KW COMMERCIAL 4001 Westown Parkway West Des Moines, IA 50266 MATT SHAW Associate 0: 515.360.2247 C: 515.360.2247 [email protected] Multi-Family Portfolio OFFERING MEMORANDUM PRESENTED BY: DES MOINES, IA OFFERING MEMORANDUM
KW COMMERCIAL
4001 Westown Parkway
West Des Moines, IA 50266MATT SHAWAssociate0: 515.360.2247C: [email protected]
Multi-Family Portfolio
OFFERING MEMORANDUM
PRESENTED BY:
DES MOINES, IA
OFFERING MEMORANDUM
PROPERTY INFORMATION
1 | PROPERTY INFORMATION
EXECUTIVE SUMMARY
RENT ROLL
1PROPERTY INFORMATION1050 21ST ST DES MOINES, IA 50311
OFFERING MEMORANDUM
Each Office Independently Owned and Operated kwcommercial.com
KW COMMERCIAL4001 Westown ParkwayWest Des Moines, IA 50266
Licensed in IOWA to sell Real Estate.
MATT SHAWAssociate0: 515.360.2247C: [email protected]
PROPERTY SUMMARY
PORTFOLIO ASKING PRICE: $1,390,000
NUMBER OF UNITS 4
AVERAGE PRICE/UNIT $57,917
CAP RATE: 10%
NOI (MONTHLY): $1,648
BUILDING SIZE: 2,965 SF
TYPE 2 Stories
ZONING: R-3
MARKET Des Moines / Drake
PORTFOLIO OVERVIEW
KW Commercial is proud to exclusively market for sale a portfolio ofMulti-Family properties with 4 buildings and a total of 24 units. 105021st St, 1333 22nd St, 1042 18th St and 3420 Oxford St. 3 buildingsare located in the Drake neighborhood and 1 in the Oak ParkNeighborhood.
PROPERTY HIGHLIGHTS FOR 1050 21ST ST
• Unit 1:
• New Carpet 2018
• New Paint 2018
• New Screens 2018
• Unit 2 & 3:
• New Carpet 2017
• New Paint 2017
• New Screens 2017
1050 21st St, Des Moines, IA 50311
PART OF A PORTFOLIO FOR SALE
Each Office Independently Owned and Operated kwcommercial.com
KW COMMERCIAL4001 Westown ParkwayWest Des Moines, IA 50266
Licensed in IOWA to sell Real Estate.
MATT SHAWAssociate0: 515.360.2247C: [email protected]
UNIT
NUMBER
UNIT
BED
UNIT
BATH
CURRENT
RENT
1 2 1 $800
2 1 1 $650
3 3 1 $800
4
Garage
1 1 $600
$150
Totals/Averages $3,000
1050 21st St, Des Moines, IA 50311
RENT ROLL
PROPERTY INFORMATION
2 | PROPERTY INFORMATION
EXECUTIVE SUMMARY
RENT ROLL
2PROPERTY INFORMATION1333 22ND ST DES MOINES, IA 50111
OFFERING MEMORANDUM
Each Office Independently Owned and Operated kwcommercial.com
KW COMMERCIAL4001 Westown ParkwayWest Des Moines, IA 50266
Licensed in IOWA to sell Real Estate.
MATT SHAWAssociate0: 515.360.2247C: [email protected]
PROPERTY SUMMARY
PORTFOLIO ASKING PRICE: $1,390,000
NUMBER OF UNITS: 5
AVERAGE PRICE/UNIT $57,917
CAP RATE: 10%
NOI: $1,852
BUILDING SIZE: 2,574 SF
TYPE 2 Stories
ZONING: R-3
MARKET: Des Moines / Drake
PROPERTY OVERVIEWKW Commercial is proud to exclusively market for sale a portfolio ofMulti-Family properties with 4 buildings and a total of 24 units. 1050 21st St,1333 22nd St, 1042 18th St and 3420 Oxford St. 3 buildings are located inthe Drake neighborhood and 1 in the Oak Park Neighborhood.
PROPERTY HIGHLIGHTS• 1050 21st St:
• Unit 1:
• -New Carpet 2018
• -New Paint 201
• -New Screens 2018
• Unit 2 & 3:
• -New Carpet 2017
• -New Paint 2017
• -New Screens 2017
• Unit 4:
• Rental Payment From Des Moines Houseing
• 1333 22nd St:
• Unit 1:
• new
1333 22st St, Des Moines, IA 50311
PART OF A PORTFOLIO FOR SALE
Each Office Independently Owned and Operated kwcommercial.com
KW COMMERCIAL4001 Westown ParkwayWest Des Moines, IA 50266
Licensed in IOWA to sell Real Estate.
MATT SHAWAssociate0: 515.360.2247C: [email protected]
UNIT
NUMBER
UNIT
BED
UNIT
BATH
CURRENT
RENT
1 1 1 $575
2 2 1 $620
3 2 1 $650
4
5
Laundry Income
3
2
1
1
$720
$600
$50
Totals/Averages $3,215
1333 22nd St, Des Moines, IA 50311
RENT ROLL
PROPERTY INFORMATION
3 | PROPERTY INFORMATION
EXECUTIVE SUMMARY
RENT ROLL
3PROPERTY INFORMATION1042 18TH ST DES MOINES, IA 50314
OFFERING MEMORANDUM
Each Office Independently Owned and Operated kwcommercial.com
KW COMMERCIAL4001 Westown ParkwayWest Des Moines, IA 50266
Licensed in IOWA to sell Real Estate.
MATT SHAWAssociate0: 515.360.2247C: [email protected]
PROPERTY SUMMARY
PORTFOLIO ASKING PRICE: $1,390,000 / Portfolio
NUMBER OF UNITS: 9
AVERAGE PRICE/UNIT $52,500
CAP RATE: 10%
NOI (MONTHLY): $4,218
BUILDING SIZE: 6,747 SF
BUILDING TYPE: 3 Stories
ZONING: R-3
MARKET Des Moines / Drake
PROPERTY OVERVIEW
KW Commercial is proud to exclusively market for sale a portfolio ofMulti-Family properties with 4 buildings and a total of 24 units. 105021st St, 1333 22nd St, 1042 18th St and 3420 Oxford St. 3 buildingsare located in the Drake neighborhood and 1 in the Oak ParkNeighborhood.
PROPERTY HIGHLIGHTS
• New Flat roof in August 2017
• New deck & fire escape Oct 2018
• Paint & remodeling done in 4 units
• 2 new sets of coin laundry
1042 18th St, Des Moines, IA 50314
PART OF A PORTFOLIO FOR SALE
Each Office Independently Owned and Operated kwcommercial.com
KW COMMERCIAL4001 Westown ParkwayWest Des Moines, IA 50266
Licensed in IOWA to sell Real Estate.
MATT SHAWAssociate0: 515.360.2247C: [email protected]
UNIT
NUMBER
UNIT
BED
UNIT
BATH
CURRENT
RENT
101
120
103
201
202
203
1
1
3
2
1
3
1
1
1
1
1
1
$630
$500
$895
$700
$500
$850
301 2 1 $700
302 1 1 $525
303
Coin Laundry
3 1 $895
$300
Totals/Averages $6,495
1042 18th St, Des Moines, IA 50314
PART OF A PORTFOLIO FOR SALE
PROPERTY INFORMATION
4 | PROPERTY INFORMATION
EXECUTIVE SUMMARY
RENT ROLL
FINANCIAL SUMMARY
FINANCIAL SUMMARY
DEMOGRAPHICS MAP & REPORT
4PROPERTY INFORMATION3420 OXFORD ST DES MOINES, IA 50313
OFFERING MEMORANDUM
Each Office Independently Owned and Operated kwcommercial.com
KW COMMERCIAL4001 Westown ParkwayWest Des Moines, IA 50266
Licensed in IOWA to sell Real Estate.
MATT SHAWAssociate0: 515.360.2247C: [email protected]
PROPERTY SUMMARY
PORTFOLIO ASKING PRICE: $1,390,000
NUMBER OF UNITS: 6
AVERAGE PRICE/UNIT $57,917
CAP RATE: 10%
NOI: $2,925
BUILDING SIZE: 3,354 SF
TYPE 2 Stories
ZONING: R-3
MARKET: Des Moines
PROPERTY OVERVIEW
KW Commercial is proud to exclusively market for sale a portfolio ofMulti-Family properties with 4 buildings and a total of 24 units. 105021st St, 1333 22nd St, 1042 18th St and 3420 Oxford St. 3 buildingsare located in the Drake neighborhood and 1 in the Oak ParkNeighborhood.
PROPERTY HIGHLIGHTS• 2 Sets of coin laundry.
3420 Oxford St, Des Moines, IA 50313
PART OF A PORTFOLIO FOR SALE
Each Office Independently Owned and Operated kwcommercial.com
KW COMMERCIAL4001 Westown ParkwayWest Des Moines, IA 50266
Licensed in IOWA to sell Real Estate.
MATT SHAWAssociate0: 515.360.2247C: [email protected]
UNIT
NUMBER
UNIT
BED
UNIT
BATH
CURRENT
RENT
1 2 1 $695
2 3 1 $800
3 2 1 $695
4
5
6
Laundry Income
3
2
2
1
1
1
$750
$650
$650
$100
Totals/Averages $4,340
3420 Oxford St, Des Moines, IA 50313
PART OF A PORTFOLIO FOR SALE
Each Office Independently Owned and Operated kwcommercial.com
KW COMMERCIAL4001 Westown ParkwayWest Des Moines, IA 50266
Licensed in IOWA to sell Real Estate.
MATT SHAWAssociate0: 515.360.2247C: [email protected]
INCOME
1050 21ST ST 1333 22ND ST 1042 18TH ST 3420 OXFORD ST PORTFOLIO
Unit 1 $800 $575 $630 $695
Unit 2 $650 $620 $500 $800
Unit 3 $800 $650 $895 $695
Unit 4 $600 $720 $700 $750
Unit 5 $600 $500 $650
Unit 6 $850 $650
Unit 7 $700
Unit 8 $525
Unit 9 $895
Monthly Rent $3,000 $3,165 $6,195 $4,240 $16,600
Garage $150
Laundry Income $300 $100
Less Vacancy $148 $158 $310 $212 $828
MONTHLY INCOME $3,002 $3,007 $6,185 $4,128 $16,322
ANNUAL INCOME $36,024 $36,084 $74,220 $49,536 $195,864
FINANCIAL SUMMEY
Each Office Independently Owned and Operated kwcommercial.com
KW COMMERCIAL4001 Westown ParkwayWest Des Moines, IA 50266
Licensed in IOWA to sell Real Estate.
MATT SHAWAssociate0: 515.360.2247C: [email protected]
OPERATING EXPENSES
1050 21ST ST 1333 22ND ST 1042 18TH ST 3420 OXFORD ST PORTFOLIO
Property Taxes $302 $364 $505 $230 $1,401
Insurance $121 $85 $200 $120 $526
Electric (Budget Billing) $142 $306 $149 $196 $793
Water (Average) $145 $145
Internet $45 $45
Lawn & Snow (Average) $100 $100 $100 $100 $400
Maintenance (Average) $100 $100 $100 $100 $400
Management (5%) $147 $158 $311 $215 $831
MONTHLY OPERATINGEXPENSE $912 $1,258 $1,410 $961 $4,541
ANNUAL OPERATINGEXPENSE $10,944 $15,096 $16,920 $11,532 $54,492
NOI $25,080 $20,988 $57,300 $38,004 $141,372
Principal Reduction (yr 1)
1050 21st St, Des Moines, IA 50311
FINANCIAL SUMMARY
Each Office Independently Owned and Operated kwcommercial.com
KW COMMERCIAL4001 Westown ParkwayWest Des Moines, IA 50266
Licensed in IOWA to sell Real Estate.
MATT SHAWAssociate0: 515.360.2247C: [email protected]
POPULATION 1 MILE 2 MILES 3 MILES
Total population 17,927 53,776 99,314
Median age 27.3 31.0 33.5
Median age (Male) 29.1 31.4 33.1
Median age (Female) 26.6 31.5 34.5
HOUSEHOLDS & INCOME 1 MILE 2 MILES 3 MILES
Total households 7,272 22,548 41,821
# of persons per HH 2.5 2.4 2.4
Average HH income $38,205 $49,027 $57,262
Average house value $177,029 $198,753 $166,437
* Demographic data derived from 2010 US Census
PART OF A PORTFOLIO FOR SALE