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16300 Northpark Dr, Urbandale, IA 50263


4 Bedrooms / Multiple Family

For Sale: $90,600,000.00

Available

Contact Info

SVN RealStar Advisors
 (480) 797-9825

View On Property Owner's Website


This property is brought to you by:
Iowa Real Estate Investors Association




300 Home Build For Rent (BFR) Single Family Residential Investment Rental Subdivision in Urbandale, IA.


This Build For Rent (BFR) investment opportunity consists of 300 fee simple lots to be built as Single Family Residential Rental properties. The rental subdivision is located in Urbandale, Iowa, which is an expanding submarket in the West Des Moines region. These quality new build homes for rental investment features an opportunity for Buyer to work with Builder to determine the final floor plan mix to optimize your return and to select finish level selection of the investment portfolio. The insurance, financial industry and technology has fueled constant growth in the region for several decades creating increased household formation. Year over Year Median List Sale Price Increase +15.8%.

Build For Rent (BFR) properties offer almost no capital expenditures for several years after occupancy. The Developer/Builder here has over 30 years of National Home Building experience and is well known for quality & efficiency. Currently there are several dfferent floor plans being offered ranging in size from 1,580/sf - 2,136/sf (Design, size and number of homes is subject to change); rental rates range from $1,825 to $2,350 per month for these beautiful homes. Pre-lease the homes for closing at certificate of occupancy creating an immediate cash flow and return on your investment from day one!

Depending on floor plan mix, Year 1 Cap Rate (Pro Forma) 6.3%; 5 Year IRR 22.22%; Leveraged (70% LTV) Year 1 IRR 68.59%.

 

For more information about this subdivision, click HERE to download our brochure.



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