Stanbrough Realty is proud to offer The Bristol Square Apartments, a rare opportunity to acquire a well operated value-add asset with historically strong 95%+ occupancy over a 15+ year hold period by current ownership. Located 45 minutes from Downtown Des Moines in Newton, IA, Bristol Square Apartments offers investors the opportunity to acquire 56 well operated and maintained units following a 17-year ownership period. The property provides immediate cash flow with the ability to further grow NOI through strategic rent increases and unit renovations. Currently 100% occupied, the asset consists of 56 1BR/1BA units and features an exterior patio and grilling area, on-site library, and dedicated management office. Newton serves as a regional employment hub with a strong blue-collar workforce driven by manufacturing and logistics, supporting consistent and durable renter demand.
Cash flowing - Well Operated/Maintained
Value add opportunity - Over 70K in Pro forma NOI growth
Attractive Acquisition Basis - $53.5K/unit
Gross Monthly Rent - $33K + Utility Reimbursement
Average in place rent - $593
Market Rent - $715
100% Occupied
Management Office on site
24/7 Secured Access + Full Camera System
RUBS in place
New House Electric Panel
6 Sets of non income generating washer/dryer units