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1419 E 40th St

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Address: 1419 E 40th St, Des Moines, IA 50317, USA

Chicago & Midwest + 2-4 Units

Created date: October 8, 2024

Date last updated: October 9, 2024

Price: $230,000
Both 3-Bed, 1-Bath units
All Utilities Separated
Proforma CapRate: 8.5%
CoC Return: 14.5% with IRBD
Interest Rate Buydown possible

Property Description

Great Off-Market 3 Bed Duplex Opportunity in Des Moines' East side. $230,000 One unit is recently vacated. Occupied unit is on month to month at $700, rent comps are $1300. It needs a little work to get there, but it won't take much. All utilities separated and tenants take care of Lawn & Snow. Both units have all 3 bedrooms and bathroom on Upper Level, with the Living Room and Kitchen on the Main Level. Built 1983. CapRate 8.5% 12.3% Cash on Cash Return after renovation Buy before Interest Rates drop and buyer demand floods back into the market. Potential Seller paid Rate Buy-down available.

Available

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Broker Details

Chase Keller, CCIM

CHASE. Collective 319-231-1160 MLS ID: 344000905

Key Property Information

Listing Status:	Available
Listing Type:	Call for offers
Property Types:	2-4 Units
Price:	$230,000
No. of Units:	2
Average Occupancy:	8.35
Year Built:	1983
Lot Size:	0.20 Sq ft
Opportunity Zone:	No
Price per unit:	$115,000
Property Website	Click Here