$1,275,000

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MLS #:
60096
Status:
Active

PRIME INVESTMENT LOCATION! Lincoln Way and S. Hyland Ave. in Campustown, Ames. Only a 10 minute walk to Central Campus. Seize the opportunity to own one of the most desirable street corners remaining for future development This conjoined portfolio of ACTIVE rental properties comprises nearly a half acre of development potential at the Southwest corner of Lincoln Way and South Hyland Ave. This ''L'' shaped assemblage of properties secures approximately 185' of street frontage on Lincoln Way, nearly 175' on S. Hyland Ave. The 3 existing rental houses boast $8,350 per month on leases already in place through July 2023. Subsidize your investment with robust rental revenue while you plan future development, or just secure this high-demand location in your portfolio for any number of future investment ventures. All 3 homes included in the sale have current Certificates of Rental Compliance with the City of Ames good through December 2023 and 2024. All 3 parcels are offered as one sale.

Courtesy of MLS Reciprocity:
Ralph Ring
RE/MAX REAL ESTATE CENTER
  • Total Units:
    0
  • Garage:
    1.0 Car, Detached
  • Year Built:
    1922
  • Living Area:
    4,853
  • Waterfront:
    No
  • Laundry:
    No
  • Tenant Pays:
    Snow Removal, Lawn Care, Water, Trash, Heat, Electric, Cable
  • Expenses:
    $25,391.00
  • Net Income:
    $74,808.50 Yearly
  • Gross Income:
    $100,200.00

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