Northtown Apartments 3830 6th Avenue

CBRE is pleased to offer for sale Northtown Apartments, a 47 unit value-add apartment community located in Des Moines, Iowa. The property is situated directly north of Highland Park, along the 6th Avenue Corridor, one of Des Moines’ most dynamic urban submarkets that has experienced significant revitalization and gentrification in recent years.

Northtown Apartments benefits from immediate proximity to a growing collection of locally owned restaurants, bars, and coffee shops, including ChaCha’s Bakery, Lachele’s Fine Foods, and The Slow Down Coffee Co., which have helped transform the corridor into a vibrant, walkable neighborhood. This reinvestment has driven increased renter demand and has positioned the area as a compelling alternative to higher priced neighborhoods such as Beaverdale, Ingersoll, and Downtown Des Moines.

Constructed in 1967 and 1969, the property consists of two three story buildings offering a mix of studio, one bedroom, and two bedroom apartments. Units feature functional layouts and traditional finishes, providing investors with the opportunity to implement targeted interior upgrades to drive rental growth while maintaining affordability.

3808 & 3830 6th Ave, Des Moines, IA 50313
List Price: $2,650,000 ($56,383/unit)
2026 Assessed Value: $2,913,600
Cap Rate: 8.28%
Year Built: 1967 & 1969
Number of Units: 47
Occupancy: 96%
Unit Mix: 2-Studios, 18-1BR/1BA; 27-2BR/1BA
Total Building SF: 34,550
Avg. In Place Rent: $739
Number of Buildings: 2
Parking: Surface

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