Estimated payment $19,073/month
Wonderful opportunity to own an iconic incomer/business property in NEAR NORTHSIDE Neighborhood of Iowa CIty. 2 long time commercial tenants, and 16 apartments. Always fully rented. Downtown location. PIZZA and LAUNDROMAT are Tenants and are NOT CLOSING!!! ** This property has recently been added to the Iowa CIty Historical list. A 'Historical Overlay' is now in place. This affords several avenues for TAX CREDITS and RE-HAB FUNDING in the event a new owner were to pursue.
Home Type
Est. Annual Taxes
Year Built
Parking
Home Design
Unfinished Basement
Schools
Utilities
Additional Features
Listing and Financial Details
Overview
Building Details
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2024 | $37,822 | $1,530,570 | $487,500 | $1,043,070 |
| 2023 | $34,768 | $1,530,570 | $487,500 | $1,043,070 |
| 2022 | $38,454 | $1,309,560 | $487,500 | $822,060 |
| 2021 | $39,614 | $1,309,560 | $487,500 | $822,060 |
| 2020 | $39,614 | $1,309,560 | $487,500 | $822,060 |
| 2019 | $38,276 | $775,222 | $487,500 | $287,722 |
| 2018 | $38,276 | $692,127 | $429,000 | $263,127 |
| 2017 | $39,914 | $692,127 | $429,000 | $263,127 |
| 2016 | $37,744 | $614,870 | $370,500 | $244,370 |
| 2015 | $37,744 | $614,870 | $370,500 | $244,370 |
| 2014 | $33,970 | $930,230 | $292,500 | $637,730 |
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 04/10/2025 04/10/25 | Price Changed | $3,000,000 | -40.0% | -- |
| 09/21/2023 09/21/23 | For Sale | $5,000,000 | -- | -- |
$2,300,000
Rare investment opportunity - 21 room boarding house currently leased to a fraternity, leased through the grand chapter. Tenant is responsible for all maintenance, except for boiler and roof. Boiler was replaced December 2024. Owner is responsible for up to $1,100 in utility expense, unless fully occupied - Currently at full occupancy. There are 6 years left on the 10-year Lease Agreement.
Tyler Riddle Lepic-Kroeger, REALTORS
Source: Iowa City Area Association of REALTORS®
MLS Number: 202304995
APN: 1010284006
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