James Place Apartments — Sale in Ames, IA
- Price: $3M
- Listing type: For sale
- Asset type: Business
- Location: Ames, IA 50014
Photos
Description
NEW LISTING | 39 Units | 97% Occupied | Ames, Iowa Address: 4733 Toronto St, Ames, IA 50014 List Price: $3,000,000 Cap Rate: 8.11% Number of Units: 39 Unit Mix: 9-1BR/1BA; 30-3BR/1.5BA Avg. Unit Rent: $857 Ag. Unit Size: 876 SF Year Built: 1985 Click here for more information: https://www.cbredealflow.com/buyer/agreement?pv=ywaIgTC873dNXnDB1zbWVprQchse599AW5P4SJYxVnW4-voazcOJuZ0_qKjdDmX4 CBRE is pleased to exclusively offer for sale James Place Apartments, a 39-unit multifamily community located in Ames, Iowa, one of the Midwest’s most stable and dynamic rental markets. Home to more than 65,000 residents and Iowa State University, a Big 12 institution with enrollment exceeding 31,000 students, Ames benefits from a diversified economic base, a highly educated workforce, and consistent housing demand. Positioned just 30 miles north of Des Moines at the intersection of Interstate 35 and Highway 30, the city serves as a strategic hub within Central Iowa. Situated in a desirable residential neighborhood on the northwest side of Ames, James Place offers convenient access to major thoroughfares, neighborhood amenities, and Sawyer Elementary School. The property features an attractive mix of one- and three-bedroom apartment homes, appealing to a broad tenant base. Current ownership has maintained the asset well and completed several capital improvements, including a newer roof, flooring and lighting upgrades in select units, and replacement of mechanical systems as needed. Constructed in 1985, James Place Apartments presents investors with the opportunity to acquire a stabilized asset that is currently 97% occupied at a basis significantly below replacement cost. With a proven operating history, limited near-term capital requirements, and strong market fundamentals driven by Iowa State University and the greater Ames economy, James Place offers attractive cash flow with the potential for continued long-term growth. Long-term, local pride of ownership 39-unit apartment
Market Context
This commercial property in Ames, IA is listed for sale at $3,000,000. Compare it against other commercial property listings for sale in Ames, IA — view the full market.
First seen on CREHunt: Oct 4, 2026
Contact
- Ray Hamilton · 515 415 6111 · ray.hamilton@cbre.com
- Clark Matthews · 515 415 6131 · clark.matthews@cbre.com
- Cy Fox · 515 415 6109 · cy.fox@cbre.com
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