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732,736,740 Michael Street

Iowa City, IA 52246
  • $4,000,000
  • STATUS: Active
  • ON SITE: 118 Days
  • MLS #: 2407186
UPDATED: 45 min ago
$4,000,000
  • 0
    BEDS
  • 1.05
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 16,128
    SQFT
  • $248
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1971
County:

School Information

Elementary School:
Middle School:
High School:

Description

42 multifamily units are available, comprising 3 buildings with 14 units each. There are 36 one-bedroom, one-bath units and 6 studio units. The roofs were replaced in 2018, and various improvements have been made to the units, including new carpet, updated kitchens, and new tubs in many of the units. The property is conveniently located near UIHC and the West University of Iowa campus, within walking distance of Kinnick Stadium. Rents have steadily increased. Tenants are transitioning to RUBS for utility payments as they move into their new lease terms.

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© 2025 Cedar Rapids Area Association of REALTORS® Multiple Listing Service, Inc. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Rosekrans Stines Team | RE/MAX Concepts. Data last updated: 2025-02-11T16:42:35.437.
www.realtybrotherscr.com/homes/156771771
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732,736,740 Michael Street Iowa City, IA 52246

  • Price: $4,000,000
  • Status: Active
  • On Site: 118 Days
  • Updated: 45 min ago
  • MLS #: 2407186
0
Beds
0
Baths
0
½ Baths
1.05
Acres
16,128
SQFT
$248
$/SQFT
1971
Built
Neighborhood:
Iowa City/Coralville
County:
Johnson
Area:
Iowa City/Coralville
Elementary School:
Horn
Middle School:
Northwest
High School:
West
Property Description
42 multifamily units are available, comprising 3 buildings with 14 units each. There are 36 one-bedroom, one-bath units and 6 studio units. The roofs were replaced in 2018, and various improvements have been made to the units, including new carpet, updated kitchens, and new tubs in many of the units. The property is conveniently located near UIHC and the West University of Iowa campus, within walking distance of Kinnick Stadium. Rents have steadily increased. Tenants are transitioning to RUBS for utility payments as they move into their new lease terms.
Exterior Features

Construction Materials Frame

Interior Features

Laundry Features Common Area

Property Features

Gross Income 396601 Net Operating Income 216340 Operating Expense 180261 Possession Negotiable Property Sub Type Multi Family Property Sub Type Additional Multi Family Tax Annual Amount 49362 Zoning RES Zoning Description RES

Listing information © 2025 Cedar Rapids Area Association of REALTORS® Multiple Listing Service.
Listing provided courtesy of Matthew Lepic of LEPIC-KROEGER, REALTORS: 319-351-8811.
© 2025 Cedar Rapids Area Association of REALTORS® Multiple Listing Service, Inc. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Rosekrans Stines Team | RE/MAX Concepts. Data last updated: 2025-02-11T16:42:35.437.
 
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Cedar Rapids IA, 52411