Providence Lane Townhomes 210 Wilson St 10 Unit Apartment Building $3,393,480 CAD ($339,348 CAD/Unit) 6.21% Cap Rate Van Meter, IA 50261

Providence Lane Townhomes offers investors the opportunity to acquire a high-quality rental asset in a market supported by desirable demographics and long-term growth potential. Located in Van Meter, Iowa—one of the Des Moines metro's highly sought-after communities—the property benefits from a combination of excellent schools, limited rental competition, and proximity to major employment centers, all of which contribute to sustained rental demand.
Providence Lane Townhomes directly serves this demand by offering spacious 3 bedroom / 2.5 bathroom floor plans, ample storage, washer/dryer, private deck, attached two-car garages, private entrances, and functional layouts that support long-term tenant retention and satisfaction. Located in a cul-de-sac and just steps from K-12 school, these homes are in a location that is difficult to replicate. In addition to the townhomes, there is a 3-bedroom/2-bathroom single family home on the property, as well as a pad lot for 10 additional townhomes (construction drawings available), where underground utilities are already complete.
From a market perspective, Van Meter and the surrounding Dallas County area continue to experience population growth driven by the expansion of the Des Moines metropolitan region. Major employers, retail centers, and entertainment destinations in West Des Moines and Waukee are located within a short commute, allowing residents to enjoy the benefits of a small-town community without sacrificing access to employment and amenities.
The combination of a desirable location, strong tenant appeal, quality construction, and favorable market dynamics creates an investment opportunity that is designed to produce both stable returns and long-term wealth creation.
For investors seeking a durable, income-producing asset in one of Central Iowa's strongest residential markets, Providence Lane Townhomes represents an opportunity to capitalize on the enduring demand for quality housing in a growing community.