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2822 Cottage Grove Avenue

Des Moines, IA 50311
  • $230,000
  • STATUS: Active
  • ON SITE: 32 Days
  • MLS #: 662874
UPDATED: 25 min ago
$230,000
  • 6
    BEDS
  • 0.15
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 2,618
    SQFT
  • $88
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1890
County:

School Ratings & Info

School District:

Description

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. Youre 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, theres 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, thats a 8.1% Caprate and a 10.2% Cash on cash, thats 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.

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© 2022 Des Moines Multiple Listing Service. IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by the MLS or Rundall Real Estate Group | Keller Williams Greater Des Moines. Data last updated: 2022-11-30T22:22:09.523.
www.rundallgroup.com/homes/134342797
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2822 Cottage Grove Avenue Des Moines, IA 50311

  • Price: $230,000
  • Status: Active
  • On Site: 32 Days
  • Updated: 25 min ago
  • MLS #: 662874
6
Beds
0
Baths
0
½ Baths
0.15
Acres
2,618
SQFT
$88
$/SQFT
1890
Built
Neighborhood:
Des Moines West
County:
Polk
Area:
Des Moines West
School District:
Des Moines Independent
Property Description
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. Youre 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, theres 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, thats a 8.1% Caprate and a 10.2% Cash on cash, thats 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.
Exterior Features

Architectural Style Two Story Foundation Details Brick/Mortar Levels Two

Interior Features

Basement Unfinished Basement YN Yes Cooling Central Air Cooling YN Yes Heating Forced AirGas Heating YN Yes

Property Features

Gross Income 2000 Lease Considered YN No Listing Terms CashConventional Lot Size Dimensions 50X133 Operating Expense 413 Owner Pays Water Property Sub Type Multi Family Property Sub Type Additional Multi Family Tax Annual Amount 2938 Tenant Pays ElectricityGas Utilities Electricity AvailableNatural Gas AvailableWater Available Zoning N5

Listing provided courtesy of Re/Max Concepts: (515) 279-6700. © 2022 Des Moines Multiple Listing Service.
© 2022 Des Moines Multiple Listing Service. IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by the MLS or Rundall Real Estate Group | Keller Williams Greater Des Moines. Data last updated: 2022-11-30T22:22:09.523.
 
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Rundall Real Estate Group | Keller Williams Greater Des Moines
4001 Westown Parkway
West Des Moines IA, 50266