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2936 E Walnut Street, Des Moines, IA 50317

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For Sale

$225,000

0.28 acres

Estimated Payment

$      /mo. †

APR for 30 years

Change Loan Terms

  • Multi-Family (2-4 Units)
    Property type

  • Newly Listed
    Time on Century 21

  • 0.3 acres
    Lot size

  • Over 50 Years Old
    Age

Explore this Property

Here's a great opportunity to own a 5-unit property just steps from the Iowa State Fairgrounds -- a setup that doesn't come along often. You'll find a 4-plex plus a detached single-family home on one lot, giving you multiple income streams and plenty of flexibility.The property currently brings in $3,750/month in rent (units at $650, $650, $650, $850, and $950). The two upstairs units are long-term tenants, while the others offer room for rent increases or improvements over time. The landlord currently pays all utilities, providing a value-add opportunity for a new owner to transition to tenant-paid utilities and boost cash flow. There's also tons of off-street parking, including extra income during the State Fair when parking demand goes up.If you've been looking for an affordable multifamily property with strong numbers and even stronger potential, this is it.
MLS# 68865

Courtesy Of RE/MAX REAL ESTATE CENTER

2324663

Property Features

  • Age
    Over 50 Years Old
  • Architecture Style
    Other
  • Heating System
    Forced Air
  • Lot Size
    0.28 Acres

Map and Directions

Directions to 2936 E Walnut Street, Des Moines, IA 50317

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Monthly Payment Breakdown

  • Principle and Interest
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Calculators provided for estimating purposes only. Consult with your lender to determine precise payment requirements.

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Copyright © 2025 Central Iowa Board of Realtors, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified. Information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

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This information is provided for general informational purposes only and should not be relied on in making any home-buying decisions. School information does not guarantee enrollment. Contact a local real estate professional or the school district(s) for current information on schools. This information is not intended for use in determining a person's eligibility to attend a school or to use or benefit from other city, town or local services.

† Based on a 30-year fixed rate of 3.38% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.