513 Garden Road Ames, IA 50010

Features

• Price/sqft: $230
• Lot Size: 0.2902 acres
• Total Units: 2
• Total Rooms: 9
• Room List: Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5, Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4
• Heating: Forced Air Heating

Facts

• Year Built: 01/01/1976
• Property ID: 913014323
• MLS Number: 700893
• Property Type: Multi-family (2-4 units)
• County: Story
• Listing Status: Active

Sale Type

This is an MLS listing, meaning the property is represented by a real estate broker, who has contracted with the home owner to sell the home.

Description

This listing is NOT a foreclosure. This renovated duplex, located on the south side of Ames, presents an outstanding investment opportunity with a CAP rate of 6.5% and secured leases extending through July 2025. The exterior was just refreshed with new vinyl siding. Each unit offers 3 bedrooms and 2 bathrooms, featuring recent upgrades such as flooring, paint, appliances, countertops, hardware, and fixtures. The main floor of each unit includes a living room, an eat-in kitchen, two bedrooms, and a full bathroom. The walkout lower level expands the living space with a third bedroom, a bathroom, a laundry room, and a family room, with access to two patios nestled under mature trees. Additional conveniences include an attached two-car garage (one per unit) and off-street parking. Situated in a desirable neighborhood close to Mitchell Elementary, this property boasts a strong rental history and quick occupancy, ensuring consistent rental income.