Seller's Agent in 2025
Elizabeth Keller
CHASE Collective
(515) 423-5607
1 in this area
238 Total Sales
4001 E University Ave Des Moines, IA 50317
Valley High Manor Neighborhood
Studio
8
Baths
5,686
Sq Ft
0.47
Acre Lot
Highlights
- 8 Kitchens
- No HOA
- Hot Water Heating System
- 0.47 Acre Lot
- Laundry Room
About This Home
As of January 20254001 E University Ave offers an exceptional investment opportunity in Des Moines, IA. This 8-unit multifamily property features 2-bedroom units in a strategic location less than 10 minutes from downtown, with easy access to shopping, dining, and entertainment on University Ave. The property includes ample parking and a generous greenspace with a patio, enhancing tenant appeal. RUBS (Ratio Utility Billing System) is being implemented for utilities, offering increased revenue potential. Tenants already cover electric bills, and water billing is in place, with heat implementation underway. Recent renovations have driven rent increases, with most units on Month-to-Month leases, providing flexibility for a new owner to optimize financial performance. The property maintains high occupancy, with just one unit currently vacant due to renovations. Its strong rental history highlights tenant satisfaction and demand. This income-generating property combines steady cash flow, value appreciation potential, and adaptability to market changes, making it an excellent addition to any portfolio. Don’t miss this opportunity to own a high-performing asset in the dynamic Des Moines real estate market.
Property Details
Home Type
- Apartment
Est. Annual Taxes
- $12,680
Year Built
- Built in 1971
Lot Details
- 0.47
Parking
- Driveway
Home Design
- 5,686 Sq Ft Home
- Block Foundation
- Slab Foundation
- Asphalt Shingled Roof
Additional Features
- 8 Kitchens
- 8 Full Bathrooms
- Laundry Room
- 20,628 Sq Ft Lot
- Hot Water Heating System
Listing and Financial Details
- Assessor Parcel Number 05003242001000
Community Details
Overview
- No Home Owners Association
- 8 Units
Building Details
- Operating Expense $29,359
- Gross Income $77,766
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Home Values in the Area
Average Home Value in this Area
Purchase History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| -- | None Listed On Document | ||
| $625,000 | None Listed On Document | ||
| $506,000 | None Available | ||
| $420,000 | None Available | ||
| $324,500 | Itc | ||
| $160,000 | -- | ||
| $326,500 | -- | ||
| -- | -- |
Source: Public Records
Mortgage History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Closed | $485,000 | ||
| Closed | $354,200 | ||
| Closed | $702,000 | ||
| Closed | $702,000 | ||
| Closed | $60,000 | ||
| Closed | $336,000 | ||
| Closed | $410,000 | ||
| Closed | $375,000 | ||
| Closed | $90,000 | ||
| Closed | $221,000 | ||
| Closed | $96,700 | ||
| Closed | $240,000 | ||
| Closed | $218,000 |
Source: Public Records
Property History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 01/30/2025 01/30/25 | Sold | $625,000 | -2.3% | $110 / Sq Ft | |
| 12/19/2024 12/19/24 | Pending | -- | -- | -- | |
| 12/04/2024 12/04/24 | For Sale | $640,000 | +26.5% | $113 / Sq Ft | |
| 06/25/2021 06/25/21 | Sold | $506,000 | +4.3% | $89 / Sq Ft | View Prior Sale |
| 03/25/2021 03/25/21 | Pending | -- | -- | -- | |
| 03/23/2021 03/23/21 | For Sale | $485,000 | -- | $85 / Sq Ft |
Source: Des Moines Area Association of REALTORS®
Tax History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $13,024 | $715,000 | $47,500 | $667,500 |
| 2024 | $13,024 | $662,000 | $41,700 | $620,300 |
| 2023 | $12,680 | $662,000 | $41,700 | $620,300 |
| 2022 | $14,820 | $538,000 | $34,900 | $503,100 |
| 2021 | $11,004 | $538,000 | $34,900 | $503,100 |
| 2020 | $11,432 | $441,000 | $31,700 | $409,300 |
| 2019 | $9,836 | $441,000 | $31,700 | $409,300 |
| 2018 | $9,736 | $366,000 | $31,700 | $334,300 |
| 2017 | $8,938 | $366,000 | $31,700 | $334,300 |
| 2016 | $8,708 | $330,460 | $26,000 | $304,460 |
| 2015 | $8,708 | $330,460 | $26,000 | $304,460 |
| 2014 | $7,812 | $294,000 | $26,000 | $268,000 |
Source: Public Records
Agents Affiliated with this Home
-
Elizabeth Keller
-
Patrick Elbert
Buyer's Agent in 2025
Patrick Elbert
Realty ONE Group Impact
(515) 443-3335
1 in this area
134 Total Sales
-
Randy Rudolf
R
Seller's Agent in 2021
Randy Rudolf
Progressive Real Estate RN,LLC
(515) 370-2590
59 Total Sales
-
Liz Prue
Buyer's Agent in 2021
Liz Prue
RE/MAX
(515) 423-5607
102 Total Sales
Map
Source: Des Moines Area Association of REALTORS®
MLS Number: 708619
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.
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