Multifamily Property for Sale in Des Moines, IA

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Des Moines, IA 50313
  • Year built: 1980

Description

Marcus & Millichap is pleased to present the exclusive offering of Radio City Mobile Home Park, a large-scale manufactured housing community located in Des Moines, Iowa. The property contains 142 developed sites (licensed for approximately 170) and is currently 87 percent occupied, providing a balance of stabilized income and meaningful value-add potential through lease-up. With in-place lot rents of $645, increasing to $685 effective June 1, 2026, Radio City offers attractive in-place revenue and significant upside via occupancy growth and incremental rent adjustments. The community is serviced by public water and sewer with sub-metering in place, allowing for resident utility reimbursement and reduced operating expenses. Investment Highlights: • 142 Sites | Licensed for 170 Large Community Scale Supports Operational Efficiencies and Investor Appeal • 87 Percent Occupancy | Solid in-Place Income with Considerable Upside through Filling Vacant Sites • Strong Lot Rents | Current in-Place Average Rent is $645 Per Month, Increasing to $685 Effective June 1, 2026, Providing in-Place Cash Flow with Clear Mark-to-Market Upside • Public Utilities | Sub-Metered – City Water and Sewer with Resident Reimbursement Lowers Owner Expenses and Simplifies Operations • High-Demand Metro Location – Situated in Des Moines, Iowa, a Growing Metro with Strong Employment Drivers, Diverse Economy, and Rising Housing Demand • Value-Add Opportunity | Lease-up of Remaining Vacant Sites and Potential Rent Growth Create Significant Upside for New Ownership • Resident-Owned Homes | Primarily Resident-Owned Units Reduce Management Intensity and Ongoing Capital Obligations

Market Context

This multifamily in Des Moines, IA is listed for sale. It is offered at an approximate 7.1% capitalization rate, a key benchmark for income-producing multifamily assets. The building dates to 1980. It has been on the market for 52 days. Compare it against other multifamily listings for sale in Des Moines, IA — <a href="/search/sale/multifamily/iowa/des-moines">view the full market</a>.

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