110 SW School Street Ankeny, IA 50023
Introducing a prime investment opportunity in the the very popular Ankeny area: This 6 unit building includes two studios and four one-bedroom units, with five currently leased. This property generates a gross income of $3, 400 monthly, with potential close to $5, 000. Each unit is individually metered for electricity and heating, minimizing overhead costs for the owner. Additional amenities include a coin-operated laundry facility in the basement, space for potential storage development, and six large garage stalls offering untapped potential for additional rental income. With minimal updates required and a pro forma cap rate exceeding 9%, this property presents a valuable add-on opportunity in the thriving Des Moines market.
- Property TypeMulti-Family
- NeighborhoodN/A
- CountyPolk
- Taxes$6,178
- HOA/Condo/Coop Fees$0
- Days on Site26 Days
- MLS StatusPending
- MLS ID Number694991
- Home Size Source N/A
- Year Built1921
- Lot Size0.248 Acres
- Full Baths9
- Partial BathsN/A
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General Features
- Construction Wood Siding
- Parking DetachedGarage
- Sewer Public Sewer
- Basement Partially Finished
- Acreage 0.248
- Water Public
- Property Sub Type Apartment
- Garage Spaces 4
- Attached Garage No
- Utilities Electricity AvailableNatural Gas AvailableWater Available
- Foundation BlockBrick/ Mortar
- Zoning R-2
Interior Features
- Cooling Window Units
- Heating BaseboardElectric
- Furnished? Unfurnished
Exterior Features
- Roof AsphaltShingle
- Lot Rectangular Lot
Community Features
- MLS Area Ankeny