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6306 Urbandale Ave
Des Moines, IA 50322 Merle Hay

$249,000 USD

Multifamily For Sale  •  2,260 SF

Property Details

  • Property Type Multifamily
  • Total Building Size 2,260 SF
  • Lot Size 0.16 AC
  • Year Built 1952
  • Zoning N3B
33 Transit Score
62 Walk Score

Highlights

Hybrid income model: one furnished medium-term rental + one long-term tenant
MTR performance: historically near 100% occupancy, typically $1,900–$2,100/mo, average stays 1–3 months
Value-add upside: long-term tenant month-to-month at $625 vs. ~$1,000/mo market rent
NOI: $19,687 current | ~$23,000 projected with rent push on 6306
Major updates completed: roof, windows, doors, exterior paint; sewer line replaced (2025); furnished unit flooring/upgrades (2022)
Prime central metro corridor: quick access to I-235 (~5 min), Downtown DSM (~10 min), I-80/35 (~5 min); near Merle Hay area retail/dining

Public Transportation

AirportDriveWalkDistance
Des Moines International 18 min - 8.8 mi

Parking Details

Parking Available: Yes
Reserved: No
Spaces Provided: 4
Type: Surface
Included in Rent: Yes
Chase Keller, CCIM 319-231-1160 CHASE. Collective
Chase Keller, CCIM 319-231-1160 CHASE. Collective