Boone Iowa Apartment
For Sale
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1104 8th St, Boone, IA 50036
57-unit apartment community in Boone, Iowa, near Iowa State.
Property Size42,122 SF
Price / SF$85.35
Days on Market162
Property Features for 1104 8th St
General Information
Standard status
Active
Size
42,122 SF
Property subtype
Multifamily
Building Details
Year Built
1977
Buildings
1
Stories
4
Units
57
Listing Agency:
CBRE - Des Moines
(515) 314-1715
Listed By:
David Eckley · License #IA S65549000
Source:
Crexi
Added: Mar 5
Changed: Aug 8
Last Checked: Aug 13 at 3:38PM
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 CBRE - Des Moines
Investment Insights
Based on property information with market context.
The Briza Apartments, located in Boone, Iowa, offers a 57-unit apartment community. Boone is situated 15 minutes west of Ames, home to Iowa State University, and 35 minutes north of the Des Moines MSA. Constructed in 1977, The Briza Apartments consists exclusively of one-bedroom, one-bathroom floor plans. The property has been maintained and offers opportunities for value enhancement through interior unit renovations and common area improvements. Twenty of the 57 units have been renovated with new LVP flooring, paint, and updated cabinetry and appliances as needed. Additionally, washer and dryer units have been installed in 4 units. The Briza Apartments provides investors the chance to acquire an asset in a stable central Iowa market. The total building size is 42,122 square feet.
Key Highlights
- High Cap Rate of 8.22%
- Value‑add opportunity through continued interior unit renovations and common area enhancements.
- 20 out of 57 units have been renovated with new LVP flooring, paint, cabinetry, and appliances.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
693
Businesses Nearby
Explore this area
Business Placement
Demographics for 50036, IA
16,203
Population
7,416
Households
2.2
Avg Household Size
43
Median Age
28%
College-Educated
96%
High-School Grad
191.7 sq mi
ZIP Area
85
Density / Sq Mi
$74,107
Median Household Income
$42,453
Median Earnings
$804
Median Rent
$172,900
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - 57-unit apartment community in Boone, Iowa, near Iowa State.
Where is this apartment building located?
The property is located at 1104 8th St Boone, IA.
What is the asking price?
The asking price for this property is $3,595,000.
What are key features of this property?
This property features: High Cap Rate of 8.22%; Value‑add opportunity through continued interior unit renovations and common area enhancements.; 20 out of 57 units have been renovated with new LVP flooring, paint, cabinetry, and appliances.
