Iowa commercial & Residential Real Estate Transactions: August 2024 Update
Recent weeks have seen a robust level of activity in the Iowa real estate market, encompassing both commercial and residential properties across several counties. Here’s a detailed look at notable transactions recorded in early August, offering insights into current trends and investment activity.
Polk County Transactions
Several significant deals closed in Polk County, demonstrating continued demand for both apartment complexes and high-end single-family homes.
A portfolio of three, three-story buildings totaling 132 units at 619 17th Ave. N.W.changed hands for $12.2 million. These apartments, part of the Oakland Pointe complex and originally developed in 1996, represent a substantial investment in the Des Moines rental market.
Fairmeadows Village Group LLC acquired a 101-unit apartment building at 2625 Vine St. in West Des Moines for $10.2 million. the 7-acre parcel, valued at $10 million, features a building constructed in 1994.
A stunning Victorian-style home at 2846 Forest Drive in Des Moines sold for $1.6 million. The two-story residence, built in 1884 and recently remodeled in 2024, boasts 6,463 square feet of living space, including a finished attic.
Dallas County Developments
Dallas County continues to experience growth, especially in the areas of Van Meter and Waukee.
Van Meter Property LLC invested $2.7 million in five two-story, bi-attached townhome properties located in the 2900 block of Long Avenue. These newly constructed townhomes, completed in 2023, reflect the increasing demand for modern housing options in the area.
Ryan and Wendy Vorachek purchased a 20-acre parcel with a 1,935-square-foot home at 36405 Osage Ave. in Van Meter for $1.1 million. This transaction highlights the appeal of rural living with convenient access to amenities.
Dmitriy and Tetyana Komm acquired a property at 35076 Burgundy Circle in Waukee for $1.15 million. The 1.38-acre parcel includes a 2,748-square-foot house originally built in 1992.
Urbandale Residential Sale
Urbandale also saw a noteworthy residential transaction.
* Kevin and Tamara Blackburn purchased a recently built home at 5309 175th St. for just over $1 million. The 2,142-square-foot property, sold by Claman Construction Inc., represents a growing trend of new construction in the area.
Understanding the Market
These transactions collectively illustrate a dynamic Iowa real estate landscape. You’ll notice a consistent demand for multi-family housing, particularly apartment complexes, alongside strong interest in both established and newly constructed single-family homes. As your trusted real estate advisor, I can help you navigate these trends and identify opportunities that align with your investment goals.
If you are considering buying or selling property in Iowa, remember that understanding local market conditions is crucial. Don’t hesitate to reach out for a personalized consultation – I’m here to provide expert guidance every step of the way.
