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WOODLAND PARK Apartments

168 Units | Built 1973

The Opportunity

Woodland Park is conveniently located with proximity to I-80/35 or I-235 in Des Moines, and a just few miles from Downtown, Merle Hay Mall, and Drake University. Built in 1973, the property has been well maintained over the years, and offers attractive amenities to tenants of all ages including a clubhouse, pool, fitness center, balconies, walk-in closets, detached garages, and individual heating/cooling in most units. The offering gives a buyer an opportunity to generate additional revenue in a short period of time by stabilizing operations, and completing upgrades to the common areas, amenities, and unit interiors.  

  • Ability to Acquire at Low Basis with Management and Value Add Upside
  • Free and Clear Financing 
  • Solid Amenities include Clubhouse, Pool, Fitness Center, Basketball Court, and Detached Garages
  • Within Minutes of Merle Hay Mall (one of the largest shopping malls in Des Moines), Downtown Des Moines, Drake University, and VA Central Iowa Hospital
  • Additional Land Included in Sale to Build More Units, Garages, or Amenities

Investment Highlights

  • 168 Units
  • Built: 1973
  • Average Market Rent: $748
  • Average Unit Size: 700 SF
  • Average Rent Per SF: $1.07
  • Revenue Upside Through Stabilizing Operations and Property Upgrades

THE PROPERTY

UNIT Amenities

  • Patio or Balcony
  • Central Heating and Cooling
  • Dishwasher
  • Freezer
  • Garbage Disposal
  • Microwave Oven
  • Refrigerator
  • Pantry
  • Vinyl Flooring
  • Linen Closet
  • Tub/Shower
  • Walk-In Closets
  • Yard

COMMUNITY Amenities

  • Clubhouse with Wifi
  • Swimming Pool
  • Basketball Court
  • Controlled Access
  • Dog Park
  • Barbecue Area with Grills
  • Courtyard
  • Garages
  • Picnic Area
  • Storage Space
  • Coffee Bar
  • Laundry Facility
  • Maintenance on site  

THE LOCATION

ECONOMIC SNAPSHOT

DOCUMENT CENTER

CONTACT US

Investment Advisors

PARKER STEWART

Director

parker.stewart@berkadia.com

312.845.3094

MICHAEL SULLIVAN

Senior Director

michael.sullivan@berkadia.com

816.759.0369

ALEX BLAGOJEVICH

Managing Director

alex.blagojevich@berkadia.com

312.845.3088

CHICAGO OFFICE

125 South Wacker Drive

Suite 400

Chicago, IL 60606

312.957.7391 | Fax: 312.957.7871

Berkadia.com

Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage loan brokerage business in Nevada.

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