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  • 125 days on site
  • 19 views

Investor opportunity! This income-producing 7-unit multifamily property offers an affordable entry point into multifamily ownership with immediate cash flow and future upside. Located in the desirable Highland Park area of Des Moines, the property features a strong rental history, current rental certificate, and separately metered utilities to help minimize owner expenses. Several units have been refreshed, and major capital improvements have already been completed, including a new roof, new sewer line, and new backflow system in 2025. Off-street parking and a detached garage provide added tenant convenience. Situated near public transportation, shopping, restaurants, and neighborhood amenities, this property continues to benefit from strong rental demand. Whether you're a first-time investor looking to build a portfolio or a seasoned investor seeking an affordable value-add asset, this property offers stable income today with additional rental growth potential tomorrow. Current rental certificate in place. Financial information available upon request.

Source: Des Moines Area, MLS#: 735080

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  • Property Type
    Residential Income
  • Lot
    0.23 acres

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Mike Reagan Real Estate Team

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Owning this Home

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* All calculations are estimates and provided by Reliance Network, for informational purposes only. Actual amounts may vary. ** Assumes 6.50% APR, 20% down payment, and conventional 30-year fixed rate first mortgage. Rates cited are for instructional purposes only; current rates are subject to change at any time without notice. You should not make any decisions based simply on the information provided. Additional required amounts such as taxes, insurance, homeowner association dues, assessments, mortgage insurance premiums, flood insurance or other such required payments should also be considered. Contact your mortgage company for current rates and additional information. Any mortgage broker or insurance agent that may appear is independent and is not affiliated with, endorsed by, or provided by the MLS.

Life at 3419 1st Street

Schools


School data courtesy of LiveBy, Inc.
Ratings are based on a scale of 1-5, with 5 being the highest rating and 1 being the lowest rating. The schools displayed on this website are for informational purposes only and may not represent a complete or up-to-date list. School assignments are subject to change and should be verified directly with the local school district. Please contact the appropriate school district to confirm school zoning and enrollment eligibility for this property.

History

Date Event Value Agent
5/20/2026Source: Des Moines Area Price Reduction
$279,900 -3.4%
4/9/2026Source: Des Moines Area Price Reduction
$289,900 -3.4%
2/25/2026Source: Des Moines Area Added to Database
February 25, 2026
10/14/2025Source: Des Moines Area Status Change
Closed
5/5/2025Source: Des Moines Area Status Change
Pending
4/24/2025Source: Des Moines Area Added to Database
April 24, 2025
Listing provided courtesy of Zealty Home Advisors- MLS# 735080MLS ProviderContact Information: (515) 554-5870