717 Franklin Ave Unit 11 Des Moines, IA 50314
River Bend NeighborhoodEstimated payment $26,982/month
About This Home
This portfolio includes 10 multifamily properties and 7 single-family homes. The multifamily portion features 44 total units spread across 10 buildings, all currently occupied on a month-to-month basis. These multifamily units generate an annual gross income of $386,940, with an annual net income of $233,689.The 7 single-family homes collectively produce a gross income of $100,200 and net $54,011 annually. The seller has not significantly increased rents in recent years and believes a new owner could realize additional profit through rent adjustments. More Info Here:
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $51,012
Year Built
- Built in 1901
Lot Details
- 0.3 Acre Lot
- Lot Dimensions are 100x132
Home Design
- 4,233 Sq Ft Home
Listing and Financial Details
- Assessor Parcel Number 08007891001000
Community Details
Overview
- No Home Owners Association
- 51 Units
Building Details
- Operating Expense $198,531
- Gross Income $487,140
Map
Home Values in the Area
Average Home Value in this Area
Tax History
| 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 |
|---|---|---|---|---|
| 2024 | $2,970 | $151,000 | $14,000 | $137,000 |
| 2023 | $2,898 | $151,000 | $14,000 | $137,000 |
| 2022 | $3,388 | $123,000 | $11,700 | $111,300 |
| 2021 | $3,016 | $123,000 | $11,700 | $111,300 |
| 2020 | $3,388 | $101,000 | $10,600 | $90,400 |
| 2019 | $2,956 | $101,000 | $10,600 | $90,400 |
| 2018 | $3,146 | $83,500 | $10,600 | $72,900 |
| 2017 | $2,958 | $83,500 | $10,600 | $72,900 |
| 2016 | $3,084 | $75,500 | $8,900 | $66,600 |
| 2015 | $3,084 | $75,500 | $8,900 | $66,600 |
| 2014 | $2,874 | $67,000 | $8,900 | $58,100 |
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 05/09/2025 05/09/25 | For Sale | $4,100,000 | -- | $969 / Sq Ft |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Quit Claim Deed | -- | None Available | |
| Warranty Deed | $115,000 | None Available | |
| Interfamily Deed Transfer | -- | None Available | |
| Warranty Deed | -- | -- | |
| Warranty Deed | $66,500 | -- | |
| Warranty Deed | $61,500 | -- | |
| Warranty Deed | $49,500 | -- |
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $200,000 | Unknown | |
| Closed | $75,000 | Unknown | |
| Previous Owner | $50,250 | Commercial | |
| Previous Owner | $55,800 | Commercial |
Source: Des Moines Area Association of REALTORS®
MLS Number: 717804
APN: 080-07891001000
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