Northtown Apartments — Sale in Des Moines, IA
- Price: $2.7M
- Listing type: For sale
- Asset type: Multifamily Property
- Location: Des Moines, IA 50313
Photos
Description
NEW LISTING | 47 Units | Des Moines, Iowa | 96% Occupied | Trendy Highland Park Neighborhood CBRE is pleased to offer for sale Northtown Apartments, a 47 unit value-add apartment community located in Des Moines, Iowa. The property is situated directly north of Highland Park, along the 6th Avenue Corridor, one of Des Moines’ most dynamic urban submarkets that has experienced significant revitalization and gentrification in recent years. Northtown Apartments benefits from immediate proximity to a growing collection of locally owned restaurants, bars, and coffee shops, including ChaCha’s Bakery, Lachele’s Fine Foods, and The Slow Down Coffee Co., which have helped transform the corridor into a vibrant, walkable neighborhood. This reinvestment has driven increased renter demand and has positioned the area as a compelling alternative to higher priced neighborhoods such as Beaverdale, Ingersoll, and Downtown Des Moines. Constructed in 1967 and 1969, the property consists of two three story buildings offering a mix of studio, one bedroom, and two bedroom apartments. Units feature functional layouts and traditional finishes, providing investors with the opportunity to implement targeted interior upgrades to drive rental growth while maintaining affordability. 3808 & 3830 6th Ave, Des Moines, IA 50313 List Price: $2,650,000 ($56,383/unit) 2026 Assessed Value: $2,913,600 Cap Rate: 8.28% Year Built: 1967 & 1969 Number of Units: 47 Occupancy: 96% Unit Mix: 2-Studios, 18-1BR/1BA; 27-2BR/1BA Total Building SF: 34,550 Avg. In Place Rent: $739 Number of Buildings: 2 Parking: Surface CLICK HERE FOR MORE INFORMATION: https://www.cbredealflow.com/buyer/findprofile?pv=sj-CmNSk2FaVqlVyBXRnt1Qki4jMpPdNO7IIoiTLcIFtht1Gx1jEwhp8E91Nfgol
Market Context
This multifamily in Des Moines, IA is listed for sale at $2,650,000. Compare it against other multifamily listings for sale in Des Moines, IA — view the full market.
First seen on CREHunt: Sep 23, 2026
Contact
- Cy Fox · 515 415 6109 · cy.fox@cbre.com
- Ray Hamilton · 515 415 6111 · ray.hamilton@cbre.com
- Clark Matthews · 515 415 6131 · clark.matthews@cbre.com
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