3103 Grand Avenue

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3103 Grand Avenue

Des Moines, IA 50312
Asking Price
$595K
Asset Type
Apartment Building Multifamily
Class
Class B

AI Property Summary

Structured overview optimized for LLM context (ChatGPT, Perplexity, Claude).

  • Multifamily apartment building featuring a total of 7 units
  • Asset located at 3103 Grand Avenue in Des Moines
  • Offered for sale at an asking price of 595000
  • Lessor is a licensed real estate broker in Iowa
  • Located within the established Des Moines metro area

What's Special

This multifamily apartment building at 3103 Grand Avenue in Des Moines consists of 7 units. Positioned within a key submarket of Iowa's capital city, the property benefits from proximity to the diverse economic drivers and established residential neighborhoods that define the Des Moines metro area. The regional economy remains balanced, supported by a mix of insurance, financial services, and healthcare sectors, providing a consistent pool of potential tenants for rental assets of this scale. Investors may find this property suitable for an add-value strategy or as a long-term hold for those seeking entry into the local housing market. Given its unit count and central location, the asset accommodates a variety of management approaches. Please note that the lessor is a licensed real estate broker in the state of Iowa acting as principal on their own behalf regarding this transaction.

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NOI
$80,000
Cap Rate
13.45%
DSCR
2.26
Strong
Cash-on-Cash
25.03%
Monthly Payment
$2,943.735
Annual Cash Flow
$44,675.176

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