10049 Stark DrWest Des Moines, IA 50266

This exceptional 51-unit multifamily portfolio in West Des Moines, Iowa, presents a compelling investment opportunity. Comprising six, two-story buildings on a nine-acre lot, this Class A property boasts 42,120 square feet of net rentable space and achieved 100% occupancy on August 6, 2024. Built in 2020, the portfolio features a mix of apartment buildings and single-family rental homes, each unit offering high-end finishes including chef's kitchens with upgraded Whirlpool appliances, walk-in pantries, in-suite master baths, walk-in closets, LED recessed lighting, 9-foot ceilings, ceiling fans, and smart HVAC systems. Additional amenities include in-unit laundry, mudrooms with lockers, and full-sized attached two-car garages. Townhomes feature covered porches. The property benefits from a prime location near major employers like Athene, Wells Fargo, and Des Moines University's new medical school campus, and is conveniently situated near Jordan Creek Town Center. The surrounding area showcases affluent demographics with average home values exceeding $500,000 and average household incomes within a one-mile radius reaching $155,000 annually. Currently, rental rates are below market comparables, presenting a significant opportunity to increase revenue as leases are renewed. This fee-simple ownership offers a rare chance to acquire a high-quality, high-performing asset in a thriving West Des Moines market. The property address is 10049 Stark Dr, West Des Moines, IA 50266.