$1,250,000
8.0 Units
MLS: 202500525
What an opportunity! Eight unit building that are condos - property tax savings and ability to sell individually! Built by owner in 1993 and managed by same. No sprinkler system and no fireplaces. Building has SIX total garages of varying sizes. Two would fit three cars. Many recent updates include: nearly all lights replaced in unit and halls with LED. All flooring in units have been replaced w/mostly tile and LVP. Units regularly painted. Stainless steel appliances added. Cabinet hardware replaced with brushed nickel. Decks repaired/stained, exterior doors replaced, HVAC serviced, all hall carpets cleaned, all deadbolts, lever passages, etc replaced with Schlage products and parking lot striped in 2023. All garage doors serviced in recent years. Roof replaced in 2010 and attic insulation added in 2022. Self-managed and easy to manage. Rental permit thru 1 OCT 2025 and all units rented thru July 2025.
MLS #: 202500525
Price: $1,250,000
Year Built: 1993
Income/Yr: $117,600.00
Expense/Yr: $0.00
Parking: Attached Garage, Off Street
Basement: See Remarks
Total Sq Ft: 930
Electric Expense: $0.00
Gas Annually: $0.00
Maint Expense: $6,555.00
Insurance Expense: $7,724.00
Gross Tax: $2,390.00
Units: 8.0
Laundry: Laundry Room
Energy Generation:
Heat/Cooling: Natural Gas, Central Air
Elementary: Lemme
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