$1,795,000
12.0 Units
MLS: 202500523
First time on market! Nestled conveniently near Kinnick & UIHC. Built in 1983 by the current owner. 11 units- one is 3 BR/2BA. All units fully remodeled w/wood type floor, tile bathrooms, carpet in bedrooms, cabinets, countertops, plumbing fixtures, doors & millwork, electrical, stainless steel appliances & newer windows. New LED lights-units & common hallways. Newer coin ops laundry. Remodeled common hallways, doors, millwork & carpet. Re-insulated attic-2023. Parking lot painted-2024. In-unit laundry in three BR apartment. Water heat boiler & domestic hot water recently serviced. Fall 2024 updates: 12 wall unit AC. Gyp-Crete between floors for sound. Mostly brick building & newer vinyl siding. ALL NEW 3/4” roof sheeting, ice & damn entire roof, STANDING SEAM STEEL ROOF w/no penetration fasteners showing, snow/ice guard rail around entire roof, new vent pipes/ boots, new oversized 6” gutters & oversized 4”x 5” downspouts, new larger overhang over north exterior w/Malarkey class 4 impact resistant shingles, etc. VERY well-maintained property managed by owner. Laundry income: $350/mo. Potential add'l income sources: Game day parking, renting parking to tenants & travel nurse. Walking trail from complex to law college.
MLS #: 202500523
Price: $1,795,000
Year Built: 1983
Income/Yr: $150,000.00
Expense/Yr: $0.00
Parking: Off Street
Basement: Slab
Total Sq Ft: 3200
Electric Expense: $7,188.00
Gas Annually: $0.00
Maint Expense: $0.00
Insurance Expense: $7,700.00
Gross Tax: $18,083.00
Units: 12.0
Laundry: In Hall, Main Level
Energy Generation:
Heat/Cooling: Natural Gas, Forced Air, Ceiling Fans, Central Air
Elementary: Lincoln
Middle: Southeast
High: City
Information deemed reliable but not guaranteed
 | Edge Realty Group 319-351-3355 |
Listing Office: Lepic-Kroeger, REALTORS - Agent: Le Ann Dunne - Information furnished by Iowa City Area Association of Realtors