2936 E Walnut Street, Des Moines, IA 50317

Local realty services provided by:Better Homes and Gardens Real Estate Innovations
2936 E Walnut Street,Des Moines, IA 50317
$225,000
  • - Beds
  • - Baths
  • 2,224 sq. ft.
  • Multi-family
  • Pending
Listed by: escher, jake, schorn-pedro, jayce
Office: re/max real estate center
MLS#:729659
Source:IA_DMAAR

Price summary

  • Price:$225,000
  • Price per sq. ft.:$101.17

About this home

Here’s a great opportunity to own a 5-unit property just steps from the Iowa State Fairgrounds — a setup that doesn’t come along often. You’ll find a 4-plex plus a detached single-family home on one lot, giving you multiple income streams and plenty of flexibility. The property currently brings in $3,750/month in rent (units at $650, $650, $650, $850, and $950). The two upstairs units are long-term tenants, while the others offer room for rent increases or improvements over time. The landlord currently pays all utilities, providing a value-add opportunity for a new owner to transition to tenant-paid utilities and boost cash flow. There’s also tons of off-street parking, including extra income during the State Fair when parking demand goes up. If you’ve been looking for an affordable multifamily property with strong numbers and even stronger potential, this is it.

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Home facts

  • Year built:1924
  • Listing ID #:729659
  • Added:100 day(s) ago
  • Updated:February 10, 2026 at 08:36 AM

Rooms and interior

  • Living area:2,224 sq. ft.

Heating and cooling

  • Cooling:Window Units
  • Heating:Forced Air, Gas, Natural Gas

Structure and exterior

  • Roof:Asphalt, Shingle
  • Year built:1924
  • Building area:2,224 sq. ft.
  • Lot area:0.27 Acres

Utilities

  • Water:Public, Water Available
  • Sewer:Public Sewer

Finances and disclosures

  • Price:$225,000
  • Price per sq. ft.:$101.17
  • Tax amount:$5,662 (2024)

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