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1003 Parkway Dr 24 Unit Apartment Building $2,407,962 CAD ($100,332 CAD/Unit) 8.09% Cap Rate Boone, IA 50036
INVESTMENT HIGHLIGHTS
- All 2BR/1.5BA
- Nearby planned $676M Daisy Brands facility
- 95.8% Occupied
EXECUTIVE SUMMARY
CBRE is pleased to offer the opportunity to acquire Parkview Terrace, a 24-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 1968, Parkview Terrace consists of two buildings featuring all 2-bedroom, 1.5-bathroom floor plans. The property has been well maintained and presents a compelling value-add opportunity through interior unit renovations.
Address: 1003 Parkway Dr, Boone, IA 50036
List Price: $1,725,000
Cap Rate: 8.09%
Number of Units: 24
Unit Mix: All 2BR/1.5BA
Occupancy: 95.8%
Total Building SF: 23,760
Avg. In Place Rent: $808
Please click here for more information: https://www.cbredealflow.com/buyer/agreement?pv=kZ70rEm4mXFO85ShMCF1eIgb9T_HS81VeRBWpnzV3FXQs5lC8yN-g5HKaX3E0o-X
Built in 1968, Parkview Terrace consists of two buildings featuring all 2-bedroom, 1.5-bathroom floor plans. The property has been well maintained and presents a compelling value-add opportunity through interior unit renovations.
Address: 1003 Parkway Dr, Boone, IA 50036
List Price: $1,725,000
Cap Rate: 8.09%
Number of Units: 24
Unit Mix: All 2BR/1.5BA
Occupancy: 95.8%
Total Building SF: 23,760
Avg. In Place Rent: $808
Please click here for more information: https://www.cbredealflow.com/buyer/agreement?pv=kZ70rEm4mXFO85ShMCF1eIgb9T_HS81VeRBWpnzV3FXQs5lC8yN-g5HKaX3E0o-X
PROPERTY FACTS
| Price | $2,407,962 CAD | Building Class | C |
| Price Per Unit | $100,332 CAD | Lot Size | 1.45 AC |
| Sale Type | Investment | Building Size | 23,760 SF |
| Cap Rate | 8.09% | Average Occupancy | 96% |
| No. Units | 24 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1968 |
| Property Subtype | Apartment | Parking Ratio | 1.56/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | R | ||
| Price | $2,407,962 CAD |
| Price Per Unit | $100,332 CAD |
| Sale Type | Investment |
| Cap Rate | 8.09% |
| No. Units | 24 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 1.45 AC |
| Building Size | 23,760 SF |
| Average Occupancy | 96% |
| No. Stories | 2 |
| Year Built | 1968 |
| Parking Ratio | 1.56/1,000 SF |
| Zoning | R |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Kitchen
- Range
- Tub/Shower
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Walk-Up
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+2 | 24 | - | 950 |
1 1
PROPERTY TAXES
| Parcel Number | 088426331382046 | Improvements Assessment | $2,053,924 CAD |
| Land Assessment | $323,620 CAD | Total Assessment | $2,377,544 CAD |
PROPERTY TAXES
Parcel Number
088426331382046
Land Assessment
$323,620 CAD
Improvements Assessment
$2,053,924 CAD
Total Assessment
$2,377,544 CAD
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1003 Parkway Dr
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