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$ 1,021,500
Est. payment | /mo
1.09 Acres Lot
$ 1,021,500
Est. payment | /mo
1.09 Acres Lot
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID 751949
HOA Y/N No
Year Built 1970
Annual Tax Amount $15,058
Lot Size 1.090 Acres
Acres 1.09
Property Description
SouthPark Apartments: a well-kept 16-unit building on 1.09 acres in Carlisle, minutes from Des Moines. The big-ticket items are done: a new 25-year roof (2025), new furnaces and central air with separately metered gas (2016), and replacement windows throughout. About $138,500 in documented improvements means you're buying income, not a project. The building has 14 two-bedroom and 2 one-bedroom units, and tenants pay their own gas and electric. Two on-site coin laundry rooms add income, and there's ample off-street parking. Tenancy is exceptionally stable, with a median stay of about six years, and occupancy has historically run above 90%. In-place rents sit well below comparable Carlisle properties, so there is clear upside with no renovation required, and most units are month-to-month. A strong fit for 1031 exchange, year-end, and portfolio investors. The full offering memorandum and financials are available with a signed NDA.
Location
State IA
County Warren
Area Carlisle
Zoning M
Interior
Heating Forced Air, Gas, Natural Gas
Cooling Central Air
Fireplace No
Appliance Dryer, Refrigerator, Stove
Exterior
Roof Type Asphalt,Shingle
Private Pool No
Building
Sewer Public Sewer
Water Public
Schools
School District Carlisle
Others
Tax ID 39140000460
Monthly Total Fees $1, 254
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
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Christopher Konop
Agent License ID: S65502000