought with Crystal Arguello from Realty ONE Group Impact

Source: Des Moines Area Association of REALTORS #654828

1327 13th Street, Des Moines, IA, 50314

$395,000

5
5
7480 sq. ft.
7480 sq. ft.

Apartment

•

30+ days on the market

Sold: Mar 22, 2023

What's around 1327 13th Street

About this property

INVESTORS!!! Take a look at this value to add/ cash-flowing, 5plex, conveniently located minutes from downtown and Drake University. The property is fully occupied; leases are signed with a current rental certificate. A handyman living in one of the units helps with almost all maintenance, repairs, updates, and management of the property. Rents are $725, $725, $900, $725, and $900, with the tenants paying utilities (water, gas, electric) that are at $725, and tenants not paying utilities that are at $900 (all tenants are current on rent and have never had a problem). The approximate annual NOI is $36,300. Recent updates include a new roof, parking lot, sidewalk, flooring, appliances, windows, paint, and other miscellaneous items. Vacant storage space in the basement (600 SF) could be converted into an additional unit to help build additional equity/ cash flow; plumbing and electrical are already roughed in. Reach out TODAY for more detailed information regarding the finances and quality of the property.

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Seller's review

over 3 years ago

Harding working & knowledgeable

Crystal was amazing from start to finish. She was very a responsive to all my needs and helpful in keeping me up to date through the whole selling process.

D
Dan Langworthy
Seller

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