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$ 225,000
Est. payment /mo
New
2936 E Walnut ST Des Moines, IA 50317
2,224 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Six Plex
Listing Status Active
Purchase Type For Sale
Square Footage 2,224 sqft
Price per Sqft $101
MLS Listing ID 68865
HOA Y/N No
Year Built 1870
Annual Tax Amount $5,662
Lot Size 0.270 Acres
Acres 0.27
Property Sub-Type Six Plex
Source Central Iowa Board of REALTORS®
Land Area 2224
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.
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
Zoning N3C
Body of Water Public
Rooms
Basement Partial
Interior
Heating Forced Air, Natural Gas
Cooling Window Unit(s)
Exterior
Garage No
Building
Foundation Brick/Mortar
Sewer Public Sewer
Water Public
Structure Type Other
Schools
School District Des Moines
Listed by RE/MAX REAL ESTATE CENTER
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