2936 E Walnut Street new Save Request In-Person Tour Request Virtual Tour
Des Moines,IA 50317
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 2,224 sqft
Price per Sqft $101
MLS Listing ID 729659
Style Two Story
Year Built 1924
Annual Tax Amount $5,662
Tax Year 2024
Lot Size 0.275 Acres
Property Description
Here's a great opportunity to own a 5-unit property just steps from the Iowa State Fairgrounds — a setup that doesn't come along often. You'll find a 4-plex plus a detached single-family home on one lot, giving you multiple income streams and plenty of flexibility.
The property currently brings in $3,750/month in rent (units at $650, $650, $650, $850, and $950). The two upstairs units are long-term tenants, while the others offer room for rent increases or improvements over time. The landlord currently pays all utilities, providing a value-add opportunity for a new owner to transition to tenant-paid utilities and boost cash flow. There's also tons of off-street parking, including extra income during the State Fair when parking demand goes up.
If you've been looking for an affordable multifamily property with strong numbers and even stronger potential, this is it.
Location
State IA
County Polk
Area Des Moines East
Zoning N3C
Interior
Heating Forced Air,Gas,Natural Gas
Cooling Window Unit(s)
Exterior
Parking Features Carport
Utilities Available Electricity Available,Natural Gas Available,Water Available
Roof Type Asphalt,Shingle
Building
Foundation Brick/Mortar
Sewer Public Sewer
Water Public
Schools
School District Des Moines Independent
Others
Monthly Total Fees $471
Acceptable Financing Cash,Conventional,FHA
Listing Terms Cash,Conventional,FHA