Iowa Apartment Association
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16300 Northpark Dr, Urbandale, IA 50263

Multiple Family / 4 Bedroom(s)

Property Status:  Not Available | $90,600,000.00 | 


Property Photos


300 Home Build For Rent (BFR) Single Family Residential Investment Rental Subdivision in Urbandale, IA.


Property Status:
Not Available | $90,600,000.00
Property Details:
Multiple Family / 4 BR
Property Style:
5+ Units
Year Built:
2018
Finished Sq Ft:
566,250
Garage:
2 Car Attached
Basement:
Unfinished Basement
Owner / Agent:
Real Estate Agent
Property Features:
No Property Features Listed.
Contact Info
SVN RealStar Advisors / Hunziker & Associates
(480) 797-9825

View on Individual's Website
Property Description:

This Build For Rent (BFR) investment opportunity consists of 300 fee simple lots to be built as Single Family Residential Rental properties. The rental subdivision is located in Urbandale, Iowa, which is an expanding submarket in the West Des Moines region. These quality new build homes for rental investment features an opportunity for Buyer to work with Builder to determine the final floor plan mix to optimize your return and to select finish level selection of the investment portfolio. The insurance, financial industry and technology has fueled constant growth in the region for several decades creating increased household formation. Year over Year Median List Sale Price Increase +15.8%.

Build For Rent (BFR) properties offer almost no capital expenditures for several years after occupancy. The Developer/Builder here has over 30 years of National Home Building experience and is well known for quality & efficiency. Currently there are several dfferent floor plans being offered ranging in size from 1,580/sf - 2,136/sf (Design, size and number of homes is subject to change); rental rates range from $1,825 to $2,350 per month for these beautiful homes. Pre-lease the homes for closing at certificate of occupancy creating an immediate cash flow and return on your investment from day one!

Depending on floor plan mix, Year 1 Cap Rate (Pro Forma) 6.3%; 5 Year IRR 22.22%; Leveraged (70% LTV) Year 1 IRR 68.59%.

 

For more information about this subdivision, click HERE to download our brochure.



Legal Disclaimer:
Iowa Apartment Association is not responsible for the properties or the information listed here. Each Property is independently owned.  Click on the link above to contact the Property Owner about this property.

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Iowa Apartment Association

1819 Beaver Ave Unit 30146
Des Moines, IA 50310-3815
(515) 274-0300

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