Duplex Opportunity with Upside!

Better Commercial is excited to bring you this Duplex with some good upside. 2822 Cottage Grove Ave in Des Moines. Location is huge on this Duplex Opportunity. Only 2 blocks from the center of campus of Drake University. Walkability in this area is fantastic. You’re also directly in the center of the whole metro, so getting anywhere is going to be a breeze. 6 blocks to the Interstate, Less than 2 miles from Downtown. Plenty of off-street parking for tenants.

This property has been recently renovated including windows, roof, gutters, some siding work and painting, flooring. HVAC has been updated and separated with central air.

Both units are occupied at $1000 a month with 12 month leases. While this property is cash flowing, there’s a lot of meat on the bone with getting rents pushed up to market level. Both units are 3 Bed, 1 Bath with around 1300sf, Market rent is $1200-1300. Tenants pay electric and gas, owner only has water/garbage. Coin Op Laundry available to tenants in the basement for additional income.

Asking price on this is $235,000, With getting rents pushed up, that’s a 8.1% Caprate and a 10.2% Cash on cash, that’s including property management, maintenance, and budgeting for CapEx.
Property Management is in place for an easy turnkey transition, or you can self-manage or bring on your own management.

This is a solid investment. Good price with good upside.

https://www.youtube.com/watch?v=LLoyQ2zc05I&list=PLbnKUJrqD9VdqiXsZn70JOV_R-b_djxx6&index=3

Location is huge on this Duplex Opportunity. Only 2 blocks from the center of campus of Drake University. Walkability in this area is fantastic. You’re also directly in the center of the whole metro, so getting anywhere is going to be a breeze. 6 blocks to the Interstate, Less than 2 miles from Downtown. Plenty of off-street parking for tenants.

Des Moines is a very stable real estate market compared to many other areas. With extremely low unemployment, growing jobs and population Des Moines offers a lot of long-term potential for investors. Iowa is one of the best states for landlord protections and is a friendly state to do business. Des Moines has been increasing in population and jobs as well because of the low cost of living, but the high standard of living.
A vibrant gem in the heart of the prairie, Des Moines is named for the river that snakes through the city. This is Iowa's capital (and the county seat of Polk County), and it is filled with things to do. From concerts at the historic Salisbury House to the collections at Des Moines Art Center, and from the 81 miles of hiking and biking trails to the Greater Des Moines Botanical Gardens, Des Moines offers so much that it was named one of the top 10 cities in which to live by US News.
Home to such companies as John Deere, Pioneer, Corteva, Meredith Corporation, Wells Fargo, Voya Financial, and Principal Financial Group, Des Moines is considered one of the nation's wealthiest cities.
Greater Des Moines is vibrant, growing and experiencing tremendous momentum. Metrics such as gross domestic product growth, population growth and employment growth show DSM as one of the strongest metros in the Midwest. Greater Des Moines is home to many business successes and has received numerous accolades over the past several years. These recognitions include being named one of the top 10 best cities to live and work, one of the best cities for jobs, one of the top 10 places with the most job opportunities per capita and a top metro for economic development projects. Such accomplishments can be attributed to DSM’s talented workforce, impressive education ranking and strong business economy.

- Better Commercial with Remax Concepts

Location:

2822 Cottage Grove Ave, Des Moines, IA 50311