Wakonda Village and Manor Apartments is a well-located apartment community in Des Moines and sits directly across Watrous Avenue from Wakonda Club, one of the premier country clubs in town. The property is a quick 10-minute drive from downtown, and just two miles from the Des Moines Airport. The asset is 382 total units, comprised of 272 market rate units (Wakonda Village), and 110 affordable units under a Section 8 Senior HAP contract (Wakonda Manor). The HAP units have maintained a very strong and consistent historical occupancy, and currently have a waiting list.
Over the last several years, 60% of the market rate units have had kitchen cabinets replaced, along with upgraded countertops. These units are achieving significant monthly rent premiums that are reflected in the current rent roll, leaving a buyer the ability to bring the remaining 113 units to the “fully upgraded” standard and increase rents to current premium levels.
125 South Wacker Drive
Chicago, IL 60606
312.957.7391 | Fax: 312.957.7871
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