EP. 3 - 49-Unit Value-Add Opportunity: Woodland Meadows Apartments, Des Moines, IA
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EP. 3 - 49-Unit Value-Add Opportunity: Woodland Meadows Apartments, Des Moines, IA
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A proposito di questo titolo
In this episode of The Deal Flow, host Spencer Schelp talks with Josh Kirby of Stanbrough Realty about Woodland Meadows Apartments — a 49-unit multifamily opportunity in Des Moines, Iowa with strong value-add potential.
Halfway through renovations and roughly 50% occupied, the property includes $150K in on-site materials (flooring, cabinets, appliances, etc.) ready for the next owner to complete the project. Kirby outlines pricing guidance in the mid-$2M range, an exit valuation near $3.3M, and structures that appeal to investors seeking a hands-on repositioning or short-term depreciation play.
Highlights:
- 49 total units | mix of 1BR & 2BR
- 51% occupancy, 50% renovated
- ~$150K in materials on-site to finish 12–15 more units
- Potential exit ≈ $3.3M at a 7.75% cap
- Boiler heat | RUBs already in place | single parcel
- Attractive basis: under $60K per door in Iowa’s capital metro
🎯 Broker Contact:
Josh Kirby – Stanbrough Realty
📞 515-402-7941
📧 josh.kirby@stanbroughrealty.com
🔗 Property Links:
View on Crexi
View on LoopNet
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