1003 Parkway Drive Boone, IA 50036
24-unit apartment community in Boone, Iowa with value-add potential.
Type:Multifamily
Property size:
23,760 SF- Added:
- Mar 25, 2026
- Days on Market:
- 11
- Last Refresh:
- Mar 18 at 8:39 am
Property Features for 1003 Parkway Drive
General Information
- Standard status
- Active
- Size
- 23,760 SF
- Property subtype
- Multifamily
Listing agent David Eckley
Listing office
Listing date Mar 25, 2026
Source Cbre
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
All listing content including descriptions, pricing, images are the copyrighted material of David Eckley
Overview
Parkview Terrace Multifamily Investment Opportunity
Parkview Terrace is a 24-unit apartment community located in Boone, Iowa, constructed in 1968. The property consists of two buildings with a total building size of 23,760 square feet. The unit mix features all 2-bedroom, 1.5-bathroom floor plans. The property has been well maintained and presents a value-add opportunity through interior unit renovations. The property is 95.8% occupied with an average in-place rent of $808. Boone is located 15 minutes directly west of Ames, home of Iowa State University, and 35 minutes north of the Des Moines MSA. A nearby planned $676M Daisy Brands facility is upcoming.
Location Intelligence
Current Use by Public Records
Parkview Terrace Apartments
Apartment Complex
Location Insight
- Map
- Local Demand
- City
- Boone
- County
- Boone
- State
- Iowa
- Longitude
- -93.8810278
- Latitude
- 42.0451863
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - 24-unit apartment community in Boone, Iowa with value-add potential.
Where is this apartment building located?
The property is located at 1003 Parkway Drive Boone, IA.
What is the asking price?
The asking price for this property is $1,725,000.
What are key features of this property?
This property features: High Occupancy Rate: 95.8% occupancy indicates strong tenant demand and consistent rental income.; Attractive Cap Rate: An 8.11% cap rate suggests a potentially lucrative investment opportunity.; Value‑Add Potential: Opportunity for increased revenue through interior unit renovations.
