Des Moines 3-Unit | $15K Proposed Down | Seller Financing

About this property

I'm selling a 3-unit at 686 34th Street for $310,000 with $15,000 proposed down and seller financing. The proposed financed balance is $295,000. Estimated principal and interest is $2,426.89/month at 9.25% with 30-year amortization. Two apartments already produce scheduled rent: - Upstairs 1-bedroom: $1,160/month including charges, month-to-month - Studio: $855/month including charges, leased through September 30, 2026 - Current scheduled collections: $2,015/month The larger owner unit is furnished and has one bedroom plus a nonconforming second bedroom/office/bonus room. Live in that unit and rent the other two, or evaluate renting all three. Estimated long-term rent for the furnished unit is $1,200/month. If all three units are rented long-term, potential gross scheduled collections are $3,215/month, or $38,580/year, before vacancy and expenses. The property is about 1,993 square feet with three separate units, updated kitchens and bathrooms, laundry, off-street parking and private deck access. The furnished unit includes the main furniture and appliances shown in the photos; the final included inventory will be confirmed in writing. It's near Ingersoll Avenue, dining, shopping and downtown Des Moines. The property is in the North of Grand/Woodland Heights Special Investment District. Invest DSM's Rental Rehab Program may cover up to 30% of qualifying improvement costs for eligible properties with 10 or fewer units. Participation, funding, project eligibility and affordability requirements are subject to Invest DSM approval; no award is guaranteed. Taxes, insurance, utilities, closing costs and other charges are additional. Buyer qualification, any maturity or balloon provisions, final documentation and required lender approval apply. Closing is available October 1, 2026, or earlier. Contact me directly for the full buyer packet, rent roll, financing details, or a showing.

Listed by Niran Avni