WOODLAND DES MOINES, IA 50312

Features

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Facts

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Description

This is an REO, meaning this property has been foreclosed on because the owner couldn't meet their payments. The bank now owns this property. Most banks are not set up to own homes, and are often motivated to sell you the home at a discounted price.

Sold in conjunction with 651 31st St. Sale of both listings incl. 20 TOTAL Units for the combined price.Nice cash flowing asset in a great location just a minute from I235, and the growing Ingersoll Ave strip. Minutes to downtown Des Moines. Strong occupancy, these are easy to fill, all but one unit are occupied. Off street parking with some carports available (also ground that could be used in the future).The 4 brick buildings are in great shape structurally and will have 4 new roofs (20 year transferrable warranties) paid by current owner this spring. These cash flow above average & have additional upside (Currently not charging for laundry & rent increases are 2 areas) 19 one bed units & 1 two bed unit. Units are approx 650 sqft. w/nice kitchen, dining area, living room, bedroom and bathroom. Many units already updated! Also include great basement storage space for each unit; with opportunity to monetize. All info obtained from Seller & public records.