80 OLIVE CT, Iowa City

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$2,250,000
11.0 Units
MLS: 202500521

What an opportunity across from Kinnick Stadium! This property has one single family home of 1,769 sq ft w/4BR-3BA w/ attached garage+full basement. TEN add'l separate apartments. Three tenants have lived there for 10 yrs, 30 yrs & 50 yrs respectively! Average of three year tenancy for the other seven units. GREAT ADDITIONAL INCOME POTENTIAL with game day car parking and/or RV parking w/estimated income of over $22K! Apartments offer impressive opportunity to function as traveling nurse units or Air BnB. All units are rented for Fall 2025 with a rental income of $152,100. Laundry room connects the house to apartments. This property has been in the same family's portfolio since the 60's and is self managed. It is well cared for by the owners with updates in the home and most apartments in recent years. A real gem with outstanding opportunities!

      
Directions: From Melrose Ave near Kinnick take Olive Ct to the left. Property is on left

Property Details

MLS #: 202500521
Price: $2,250,000
Year Built: 1960
Income/Yr: $147,600.00
Expense/Yr: $0.00
Parking: Attached Garage, Drive Under, Off Street, On Street
Basement: Block, Full, Unfinished
Total Sq Ft: 0
Electric Expense: $4,925.00
Gas Annually: $0.00
Maint Expense: $0.00
Insurance Expense: $5,085.00
Gross Tax: $19,596.00
Units: 11.0
Laundry: Laundry Room, Lower Level
Energy Generation:
Heat/Cooling: Natural Gas, Forced Air, Central Air
Elementary: Horn
Middle: Northwest
High: West

Information deemed reliable but not guaranteed


Who To Contact

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Edge Realty Group

319-351-3355
 
info@edge-realtygroup.com


 Listing Office: Lepic-Kroeger, REALTORS - Agent: Le Ann Dunne - Information furnished by Iowa City Area Association of Realtors