17th Street Flats 739 17th Street

​​​​​​​CBRE is pleased to exclusively offer for sale 17th Street Flats, a 5-unit multifamily community located in Des Moines, Iowa. Originally constructed in 1924 and substantially renovated in 2019, the property presents investors with an opportunity to acquire a well-maintained, boutique apartment asset in one of Iowa’s strongest rental markets. 

Situated just west of Downtown Des Moines, the property benefits from proximity to many of the city’s most desirable destinations, including Pappajohn Sculpture Park, Hoyt Sherman Place, and the vibrant Ingersoll Avenue corridor. Residents enjoy convenient access to major employment centers, entertainment venues, retail amenities, and dining options throughout the urban core. As Iowa’s capital city and largest metro area, Des Moines is home to a diverse economy supported by nationally recognized employers in the insurance, financial services, healthcare, logistics, and technology sectors, creating a strong foundation for long-term apartment demand.

17th Street Flats consists of five residential units totaling approximately 4,020 rentable square feet. The unit mix includes two one-bedroom/one-bathroom units and three two-bedroom/two-bathroom units, with an average unit size of approximately 804 square feet. The property features common laundry facilities, surface parking, and a full appliance package including refrigerators, ranges, dishwashers, and microwaves. Residents are separately metered for electricity, while ownership currently pays gas, water, sewer, and trash expenses. With in-place rents averaging approximately $973 per month, 17th Street Flats offers investors a stabilized asset positioned to benefit from the continued growth and investment occurring throughout the Des Moines metropolitan area.

Please click here for more information:https://www.cbredealflow.com/buyer/agreement?pv=oGUcWx-HMsLNQzzB_3nNqUFtrL2S8EDmREjEW8Etnx1CuruI8XoewAP76kKS6gDw

Address: 739 17th St, Des Moines, IA 50314​​​​​​​
List Price: $550,000
Year Built/Renovated: 1924/2019
Number of Units: 5
Unit Mix: 2-1BR/1BA; 3-2BR/2BA
Avg. Unit Size: 804 SF 
Total Building SF: 4,020
Avg. In Place Rent: $973
Parking: Surface
Parcel Size: 0.18 acres