2936 E Walnut Street, Des Moines, IA 50317
- $215,000
- 2,224
- SqFt
- Sold Price
- $215,000
- List Price
- $225,000
- Status
- CLOSED
- MLS#
- 729659
- Year Built
- 1924
- Closing Date
- Mar 13, 2026
- Living Area
- 2,224
- Lot Size
- 11,973
- Region
- Des Moines East
Property Description
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.
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Additional Information
- Street Name
- E Walnut Street
- Agent Id
- 318000685
- Water
- Public
- Sewer
- Public Sewer
- Basement
- Partially Finished
- Foundation
- Brick/Mortar
- Roof
- Asphalt, Shingle
- Zip
- 50317
- Region
- Des Moines East
- Style
- Two Story
- City
- Des Moines
- Acres
- 0.28
- School District
- Des Moines Independent
- Zoning
- N3C
Mortgage Calculator
Listing courtesy of RE/MAX Real Estate Center. Selling Office: RE/MAX Precision.
Data courtesy of the Des Moines Area Association of REALTORS