Seven-Unit Apartment Community with
For Sale
$425,000
823 Doran Drive, Boone, IA 50036
Small multifamily in Boone offers studio and 1–2 bedroom units plus detached garages and surface parking.
Property SizeContact for details
Days on Market57
Property Features for 823 Doran Drive
General Information
Standard status
Active
Property subtype
Multifamily
Additional Details
Cap Rate
8.91%
Multifamily Units
7
Building Details
Year Built
1972
Listing Agency:
CBRE - Des Moines
(515) 314-1715
Listed By:
David Eckley · License #S65549000
(515) 314-1715
Source:
Cbre
Added: Jun 17
Changed: Aug 10
Last Checked: Aug 11 at 1:50PM
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.
Doran Apartments is a 7-unit apartment community built in 1972, offering a mix of one studio, two 1BR/1BA, and four 2BR/1BA floor plans. The property includes 4 detached garages and on-site surface parking, supporting convenient vehicle storage for residents.
The community is located at 823 Doran Drive in Boone, Iowa. Boone is described as approximately 15 minutes west of Ames and about 35 minutes north of the Des Moines MSA.
As a compact residential income property, Doran Apartments provides a straightforward unit mix that can appeal to tenants seeking studios as well as larger 1- and 2-bedroom layouts. For investors or owner-operators looking for a small multifamily asset with both detached garage parking and surface parking on-site, the property’s overall configuration and resident-oriented improvements may be an efficient platform to manage and lease.
The community is located at 823 Doran Drive in Boone, Iowa. Boone is described as approximately 15 minutes west of Ames and about 35 minutes north of the Des Moines MSA.
As a compact residential income property, Doran Apartments provides a straightforward unit mix that can appeal to tenants seeking studios as well as larger 1- and 2-bedroom layouts. For investors or owner-operators looking for a small multifamily asset with both detached garage parking and surface parking on-site, the property’s overall configuration and resident-oriented improvements may be an efficient platform to manage and lease.
Key Highlights
- 7‑unit apartment community at 823 Doran Drive, Boone, IA 50036
- Unit mix includes 1 studio, 2 one‑bedrooms (1BA), and 4 two‑bedrooms (1BA)
- Built in 1972 and currently features an average in‑place rent of $753
Property Analytics
Property Profile
Current Use
Lease Details
7
Residential units
Location Intelligence
Trade Area within ½ mile
235
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
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Frequently Asked Questions
What type of property is this?
Apartment building - Small multifamily in Boone offers studio and 1–2 bedroom units plus detached garages and surface parking.
Where is this apartment building located?
The property is located at 823 Doran Drive Boone, IA.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: 7‑unit apartment community at 823 Doran Drive, Boone, IA 50036; Unit mix includes 1 studio, 2 one‑bedrooms (1BA), and 4 two‑bedrooms (1BA); Built in 1972 and currently features an average in‑place rent of $753
