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823 Doran Dr - Doran Apartments 7 Unit Apartment Building Offered at $425,000 at a 8.91% Cap Rate Boone, IA 50036
Investment Highlights
- 1-Studio; 2-1BR/1BA; 4-2BR/1BA
- 35 Minutes North of Des Moines MSA
- 8.91% Cap Rate
Executive Summary
CBRE is pleased to offer the opportunity to acquire Doran Apartments, a 7-unit apartment community located in Boone, Iowa. Boone is located 15 minutes directly west of Ames, home of Iowa State University, and 35 minutes north of the Des Moines MSA.
Built in 1972, Doran Apartments features one studio, two 1BR/1BA, and four 2BR/1BA floor plans. The property also includes 4 detached garages and on-site surface parking.
Address: 823 Doran Drive, Boone, IA 50036
List Price: $425,000
Cap Rate: 8.91%
Number of Units: 7
??????????????Unit Mix: 1-Studio; 2-1BR/1BA; 4-2BR/1BA
Average In-Place Rents: $753
Year Built: 1972
Built in 1972, Doran Apartments features one studio, two 1BR/1BA, and four 2BR/1BA floor plans. The property also includes 4 detached garages and on-site surface parking.
Address: 823 Doran Drive, Boone, IA 50036
List Price: $425,000
Cap Rate: 8.91%
Number of Units: 7
??????????????Unit Mix: 1-Studio; 2-1BR/1BA; 4-2BR/1BA
Average In-Place Rents: $753
Year Built: 1972
Property Facts
| Price | $425,000 | Apartment Style | Garden |
| Price Per Unit | $60,714 | Building Size | 6,128 SF |
| Sale Type | Investment | Average Occupancy | 100% |
| Cap Rate | 8.91% | No. Stories | 3 |
| No. Units | 7 | Year Built | 1972 |
| Property Type | Multifamily | ||
| Zoning | INC | ||
| Price | $425,000 |
| Price Per Unit | $60,714 |
| Sale Type | Investment |
| Cap Rate | 8.91% |
| No. Units | 7 |
| Property Type | Multifamily |
| Apartment Style | Garden |
| Building Size | 6,128 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1972 |
| Zoning | INC |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 1 | - | - |
| 1+1 | 2 | - | - |
| 2+1 | 4 | - | - |
1 1
Fairly walkable
40/100
Exceptionally drivable
100/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 088426334282011 | Improvements Assessment | $62,680 |
| Land Assessment | $6,470 | Total Assessment | $69,150 |
Property Taxes
Parcel Number
088426334282011
Land Assessment
$6,470
Improvements Assessment
$62,680
Total Assessment
$69,150
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