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About This Home
This 5-bedroom, 7-bathroom residential multi family at 3419 1st Street in Des Moines, IA is listed for $279,900 ($85 per sqft). Built in 1890, the home offers 3,306 sqft of living space on a 0.23 acres lot.
Investor opportunity! This income-producing 7-unit multifamily property offers an affordable entry point into multifamily ownership with immediate cash flow and future upside. Located in the desirable Highland Park area of Des Moines, the property features a strong rental history, current rental certificate, and separately metered utilities to help minimize owner expenses.
Several units have been refreshed, and major capital improvements have already been completed, including a new roof, new sewer line, and new backflow system in 2025. Off-street parking and a detached garage provide added tenant convenience. Situated near public transportation, shopping, restaurants, and neighborhood amenities, this property continues to benefit from strong rental demand.
Whether you're a first-time investor looking to build a portfolio or a seasoned investor seeking an affordable value-add asset, this property offers stable income today with additional rental growth potential tomorrow. Current rental certificate in place. Financial information available upon request.
Key Features
- Built in 1890
- 0.23 acre lot
- 2 stories
Property Details
Amenities
Monthly Cost Estimate
$1,497/mo
20% down · 6.5% · 30 years
Estimates only. Actual payments may vary.
Location
3419 1st Street
Des Moines, IA 50313
Property Details
Construction
Parking
Heating
Cooling
Appliances
Questions & Answers
This 5-bedroom, 7-bathroom residential multi family at 3419 1st Street is listed at $279,900 ($85/sqft). The estimated monthly payment is $1,213 based on 20% down at 6.5% interest.
Key features include: Built in 1890, 0.23 acre lot, 2 stories.
This property is listed by Ryan Rivera and can be reached at 5155545870 or Ryan@ZealtyNow.com.
