39-Unit Apartment
New
For Sale
$3,000,000
4733 Toronto Street, Ames, IA 50014
The property offers one- and three-bedroom layouts, with roof and select interior and mechanical upgrades completed.
Property SizeContact for details
Days on Market5
Property Features for 4733 Toronto Street
General Information
Standard status
Active
Property subtype
Multifamily
Occupancy
97%
Financials
Asking Price
$3,000,000
Cap Rate
8.11%
Average Monthly Rent
$857
Units
Unit Mix
9 x 1BR/1BA, 30 x 3BR/1.5BA
Multifamily Units
39
Additional Details
Highway Access
Yes
Building Details
Year Built
1985
Listed By:
Ray Hamilton
(515) 415-6111
Source:
Cbre
Added: Oct 2
Changed: Oct 6
Last Checked: Oct 5 at 4:33PM
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 Ray Hamilton
Investment Insights
Based on property information with market context.
Built in 1985, this 39-unit apartment property contains nine one-bedroom, one-bathroom homes and 30 three-bedroom, one-and-a-half-bathroom homes. Average unit size is 876 square feet. Improvements include a newer roof, flooring and lighting work in select apartments, and mechanical system replacements as needed. Occupancy is 97%, and the reported cap rate is 8.11%.
The property is on Toronto Street in Ames, near Iowa State University, whose enrollment exceeds 31,000, and Sawyer Elementary School. Ames is approximately 30 miles north of Des Moines, at the junction of Interstate 35 and Highway 30.
The property is on Toronto Street in Ames, near Iowa State University, whose enrollment exceeds 31,000, and Sawyer Elementary School. Ames is approximately 30 miles north of Des Moines, at the junction of Interstate 35 and Highway 30.
Key Highlights
- 39 apartments; 9 one‑bedroom/one‑bath units and 30 three‑bedroom/1.5‑bath units
- Average unit size: 876 SF
- Built in 1985
Property Analytics
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Current Use
Lease Details
39
Residential units
97%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
62
Businesses Nearby
Explore this area
Business Placement
Demographics for 50014, IA
31,587
Population
14,860
Households
2.1
Avg Household Size
26
Median Age
69%
College-Educated
98%
High-School Grad
54.2 sq mi
ZIP Area
583
Density / Sq Mi
$57,372
Median Household Income
$20,952
Median Earnings
$1,083
Median Rent
$312,700
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Apartment building - The property offers one- and three-bedroom layouts, with roof and select interior and mechanical upgrades completed.
Where is this apartment building located?
The property is located at 4733 Toronto Street Ames, IA.
What is the asking price?
The asking price for this property is $3,000,000.
What are key features of this property?
This property features: 39 apartments; 9 one‑bedroom/one‑bath units and 30 three‑bedroom/1.5‑bath units; Average unit size: 876 SF; Built in 1985
