1940 Arlington Avenue, Des Moines, IA 50314

• 10 beds |
• 9 baths |
• 4,858 sqft

Property Description

Built for cash flow and positioned for long-term upside, this 9-unit apartment building in Des Moines’ historic River Bend neighborhood offers an attractive opportunity for investors seeking immediate income. The property features eight 1-bedroom units and one 2-bedroom unit and is currently fully rented aside from one unit, providing strong in-place occupancy with an opportunity to lease the remaining space. Current performance exceeds the 1% rule, making this a compelling addition to an investment portfolio. Residents enjoy a beautiful courtyard and outdoor common area, while newer concrete work at the entrance adds to the property’s curb appeal and functionality. A 2-car garage and additional basement storage provide further value and operational flexibility. Conveniently located near downtown Des Moines, employment centers, transit, and neighborhood amenities, 1940 Arlington Avenue combines dependable rental income, desirable unit mix, and future potential in an established urban neighborhood.

Listing Status:

Active

Date Added:

July 11, 2026

Data Last Updated:

July 26, 2026 at 7:19AM

Listing Office:

Keller Williams Legacy Group : (319) 423-4139

Listing Agent:

Ryan Rohlf : (515) 442-0625

MLS ID:

744968

Interior

• Basement: Unfinished
• Flooring: CarpetVinyl
• A/C: Window Unit(s)
• Heating: Hot WaterNatural Gas

Exterior

• Style: Two Story
• Parking: DetachedGarageTwo Car Garage

Construction

• Roofing: AsphaltShingle
• General: 2Block

Location

• Road/Access: Concrete
• Originating MLS: DMAAR_DM
• School District: Des Moines Independent
• County: Polk

Lot

• Zoning: ResW 40F LOT 1 ARLINGTON PLACE; AND LOT 3 JACKSONS SUB DIV03549001000

Utilities

• Utilities: Electricity AvailableNatural Gas AvailableWater Available
• Water: Public
• Sewer: Public Sewer

Financial

• Source: DMAAR_DM