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421 College Ave
Des Moines, IA 50314
Multifamily Property For Sale
·
18 Units
INVESTMENT HIGHLIGHTS
- Fully Renovated
- Close Proximity to Downtown
- High End Finished
EXECUTIVE SUMMARY
421 College Ave is a boutique, multi-family community offering luxury one-bedroom apartments in the historic Riverbend/Sixth Avenue Corridor of northern Des Moines. Nestled in one of the city’s most charming neighborhoods, The 421 combines comfort, convenience, and class in a peaceful, well-connected setting. With immediate access to I-235 and I-80, you’re only minutes from the East Village’s vibrant culture, downtown entertainment, and the Des Moines International Airport. Whether commuting to work or enjoying a night out, everything you need is within easy reach.
PROPERTY FACTS
| Price Per Unit | $137,893 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 1.06 AC |
| Cap Rate | 8.10% | Building Size | 10,762 SF |
| No. Units | 18 | No. Stories | 3 |
| Property Type | Multifamily | Year Built/Renovated | 1971/2023 |
| Property Subtype | Apartment | Parking Ratio | 1.56/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | R-3 | ||
| Price Per Unit | $137,893 CAD |
| Sale Type | Investment |
| Cap Rate | 8.10% |
| No. Units | 18 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 1.06 AC |
| Building Size | 10,762 SF |
| No. Stories | 3 |
| Year Built/Renovated | 1971/2023 |
| Parking Ratio | 1.56/1,000 SF |
| Zoning | R-3 |
AMENITIES
UNIT AMENITIES
- Kitchen
- Refrigerator
- Oven
- Range
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 18 | - | 550 |
PROPERTY TAXES
| Parcel Number | 080-05058000000 | Improvements Assessment | $1,043,152 CAD |
| Land Assessment | $78,593 CAD | Total Assessment | $1,121,745 CAD |
PROPERTY TAXES
Parcel Number
080-05058000000
Land Assessment
$78,593 CAD
Improvements Assessment
$1,043,152 CAD
Total Assessment
$1,121,745 CAD
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