IA
Des Moines
West Burlington
52655
500 Layne Drive
500 Layne Drive, West Burlington, IA 52655
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Listing Type
Commercial/Industrial
Listing Status
pending
33
$9,000,000

Home Details for 500 Layne Drive

Price
$9,000,000
Type
Commercial Sale
Bedrooms
0
Bathrooms
Square feet
NaN
Year built
2024
County
Des Moines
Garage
8
Days on site
0
MLS Listing#
6333564
Property Description

Now available is a newly constructed Class A multifamily property completed in 2024, featuring 52 high-quality residential units in a strong Southeast Iowa location. This turnkey asset offers a balanced unit mix consisting of (8) three-bedroom, 2.5-bath units, (24) two-bedroom, one-bath units, and (20) one-bedroom, one-bath units. Each apartment is outfitted with premium finishes including soft-close cabinetry, luxury vinyl plank flooring, energy-efficient Pella windows, and individual HVAC, plumbing, and electrical systems. The property is thoughtfully designed with community in mind, offering amenities such as a dog park, playground, and ample green space. Tenants enjoy the convenience of in-unit laundry, while ownership benefits from separate utility metering—residents are responsible for electric, gas, and internet—helping to reduce overhead and increase NOI. Strategically located near Southeast Iowa Regional Hospital and major retail corridors, the property is well-positioned to attract strong tenant demand. Current market rents are set at $1,900 for three-bedroom units, $1,275 for two-bedroom units, and $975 for one-bedroom units, reflecting strong income potential in a low-vacancy submarket. This is a rare opportunity to acquire a newly built, low-maintenance multifamily asset with modern systems, durable construction, and a 5 YEAR TAX ABATEMENT. Seller is licensed to sell real estate in the State of Iowa.

Property Features
  • Heating Information
    • Hot Water
    • Forced Air
  • Parking
    • Attached
    • Paved
  • Water Features
    • Public
  • Utilities
    • Electricity Connected
  • Garage
    • 1
Listing Courtesy: Midwest Realty - 319-237-1139
Presented by: John E Mercer IV
The information being provided is for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Listing information provided courtesy of the Heart of Iowa MLS.
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Neighborhood Market Statistics
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Median Listing Price
Median Days on Site
Median Square Feet
Market statistics compiled from data from Heart of Iowa MLS.
EXIT REALTY FRONTIER
321 Central Ave, Fort Dodge, IA 50501
Emily Melody
License #: B68502000
Sales Representative
Office
515 570 1100
Agent
712 210 6449
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