1521 S G Ave - Apartments FOR SALE


Nevada, IA 50201
$2,100,000 USD
515-554-4543
1521 S G Ave, Nevada, IA for Sale
$2,100,000 USD
Apartments - FOR SALE
1/11
null | 7.85% Cap Rate

1521 S G Ave
Nevada, IA 50201


HIGHLIGHTS

  • Just south of Hwy 30
  • 7 Miles from Ames
  • Significant manufacturing presence in Nevada and Ames, which provides plenty of tenants

OVERVIEW

Nevada Living Apartments presents a strong, turnkey investment opportunity in the heart of Nevada, IA. This fully stabilized, recently renovated 32-unit complex features efficient studio apartments, each with its own, newly renovated, kitchen. An on-site laundry room with coin-operated machines provides additional revenue, while a spacious 2-bedroom manager’s apartment allows for convenient, built-in oversight or added rental income. A utility monitoring system has also been installed to maximize cost efficiency. With modern updates, reliable occupancy, and multiple income streams, this property offers long-term stability in a growing community. This parcel is also large enough to accommodate further development. Broker has a financial interest.

FOR SALE DETAILS

PRICE

$2,100,000 USD

PRICE/SF

$127 USD /SF

# OF UNITS

32

PRICE/UNIT

$65,625

CAP RATE

7.85%

% LEASED

90%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Nevada Living Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1997

PARKING SPACES

-

LAND DETAILS

LAND ACRES

2.05 AC

LAND SF

89,298 SF

ZONING

MR R3+

APN/PARCEL ID

11-17-116-125

ASK ABOUT THIS PROPERTY

Ryan WiedersteinWB Realty CoMore Info
515-554-4543

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Ryan WiedersteinWB Realty CoMore Info
515-554-4543

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.