3008 West Street Ames

$350,000

3008 West Street, Ames, IA 50014

For Sale

Unknown Listing Type

Active

Last Updated: 10/05/2022

Details:

Cap Rate: 8.22%

NOI: $28,786

Building Size: 3,090 sqft

Lot Area: 0.22 acres

Units: 10

Year Built: 1915

Floors: 2

Parking Spots: 10

Offered by

Chase Keller

Commercial Broker

Better Commercial

#344000905

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Description:

Location, location, location! So close to Iowa State University's campus. This unique property has lots of potential and opportunity. Newer carpet, paint, windows, mechanicals and more. Ample parking in the back of the property. This building place has 10 bedrooms, 3.5 bathrooms, 3 kitchens and 3 entrances. It can be leased by the room or could potentially be a triplex separated by levels. Coin-Op Laundry for all tenants. Owner pays all utilites. Property was most recently rented at $400/room. Comps in the ISU area are $400-600 depending on quality, size and amenities. Keeping conservative rents, Caprate is 8.25 with 15.5% ROI
Rare find so close to campus and at this price!

Blocks from ISU Campus
In a great residential area with a large student population

Caprate: 8.25%
ROI: 15.5%