Painted Woods Villas

JLL (“Jones Lang LaSalle”) is pleased to present Painted Woods, a brand new 94-unit Build-to-Rent community located in Waukee, a fast-developing western suburb of Des Moines, IA. The Property offers 94 spacious 3-bedroom luxury homes, featuring attached 2-car garages, representing the latest in build-to-rent developments built by the nation’s largest homebuilder. The property has experienced a rapid lease up with 5+ net leases over the last 9 months and is now 53% occupied and 60%+ leased as of 04/03/2025.

Situated in a prime location near I-235, Painted Woods offers residents convenient access to both Downtown Waukee and the broader Des Moines metropolitan area. Waukees' high quality of life, strong economy, and highly ranked schools, including those in the Community School District, attract well-educated professionals and affluent families. Since 2020, Waukee has experienced ~50% population growth and is continuing to grow. With strong household income and elevated home values in the surrounding area, this flagship community offers and compelling discount to home ownership, while maintaining significant future rent growth potential.  

Painted Woods offers investors an exceptional opportunity to acquire a new Build-to-Rent asset in one of Des Moines fastest growing suburbs. This unbeatable opportunity is available on a free and clear basis.

Local Iowa Market Contact:

Michael Minard

michael.minard@jll.com

563.508.4649

IA License #: S42639000