3419 1st Street, Des Moines, IA 50313
- $260,000
- 5
- BD
- 7
- BA
- 3,306
- SqFt
- Sold Price
- $260,000
- List Price
- $279,900
- Status
- CLOSED
- Days on Market
- 145
- Closing Date
- Sep 02, 2026
- MLS#
- 735080
- Subtype
- Multi Family
- Style
- Two Story
- Architectural Style
- Two Story
- Year Built
- 1890
- Bedrooms
- 5
- Bathrooms
- 7
- Full Baths
- 7
- Living Area
- 3,306
- Lot Size
- 9,825
- Acres
- 0.23
- MLS Area Major
- Des Moines N.East
Property Description
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.
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Additional Information
- Taxes
- $5,579
- Property Description
- Two Story
- Zoning
- N5
- Appliances
- Refrigerator, Stove
- Heating
- Hot Water, Natural Gas
- Air Conditioning
- Window Unit(s)
- Stories
- 2
- Roof
- Asphalt, Shingle
- Parking Features
- Detached, Garage, Two Car Garage
- Garage Spaces
- 2
- School District
- Des Moines Independent
Mortgage Calculator
Listing courtesy of Ryan Rivera with Zealty Home Advisors
Selling Office: Keller Williams Realty GDM.Data courtesy of the Des Moines Area Association of REALTORS