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Capitol East Multifamily Homes & Duplexes for Sale

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  • /33

    $220,000

    • Studio
    • 3 Baths
    • 2,806 Sq Ft

    1513 Des Moines St, Des Moines, IA 50316

    Welcome to 1513 Des Moines Street, a prime multi-unit investment property in the heart of Des Moines. This 3-unit multiplex presents an excellent opportunity for investors seeking immediate rental income with built-in occupancy. Two of the three units are already filled, providing steady cash flow from day one. The property offers three distinct rental units, each with its own full bathroom. The

    Agent Photo

    Darson Grantham

    Keller Williams Realty GDM

    (515) 949-4562

    1513 Des Moines St, Des Moines, IA 50316
  • /18

    $189,900

    • Studio
    • 3 Baths
    • 1,768 Sq Ft

    1642 E Grand Ave, Des Moines, IA 50316

    Great investor opportunity with this tri-plex in east Des Moines! This property is fully occupied with Units 1 and 2 bringing $850 per month and Unit 3 bringing $750 per month. Monthly costs are between $1600-$1800. Cash Flow is great if you're looking for a side hustle! Rental certificate in place. Open to creative financing.

    Bethany Cochran Agency Iowa

    1642 E Grand Ave, Des Moines, IA 50316
  • /2

    $240,000

    • Studio
    • 1 Bath
    • 1,408 Sq Ft

    1613 Des Moines St, Des Moines, IA 50316

    This well-maintained brick duplex is a prime investment opportunity in the heart of Des Moines. Located in the Des Moines Independent school district with quick access to shopping, dining, and major commuter routes, the property has a strong rental history with low vacancy and solid cash-on-cash returns. Each unit offers 2 bedrooms, 1 bathroom, a spacious living area, and a functional kitchen

    Chris Betts RE/MAX Real Estate Center

    1613 Des Moines St, Des Moines, IA 50316

Why Live in Capitol East

Capitol East in Des Moines is a historic neighborhood located just east of the state capitol complex. This urban area is characterized by its family-owned restaurants, boutique shops, and a variety of single-family homes, including traditional bungalows, ranch-style properties, and American Foursquare homes. The neighborhood's gridded residential streets are lined with homes that often feature paved driveways and attached garages, though street parking is common. Public transportation is accessible via the Des Moines Area Regional Transit Authority (DART), with bus routes along East Grand Avenue and U.S. Highway 69. Capitol East is known for its walkability, with residents able to reach Downtown Des Moines, located 2 miles west, either by foot or a short drive. The neighborhood is bordered to the south by the East Des Moines Diamond Railroad Crossing and to the north by Interstate 235, providing access to other parts of Polk County and western Des Moines. Local dining options include Rolling Wok Café for pan-Asian cuisine, Paleteria La Michoacana for Mexican food and ice cream, and Kelly’s Little Nipper, a bar and grill with live music and trivia nights. Shopping opportunities are available at Latin American grocery stores like Tienda Mexicana and Tapatia Grocery, as well as clothing shops such as La Bufa and Lupita’s Boutique. For outdoor recreation, Stewart Square Park, Ashfield Park, and Redhead Park offer playgrounds, picnic areas, and open green spaces. Capitol East is also home to Capitol View Elementary School, part of the Des Moines Independent Community School District. The neighborhood is safer than the national average, making it a practical choice for families and individuals.

Home Trends in Capitol East, IA

Housing Trends

Median Sale Price
$135,000
Median Single Family Sale Price
$132,450
Median Townhouse Sale Price
$167,500
Average Price Per Sq Ft
$121
Number of Homes for Sale
7
Last 12 months Home Sales
29
Months of Supply
2.90
Median List Price
$140,000
Median Change From 1st List Price
4%
Median Home Sale Price YoY Change
-4%
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