The Wood Apartments — Sale in Des Moines, IA

  • Price: $2M
  • Listing type: For sale
  • Asset type: Business
  • Location: Des Moines, IA 50310

Description

34-unit Apartment Community For Sale in Des Moines CBRE is pleased to offer the opportunity to acquire The Woods Apartments, a 34-unit apartment community strategically located in Des Moines, Iowa. The Woods Apartments boasts an attractive unit mix of studios, one- and two-bedroom apartments, with nearly all units recently renovated. Additional capital improvements include a new hot water heater in 2025, new asphalt parking lot in 2025, new retaining walls, and updated landscaping. This offering presents investors with a compelling opportunity to acquire a stabilized property with immediate cash flow. Address: 2525 & 2535 Clarkson Ave, Des Moines, IA 50310 List Price: $2,020,000 Cap Rate: 9.01% Year Built: 1975 Number of Units: 34 Renovated Units: Nearly all units have been renovated with unit entry doors, new cabinets, countertops, vanities, new appliances, LVP flooring, paint, plumbing and lighting fixtures, and blinds. Unit Mix: 10-Studios; 4-1BR/1BA; 20-2BR/1BA Total Building SF: 24,960 Avg. Unit Rent: $802 (+ Utility Reimbursements) Recent Capital Improvements: New asphalt overlay in summer 2025 New hot water heater in 2025 Retaining walls, drain tile and swale in 2024 Nearly all individual and common water heaters have been replaced High intensity exterior LED lighting Steel secured entrance exterior doors with keypad Unit entry doors - metal door and metal frame Complete common area hallway and laundry room renovation (lights, pain, carpet) All units have Gyp-Crete floors and sound channels between units for sound reduction

Market Context

This commercial property in Des Moines, IA is listed for sale at $2,020,000. It has been on the market for 12 days. Compare it against other commercial property listings for sale in Des Moines, IA — view the full market.

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