Ames Iowa Student Housing
626 South 16th Street Ames, IA 50010
626 South 16th Street, Ames, IA, 50010
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For Sale
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47-unit multifamily portfolio near Iowa State University for sale.
Property Size31,307 SF
Price / SF$137.35
Days on Market59
Property Features for 626 South 16th Street
General Information
- Standard status
- Active
- Size
- 31,307 SF
- Property subtype
- Multifamily
Listing Agency
CBRE - Des Moines
Listed by
Max Colby · License #IA S61308000
Source
Crexi
Added: May 20 Checked: Jul 17 at 5:06 am
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.
This offering consists of a 47-unit, three-property student housing portfolio in Ames, Iowa, the location of Iowa State University. The diversified multifamily portfolio includes three income-producing assets: 626 S 16th Street, 212 Hayward Avenue, and 519 Welch Avenue. The properties are strategically located near Iowa State University, major employment centers, retail areas, and transit corridors. The location benefits from consistently strong rental demand due to a stable base of student and professional tenants. The portfolio offers immediate cash flow, operational scale, and long-term appreciation potential in a steadily growing rental market. The total property size is 31307 square feet.
Key Highlights
- 47‑unit student housing portfolio near Iowa State University.
- Three well‑located income‑producing properties in Ames, Iowa.
- Strategically positioned near Iowa State University, employment, retail, and transit.
Local Financial Insights For Apartment 5plus
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 | $402.0k | $12.84 |
| − Vacancy | −$21.3k | −$0.68 |
| EGI | $380.7k | $12.16 |
| − OpEx | −$171.3k | −$5.47 |
| NOI | $209.4k | $6.69 |
31,307 SF · lease $12.84/SF/yr · vacancy 5.30% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$2.99M
$2.62M – $3.49M
NOI $209,372 @ 7.0% cap · market cap 4.87%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$7.32M
$6.40M – $8.54M
NOI $512,132 @ 7.0% cap · market cap 11.91%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Roofing Innovations
General Contractor
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FAQs
What type of property is this?
Apartment building - 47-unit multifamily portfolio near Iowa State University for sale.
Where is this apartment building located?
The property is located at 626 South 16th Street Ames, IA.
What is the asking price?
The asking price for this property is $4,300,000.
What are key features of this property?
This property features: 47‑unit student housing portfolio near Iowa State University.; Three well‑located income‑producing properties in Ames, Iowa.; Strategically positioned near Iowa State University, employment, retail, and transit.
