2822 Cottage Grove Ave, Des Moines, IA 50311

Better Commercial is excited to bring you this Duplex with some good upside. 2822 Cottage Grove Ave in Des Moines. Location is huge on this Duplex Opportunity. Only 2 blocks from the center of campus of Drake University. Walkability in this area is fantastic. You’re also directly in the center of the whole metro, so getting anywhere is going to be a breeze. 6 blocks to the Interstate, Less than 2 miles from Downtown. Plenty of off-street parking for tenants. This property has been recently renovated including windows, roof, gutters, some siding work and painting, flooring. HVAC has been updated and separated with central air. Both units are occupied at $1000 a month with 12 month leases. While this property is cash flowing, there’s a lot of meat on the bone with getting rents pushed up to market level. Both units are 3 Bed, 1 Bath with around 1300sf, Market rent is $1200-1300. Tenants pay electric and gas, owner only has water/garbage. Coin Op Laundry available to tenants in the basement for additional income. Asking price on this is $235,000, With getting rents pushed up, that’s a 8.1% Caprate and a 10.2% Cash on cash, that’s including property management, maintenance, and budgeting for CapEx. Property Management is in place for an easy turnkey transition, or you can self-manage or bring on your own management.