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Nevada Living Apartments 1521 S G Ave 33 Unit Apartment Building $2,100,000 ($63,636/Unit) 7.05% Cap Rate Nevada, IA 50201
Investment Highlights
- Just south of Hwy 30
- Significant manufacturing presence in Nevada and Ames, which provides plenty of tenants
- 7 Miles from Ames
Executive Summary
Nevada Living Apartments presents a strong, turnkey investment opportunity in the heart of Nevada, IA. This fully stabilized, recently renovated 33-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.
This parcel is also large enough to accommodate further development.
Broker has a financial interest.
Data Room Click Here to Access
- Operating and Financials
Property Facts
| Price | $2,100,000 | Apartment Style | Low-Rise |
| Price Per Unit | $63,636 | Building Class | C |
| Sale Type | Investment | Lot Size | 2.05 AC |
| Cap Rate | 7.05% | Building Size | 16,594 SF |
| No. Units | 33 | Average Occupancy | 90% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1997 |
| Zoning | MR R3+ - Medium density residential | ||
| Price | $2,100,000 |
| Price Per Unit | $63,636 |
| Sale Type | Investment |
| Cap Rate | 7.05% |
| No. Units | 33 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 2.05 AC |
| Building Size | 16,594 SF |
| Average Occupancy | 90% |
| No. Stories | 2 |
| Year Built | 1997 |
| Zoning | MR R3+ - Medium density residential |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
- Carpet
Site Amenities
- 24 Hour Access
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 32 | - | 276 - 452 |
| 1+2 | 1 | - | 552 |
Property Taxes
| Parcel Number | 11-17-116-125 | Improvements Assessment | $1,134,200 |
| Land Assessment | $156,500 | Total Assessment | $1,290,700 |
Property Taxes
Parcel Number
11-17-116-125
Land Assessment
$156,500
Improvements Assessment
$1,134,200
Total Assessment
$1,290,700
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Nevada Living Apartments | 1521 S G Ave
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