🎧 Broker Interview: Woodland Meadows Apartments — 49-Unit Multifamily, Des Moines, IA
Guest: Josh Kirby, Stanbrough Realty
Contact: 515-402-7941 | josh.kirby@stanbroughrealty.com
Josh Kirby joins The Deal Flow to discuss Woodland Meadows Apartments, a 49-unit value-add opportunity in Des Moines, Iowa. With half the units already renovated and $150,000 in on-site materials ready to complete another dozen, this property offers investors an attractive entry point under $60K per door in Iowa’s capital metro.
- 49 total units | 51% occupancy | 50% renovated
- Includes ~$150K in flooring, cabinets & appliances on site
- Guidance: mid-$2M range | Projected exit ≈ $3.3M @ 7.75% cap
- Boiler heat with RUBs in place | single parcel
- Located near Grand View University | strong workforce-housing demand
🎧 Listen on Spotify | 📬 Read on Substack | 🐦 Follow on X | 🌐 Visit Website
