Updated Oct 28, 2024
Value Add Real Estate Co Acquires Multifamily Property In Des Moines, IA For $17.8M
600 East 5th Street, Des Moines, Iowa 50309, United States
$17,800,000
Units
127
Asset Type
MultiFamily
Closing
Oct 25, 2022
About this deal
AI
The multifamily property located at 600 East 5th St in Des Moines, IA was sold on October 26, 2022. The property consists of 127 units, with a per unit price of $140,157. The total sale price for the property was $17,800,000.
Summary of transaction details
- Property Type: Multifamily
- Transaction Amount: $17,800,000
- Units: 127
- Price per Unit: $140,157
- Market: Des Moines, IA
The buyer in this transaction was Value Add Real Estate Co, represented by JLL Capital Markets as their broker.
Players
Des Moines MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.89%
Cash-on-Cash
-0.25%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93