Story County, IA Multifamily Properties for Sale

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Updated: Jul 13

Three-Level Tri-Plex Rental Property

215 Cedar Street, Story City, IA 50248

$185,000

1,552 sqft 0.26 AC lot

3‑level tri‑plex with three separate units: 2BR/1.5BA basement, 2BR/1BA main level, and 1BR/1BA upper level
Year built 1910
Tenants pay all utilities except water
Heating: forced air; cooling: central air
Water source: public; sewer: public sewer

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215 Cedar Street, Story City, IA 50248

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Est. Cap Rate

6.4%
Above avg (5.9%)
Est. NOI

$12K
Annual
Price @ 7% Cap

$170K
Suggested
Property Type

Triplex
Built 1910

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Updated: Mar 10

Fourplex Residential Income Property

1307 Florida Avenue, Ames, IA 50014

$510,000

4,026 sqft 0.30 AC lot

4‑plex with brick exterior
Units feature 2 fireplaces and large kitchen workspaces
Central air cooling and natural gas hot water heating
Carpet and tile flooring
Built in 1977

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Four-Unit Property with Garages

913 Garfield Avenue, Ames, IA 50014

$500,000

3,596 sqft 0.47 AC lot

Two adjoining duplex buildings offer managed rental housing with private garages, laundry, and a mix of outdoor living areas.

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Apartment Building with Renovated Kitchens

1521 S G Ave, Nevada, IA 50201

$2,100,000

16,594 sqft

Property includes renovated studio kitchens, coin-operated laundry, and a two-bedroom manager’s apartment.

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Ranch Duplex Portfolio

106 E Walnut Street, Roland, IA 50236

$295,000

2,400 sqft

Nine-building residential package with garage parking and R zoning.

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18-Unit Duplex Package

1327 W 3rd Street, Nevada, IA 50201

$315,000

2,208 sqft

Ranch-style duplex portfolio spanning three Iowa communities with 18 units across nine buildings.

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Duplex Property with Garages

1319 W 3rd Street, Nevada, IA 50201

$315,000

2,208 sqft

Ranch-style duplexes with central air, public utilities, and garage parking across a multi-property package.

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Nine-Building Duplex Portfolio

1327 W 3rd St, Nevada, IA 50201

$315,000

2,208 sqft

An 18-unit duplex portfolio spanning three Iowa communities, with varied layouts across the individual residences.

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33-Unit Apartment Building

1521 S G Avenue, Nevada, IA 50201

$2,100,000

16,594 sqft 2.05 AC lot

Recently renovated 33-unit apartment building in MR R3 zoning with in-unit newly renovated kitchens and on-site coin laundry.

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Duplex Property with Garage

102 E Walnut Street, Roland, IA 50236

$295,000

2,400 sqft

2013-built residential income property in Roland with R zoning and multiple bedrooms.

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Nine-Building Duplex Portfolio

1319 W 3rd St, Nevada, IA 50201

$315,000

2,208 sqft

Multi-building residential income package with 18 units across three Iowa communities.

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Historic Brick Duplex

317 20th Street, Ames, IA 50010

$242,000

1,740 sqft 0.23 AC lot

Two-unit historic brick duplex with in-place leases through July 2027, hardwood floors, and in-unit laundry hookups.

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8-Unit Apartment Building

215 Jewel Drive, Ames, IA 50010

$950,000

8,267 sqft 0.57 AC lot

Eight apartments provide a mix of two-, three-, and four-bedroom floor plans with two full baths each.

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Historic Brick Duplex

319-317 20th St, Ames, IA 50010

$242,000

1,740 sqft

Two-unit property with hardwood floors, included appliances, basement laundry hookups, off-street parking, and private yard space.

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Two-Family Duplex with Attached Garages

2823-2825 Ontario Street, Ames, IA 50014

$235,000

2,374 sqft 0.33 AC lot

Updated two-unit duplex offers two 2-bedroom layouts, each with an attached garage, plus a fully renovated vacant unit.

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Brick 4-Plex with Coin-Op Laundry

506 Main Street, Slater, IA 50244

$300,000

1,575 sqft 0.26 AC lot

Four 2-bedroom, 1-bath units in a brick building, with coin-op laundry in the basement and updates over time.

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Historic Brick Duplex

317 20th St Unit 319, Ames, IA 50010

$242,000

1,740 sqft

Two leased units offer hardwood floors, included appliances, basement laundry hookups, and off-street parking.

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Mixed-Use Property with Retail Space

222 Water Street, Cambridge, IA 50046

$849,900

0.14 AC lot

Retail and residential components combine in one property with modern apartment amenities.

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18-Unit Duplex Package

102 E Walnut St, Roland, IA 50236

$295,000

2,400 sqft

Nine buildings are located across Nevada, Roland, and Baxter, with varied residential layouts and rental-use flexibility.

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Two-Bedroom Duplex with Private Backyard

1108-1110 Roosevelt Avenue, Ames, IA 50010

$243,500

1,722 sqft 0.14 AC lot

Solid duplex offers two bedrooms per unit, separate laundry, and outdoor space with a shared two-car garage.

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8-Unit Apartment Building

215 Jewel Dr, Ames, IA 50010

$950,000

1,120 sqft

Eight apartments provide a varied bedroom mix, with two full baths in every unit.

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Two Three-Story 18-Unit Apartment Buildings

1210 Walton Drive, Ames, IA 50014

$2,350,000

Well-maintained 2005-built multifamily package with in-unit laundry and updated LVT flooring, across from a CyRide stop.

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Mixed-Use Building with Retail

222 Water St, Cambridge, IA 50046

Contact for pricing

6,554 sqft

A mixed-use property combining retail space with four residential units, including handicap-accessible and recently updated apartments.

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Two 18-Unit Apartment Buildings

1209 Mayfield Drive, Ames, IA 50014

$2,350,000

Built in 2005, this West Ames multifamily includes 2- and 3-bedroom units with in-unit laundry and updated LVT flooring.

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Story County, IA Multifamily Properties Market Trends and Statistics

Explore 67 multifamily properties for sale in Story County, IA, showcased through 36 active listings on our real estate platform. These investment opportunities span a total of 359,628 square feet of properties for sale, with an estimated market value of $17,504,400.

Sale prices for multifamily properties in Story County, IA start at $185,000, averaging $673,246, and reaching up to $2,350,000 — offering options for a variety of budgets and business needs. Daily updated analytics ensure you stay ahead with the latest data and market trends.

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