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(712) 307-7134
Arrowhead Realty Co. LLC
910 S 5th Street, Carlisle, IA 50047
- $1,021,500
- List Price
- $1,021,500
- Status
- ACTIVE
- Days on Market
- 0
- MLS#
- 751949
- Subtype
- Commercial Sale
- Year Built
- 1970
- Lot Size
- 47,480
- Acres
- 1.09
- MLS Area Major
- Carlisle
Property Description
SouthPark Apartments: a well-kept 16-unit building on 1.09 acres in Carlisle, minutes from Des Moines. The big-ticket items are done: a new 25-year roof (2025), new furnaces and central air with separately metered gas (2016), and replacement windows throughout. About $138,500 in documented improvements means you’re buying income, not a project. The building has 14 two-bedroom and 2 one-bedroom units, and tenants pay their own gas and electric. Two on-site coin laundry rooms add income, and there’s ample off-street parking. Tenancy is exceptionally stable, with a median stay of about six years, and occupancy has historically run above 90%. In-place rents sit well below comparable Carlisle properties, so there is clear upside with no renovation required, and most units are month-to-month. A strong fit for 1031 exchange, year-end, and portfolio investors. The full offering memorandum and financials are available with a signed NDA.
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Additional Information
- Taxes
- $15,058
- Zoning
- M
- Appliances
- Dryer, Refrigerator, Stove
- Heating
- Forced Air, Gas, Natural Gas
- Air Conditioning
- Central Air
- Roof
- Asphalt, Shingle
- School District
- Carlisle
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Listing courtesy of Dennis Darnell with Realty ONE Group Impact
Data courtesy of the Des Moines Area Association of REALTORS