Introducing a prime investment opportunity in the the very popular Ankeny area: This 6 unit building includes two studios and four one-bedroom units, with five currently leased. This property generates a gross income of $3,400 monthly, with potential close to $5,000.
Each unit is individually metered for electricity and heating, minimizing overhead costs for the owner. Additional amenities include a coin-operated laundry facility in the basement, space for potential storage development, and six large garage stalls offering untapped potential for additional rental income. With minimal updates required and a pro forma cap rate exceeding 9%, this property presents a valuable add-on opportunity in the thriving Des Moines market.
Sold for $325,000
$325,000
110 SW School St, Ankeny, IA 50023
4beds
2,866sqft
Multi Family, Apartment
Built in 1921
-- sqft lot
$355,500 Zestimate®
$113/sqft
$1,196 Estimated rent
Home value
$355,500
$327,000 - $384,000
$1,196/mo
Zestimate® history
Owner options
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$1,196/mo
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$1,196/mo
Rent Zestimate®
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$1,783/mo
Est. payment
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$1,783/mo
Est. payment
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Zillow last checked:
Listing updated:
Listed by:
Chase Keller (319)231-1160,
RE/MAX Precision,
Kirby, Joshua 515-402-7941,
RE/MAX Precision
Bought with:
Chase Keller
RE/MAX Precision
Kirby, Joshua
RE/MAX Precision
Source: DMMLS,MLS#: 694991
Originating MLS: Des Moines Area Association of REALTORS
Originating MLS: Des Moines Area Association of REALTORSFacts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 4
- Bathrooms: 9
- Full bathrooms: 9
Heating
- Baseboard, Electric
Cooling
- Window Unit(s)
Features
- Basement: Partially Finished
Interior area
- Total structure area: 2,866
- Total interior livable area: 2,866 sqft
- Finished area below ground: 448
Property
Parking
- Total spaces: 4
- Parking features: Detached, Garage
- Garage spaces: 4
Lot
- Size: 10,802 sqft
- Features: Rectangular Lot
Details
- Parcel number: 18100464000000
- Zoning: R-2
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Multi Family, Apartment
Materials
- Wood Siding
- Foundation: Block, Brick/Mortar
- Roof: Asphalt,Shingle
Condition
- Year built: 1921
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
- Utilities for property: Electricity Available, Natural Gas Available, Water Available
Community & neighborhood
Location
- Region: Ankeny
Other
Other facts
- Listing terms: Cash,Conventional,FHA
- Road surface type: Concrete
Price history
| Date | Event | Price |
|---|---|---|
| 6/20/2024 | Sold | $325,000-3%$113/sqft |
Source:  DMMLS #694991 Report a problem | ||
| 5/15/2024 | Pending sale | $335,000$117/sqft |
Source: DMMLS #694991 Report a problem | ||
| 5/10/2024 | Listed for sale | $335,000+22.3%$117/sqft |
Source: DMMLS #694991 Report a problem | ||
| 1/26/2022 | Sold | $274,000$96/sqft |
Source: DMMLS #643010 Report a problem | ||
| 12/13/2021 | Pending sale | $274,000+123.7%$96/sqft |
Source: DMMLS #643010 Report a problem | ||
| 12/28/2004 | Sold | $122,500-0.3%$43/sqft |
Source: Public Record Report a problem | ||
| 6/26/2003 | Sold | $122,900$43/sqft |
Source: Public Record Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $6,386 +2% | $367,000 |
| 2024 | $6,258 +1.3% | $367,000 |
| 2023 | $6,178 -14.2% | $367,000 +23.2% |
| 2022 | $7,198 +13.4% | $298,000 |
| 2021 | $6,348 -6.3% | $298,000 +22.1% |
| 2020 | $6,778 +12.5% | $244,000 |
| 2019 | $6,024 -6.7% | $244,000 +20.2% |
| 2018 | $6,460 | $203,000 |
| 2017 | $6,460 -4.6% | $203,000 +10.9% |
| 2016 | $6,768 | $183,000 |
| 2015 | $6,768 -0.4% | $183,000 +12.3% |
| 2014 | $6,798 | $163,000 |
| 2013 | -- | $163,000 |
| 2012 | -- | $163,000 |
| 2011 | -- | $163,000 |
| 2010 | -- | $163,000 |
| 2009 | -- | $163,000 |
| 2008 | -- | $163,000 |
| 2007 | -- | $163,000 -1.2% |
| 2006 | -- | $165,000 |
| 2005 | -- | $165,000 +30.4% |
| 2003 | -- | $126,500 +24.9% |
| 2002 | -- | $101,270 |
| 2001 | -- | $101,270 |
Find assessor info on the county website
Neighborhood: 50023
Nearby schools
GreatSchools rating
- 6/10Heritage ElementaryGrades: K-5Distance: 1.4 mi
- 8/10Parkview Middle SchoolGrades: 6-7Distance: 0.1 mi
- 7/10Ankeny High SchoolGrades: 10-12Distance: 0.8 mi
Schools provided by the listing agent
- District: Ankeny
Source: DMMLS. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
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$355,500
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$362,610
- Iowa
- Polk County
- Ankeny
- 50023
- 110 SW School St
Nearby cities
Nearby zip codes
Other Ankeny Topics
