$7,350,000
100.0 Units
MLS: 202406039
This is a 100-unit cooperative project with all units leased out. 66 are one bedroom with 575 SF and 34 are two bedroom with 800 SF. The building is a quadrangle style with grassy area in the middle. Annual income is $966,180, expenses are 50% at $483,083 and NOI is $483,097 giving a 6.6% CAP Rate. There are separate laundry rooms for extra income and two basement areas with storage units for the tenants. The parcel is 3.765 acres and has approximately 100 parking spaces and bus service nearby. Close to banking, shopping, schools and parks. It is also directly across Arthur street from the new Johnson County Neighborhood Center, a daycare and community center that will offer classrooms, computer lab, bikes for loan, playground and a center for community activities. Also, as a cooperative property, each unit could be sold individually.
MLS #: 202406039
Price: $7,350,000
Year Built: 1962
Income/Yr: $966,180.00
Expense/Yr: $0.00
Parking: Off Street
Basement: Partial
Total Sq Ft: 2484
Electric Expense: $9,662.00
Gas Annually: $0.00
Maint Expense: $34,880.00
Insurance Expense: $144,000.00
Gross Tax: $104,447.00
Units: 100.0
Laundry:
Energy Generation:
Heat/Cooling: Natural Gas, Forced Air, Window Units
Elementary: Lucas
Middle: Southeast
High: City
Information deemed reliable but not guaranteed
 | Edge Realty Group 319-351-3355 |
Listing Office: Lepic-Kroeger, REALTORS - Agent: Jeff Edberg - Information furnished by Iowa City Area Association of Realtors