- Boost Net Rental Income by $354,000+
- Offered with Attractive 3.69% In-Place Financing
- Strategic Location Near Demand Drivers with Highway Connectivity
- 2015 Construction | Premiere Product
- Strong Surrounding Demographics | High Growth and Stable Submarket
Boost Net Rental Income by $354,000+
By stabilizing operations and loss-to-lease recapture, as recent average rents obtained since May through present are $1,065(1BR), $1223(2BR), and $1415(3BR), Broadway Apartments offers the potential to generate an additional $272,000+ in net rental income over the T12 operations. Furthermore, an additional $72,000+ ($50/ month/unit) over in-place rents can be achieved by upgrading the in-unit appliances to a stainless steel appliance package.
Offered with Attractive 3.69% In-Place Financing
Broadway Apartments is offered with attractive, in-place financing. A long-term, 10-year Freddie Mac loan with a 3.69% fixed interest rate and a 30-year amortization schedule is available for new ownership to assume. A 22-month interest-only period remains, and the current balance is $10,125,000.
Strategic Location Near Demand Drivers with Highway Connectivity
Conveniently located near retail, restaurants, and shopping, Broadway Apartments offers tenants a variety of entertainment options right outside their doorstep. Adventureland Amusement Park, Prairie Meadows Racetrack, Casino & Hotel, and Outlets of Des Moines are within a couple of miles of the property. With proximity to I-80 and Hwy 6, Broadway Apartments offers easy access to major employers and everything that nearby downtown Des Moines has to offer.
