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3500 Grand Ave 43 Unit Apartment Building $2,999,995 ($69,767/Unit) Ames, IA 50010
INVESTMENT HIGHLIGHTS
- Updated Exterior: Newer Siding and Roofs
- Easy access to Iowa State University Campus
- Close to shopping and restaurants
EXECUTIVE SUMMARY
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.
PROPERTY FACTS
| Price | $2,999,995 | Apartment Style | Low-Rise |
| Price Per Unit | $69,767 | Building Class | C |
| Sale Type | Investment | Lot Size | 2.11 AC |
| No. Units | 43 | Building Size | 25,414 SF |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1977 |
| Zoning | RH | ||
| Price | $2,999,995 |
| Price Per Unit | $69,767 |
| Sale Type | Investment |
| No. Units | 43 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 2.11 AC |
| Building Size | 25,414 SF |
| No. Stories | 2 |
| Year Built | 1977 |
| Zoning | RH |
AMENITIES
UNIT AMENITIES
- Balcony
- Cable Ready
- Dishwasher
- Heating
- Kitchen
- High Speed Internet Access
- Refrigerator
- Oven
- Range
- Patio
SITE AMENITIES
- Laundry Facilities
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 21 | - | 600 - 700 |
| 2+1 | 22 | - | 700 - 750 |
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PROPERTY TAXES
| Parcel Number | 05-26-300-040 | Improvements Assessment | $2,498,000 |
| Land Assessment | $645,000 | Total Assessment | $3,143,000 |
PROPERTY TAXES
Parcel Number
05-26-300-040
Land Assessment
$645,000
Improvements Assessment
$2,498,000
Total Assessment
$3,143,000
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