3500 Grand Ave - Apartments FOR SALE


Ames, IA 50010- North Ames
$3,295,000 USD
3500 Grand Ave, Ames, IA for Sale
$3,295,000 USD
Apartments - FOR SALE
1/15
null | Request Cap Rate

3500 Grand Ave
Ames, IA 50010
North Ames


HIGHLIGHTS

  • Updated Exterior: Newer Siding and Roofs
  • Close to shopping and restaurants
  • Easy access to Iowa State University Campus

OVERVIEW

Incredible investment opportunity in Ames, Iowa, a thriving college town with strong rental demand and easy accessibility to the Iowa State University campus. This property includes 43 total units across two well-maintained buildings, offering a desirable mix of 22 two-bedroom units and 21 one-bedroom units. Each unit features a full bath along with a refrigerator, stove, and dishwasher. Residents also benefit from the convenience of two washers and two dryers per building. The property has seen significant capital improvements including: New roofs and siding, HVAC systems (many replaced within the last 10 years), water heaters (5–7 years old), most decks have been replaced, and updated flooring in many units. Located in close proximity to North Grand Mall, shopping, and restaurants.

FOR SALE DETAILS

PRICE

$3,295,000 USD

PRICE/SF

$130 USD /SF

# OF UNITS

43

PRICE/UNIT

$76,628

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1977

PARKING SPACES

-

LAND DETAILS

LAND ACRES

2.11 AC

LAND SF

91,724 SF

ZONING

RH

APN/PARCEL ID

05-26-300-040

ASK ABOUT THIS PROPERTY

Ethan HokelCentury 21 Signature Real EstateMore Info

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Ethan HokelCentury 21 Signature Real EstateMore Info

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