multi-family portfolio · zoning: r-3 market des moines / drake portfolio overview ... • new...

KW COMMERCIAL

4001 Westown Parkway

West Des Moines, IA 50266MATT SHAWAssociate0: 515.360.2247C: 515.360.2247mattshawhomes@gmail.com

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: 515.360.2247mattshawhomes@gmail.com

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: 515.360.2247mattshawhomes@gmail.com

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: 515.360.2247mattshawhomes@gmail.com

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: 515.360.2247mattshawhomes@gmail.com

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: 515.360.2247mattshawhomes@gmail.com

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: 515.360.2247mattshawhomes@gmail.com

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: 515.360.2247mattshawhomes@gmail.com

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: 515.360.2247mattshawhomes@gmail.com

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: 515.360.2247mattshawhomes@gmail.com

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: 515.360.2247mattshawhomes@gmail.com

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: 515.360.2247mattshawhomes@gmail.com

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