Tripp Street Duplex Properties 4 Multifamily Properties Offered at $247,500 in Ames, IA

This portfolio presents an attractive opportunity for investors seeking stable income in a high-demand rental market. Comprising four duplexes located along Tripp Street in Ames, Iowa, the assets back directly to Franklin Park and are within walking distance of Iowa State University. The properties benefit from consistent occupancy driven by proximity to major campus amenities, retail centers, and employment hubs.
All units have been owner-managed since 2016 with significant upgrades completed over the years, including new flooring, trim, doors, and mechanical systems, enhancing property durability and tenant satisfaction. Full unfinished basements provide dedicated storage and present a value-add opportunity through potential unit expansion for higher rental income.
Each duplex holds a current City of Ames Letter of Compliance, ensuring compliance with local occupancy ordinances. Leases are fully secured through July 2027, offering immediate, predictable cash flow for new ownership. In addition, the expansive lots allow for potential future garage construction, creating additional income streams. This portfolio will be sold as a single package and will not be subdivided.