Quadplex with Fireplace
1307 Florida Avenue Ames, IA 50014
1307 Florida Avenue, Ames, IA, 50014
$525,000
For Sale
$525,000
MULTI_FAMILY - Ames, IA
Property Size4,026 SF
Lot Size0.30 Acres
Price / SF$130.40
Days on Market131
Property Features for 1307 Florida Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Quadruplex
- Zoning
- RH
- Exterior features
- Brick
- Standard status
- Active
- Size
- 4,026 SF
- Lot size
- 0.30 Acres
Taxes and HOA fees
- Tax Description
- ONTARIO O T LOTS 4 & 5 10'MADJ ON E BLK
- Tax Annual Amount
- 5692
Utilities
- Sewer type
- Public Sewer
- Heating system
- Natural Gas, Hot Water(Heating)
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Year built
- 1977
- Floors in Building
- 2
- Number of units
- 4
- Flooring type
- Tile, Carpet
Listing Agency
RE/MAX REAL ESTATE CENTER
2324663
1606 SO. DUFF, AMES, IA
Listed by
Bock Real Estate Group
2324663
Added: Mar 10 Checked: Jul 18 at 10:06 am
MLS# 69588
Listing URL
Copyright © 2026 Central Iowa Board of Realtors, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This four-unit quadplex offers spacious residential units with fireplaces. Public remarks describe large living spaces with big kitchen workspaces and bedrooms, creating a functional layout for everyday living.
Located at 1307 Florida Avenue in Ames, Iowa, the property sits on a 0.3-acre lot in Story County. The listing is zoned RH.
The building totals 4,026 square feet, providing room for four separate units within the quadplex configuration.
Located at 1307 Florida Avenue in Ames, Iowa, the property sits on a 0.3-acre lot in Story County. The listing is zoned RH.
The building totals 4,026 square feet, providing room for four separate units within the quadplex configuration.
Key Highlights
- 4‑plex built in 1977
- Brick exterior with tile and carpet flooring
- Central air conditioning and natural gas hot water heating
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $46.4k | $11.52 |
| − Vacancy | −$2.3k | −$0.58 |
| EGI | $44.0k | $10.94 |
| − OpEx | −$13.2k | −$3.28 |
| NOI | $30.8k | $7.66 |
4,026 SF · lease $11.52/SF/yr · vacancy 5.03% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$440.5K
$385.4K – $513.9K
NOI $30,833 @ 7.0% cap · market cap 5.87%
Second Best
Apartment 5plus
$384.6K
$336.6K – $448.8K
NOI $26,925 @ 7.0% cap · market cap 5.13%
Theoretical Best
Office A
$940.8K
$823.2K – $1.10M
NOI $65,859 @ 7.0% cap · market cap 12.54%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Quadplexes
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FAQs
What type of property is this?
Quadplex - Four-unit residential income property featuring spacious units with fireplaces and large kitchen workspaces.
Where is this quadplex located?
The property is located at 1307 Florida Avenue Ames, IA.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: 4‑plex built in 1977; Brick exterior with tile and carpet flooring; Central air conditioning and natural gas hot water heating
