Welcome to the Wright Apartments. An exceptional investment opportunity in the heart of the highly sought after Ingersoll & Grand Corridor, one of the most coveted locations in the Des Moines metro. This historic property features a 10,653 SF building with 8 units, including six large 2-bedroom units and two 1-bedroom units, offering an ideal mix of living spaces. Many updates have been made to the units, enhancing their appeal and marketability. The potential for the 2-bedroom units to be easily converted to 3-bedroom units adds further flexibility and value to this remarkable investment. Built in 1912 and zoned MX2, this property offers a unique blend of historical charm and modern development opportunities. With 50% occupancy and a brand new $50k boiler, there's significant room for immediate upside. Don't miss out on the chance to add this distinctive, well-located property to your portfolio and capitalize on the burgeoning multifamily and low-rise/garden investment market in the Des Moines area.
MLS# | 700116 |
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Listing Type | For Sale |
Style | Town House / Duplex |
Sub-Type | Resale |
Status | Pending |
Year | 1912 |
Days On Site | 38 |
Listing Provided By | EXP Realty, LLC | Liz Keller |
Bed(s) | 14 |
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Bath(s) | 8 Total |
SQ Feet | 9,818 |
Basement | Y |
Units | 8 |
Zoning | MX2 |
Acreage | 0.50 |
Date | Sales | Avg $ Per SqFt | Min Sale Price | Max Sale Price | Med Sale Price |
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Date: Jul 2024 | Sales: 1 | Avg $ Per SqFt: $83.03 | Min Sale Price: $115,000 | Max Sale Price: $115,000 | Med Sale Price: $115,000 |
Date: May 2024 | Sales: 1 | Avg $ Per SqFt: $233.92 | Min Sale Price: $360,000 | Max Sale Price: $360,000 | Med Sale Price: $360,000 |
Date: Mar 2024 | Sales: 2 | Avg $ Per SqFt: $181.88 | Min Sale Price: $185,000 | Max Sale Price: $680,000 | Med Sale Price: $432,500 |
Date: Feb 2024 | Sales: 1 | Avg $ Per SqFt: $232.39 | Min Sale Price: $475,000 | Max Sale Price: $475,000 | Med Sale Price: $475,000 |
Jul 2024 | |
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Sales: | 1 |
Avg $ Per SqFt: | $83.03 |
Min Sale Price: | $115,000 |
Max Sale Price: | $115,000 |
Med Sale Price: | $115,000 |
May 2024 | |
Sales: | 1 |
Avg $ Per SqFt: | $233.92 |
Min Sale Price: | $360,000 |
Max Sale Price: | $360,000 |
Med Sale Price: | $360,000 |
Mar 2024 | |
Sales: | 2 |
Avg $ Per SqFt: | $181.88 |
Min Sale Price: | $185,000 |
Max Sale Price: | $680,000 |
Med Sale Price: | $432,500 |
Feb 2024 | |
Sales: | 1 |
Avg $ Per SqFt: | $232.39 |
Min Sale Price: | $475,000 |
Max Sale Price: | $475,000 |
Med Sale Price: | $475,000 |
Attachments | |
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Loading |
State | IA |
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County | Polk |
City | Des Moines |
Zip Code | 50312 |
Area | Des Moines West |
Listing VS Median (in 50312) | |
Price: $1,000,000 low | high Med: $399,900 100% of Average SqFt: 9,818 low | high Med: 2,254 100% of Average $ / SqFt: $102 low | high Med: $177 24.188917480035% of Average On Site: 38 low | high Med: 30.000000 100% of Average |
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