NOT LISTED FOR SALE

365 Ellis Ave Iowa City, IA 52246

Manville Heights Neighborhood
12 Beds
4 Baths
13,542 Sq Ft
1983 Built

Last Sold May 01, 2023

Last sale price $1,300,000 $96 Per Sq Ft

52 Days on Market

Highlights

  • Living Room
  • Property is near schools
  • Dining Room
  • City High School Rated A-
  • Forced Air Heating and Cooling System

About This Home

As of May 2023

12-plex in Manville Heights near the Visual Arts Building, U of I Art Library, Hancher & Levitt Center. All units are 3 bed - 1 bath and approx 950 sqft each with an average rental rate of $1,171 per month. This property has a total annual income of $166,452, actual expenses are $76,676 for a $89,775 NOI. Cap is 5.8%. All financials, including proforma, P&L and rent roll can be found is Assoc Docs. Off street parking in the lot behind the building. Tenant rights apply, allow 48 hours for notice.

Last Agent to Sell the Property

Jeff Edberg

Lepic-Kroeger, REALTORS Listed on: 03/03/2023

Lepic-Kroeger, REALTORS

Last Buyer's Agent

Monica Hayes

Lepic-Kroeger, REALTORS

Lepic-Kroeger, REALTORS

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1983

Parking

  • 4 Parking Spaces

Home Design

  • Poured Concrete
  • Frame Construction

Interior Spaces

  • 13,542 Sq Ft Home
  • Living Room
  • Dining Room

Kitchen

  • Oven or Range
  • Dishwasher

Location

  • Property is near schools

Schools

  • Lincoln Elementary School
  • Southeast Middle School

Utilities

  • Forced Air Heating and Cooling System
  • Heating System Uses Gas
  • Internet Available

Listing and Financial Details

  • Assessor Parcel Number 1009108004

Community Details

Overview

  • 12 Units
  • Manville Heights Addition Subdivision

Building Details

  • Electric Expense $600
  • Fuel Expense $600
  • Insurance Expense $8,850
  • Maintenance Expense $3,372
  • Water Sewer Expense $1,200
  • Gross Income $166,452

Property Details

Home Type

Multi-Family

Year Built

Built in 1983

Lot Details

0

Listing Details

  • Property Type: MULTI-FAMILY
  • Type: Multi-Family
  • Photo Code: Complete
  • Remarks: 12-plex in Manville Heights near the Visual Arts Building, U of I Art Library, Hancher & Levitt Center. All units are 3 bed - 1 bath and approx 950 sqft each with an average rental rate of $1,171 per month. This property has a total annual income of $166,452, actual expenses are $76,676 for a $89,775 NOI. Cap is 5.8%. All financials, including proforma, P&L and rent roll can be found is Assoc Docs. Off street parking in the lot behind the building. Tenant rights apply, allow 48 hours for notice.
  • T Val: 1300000
  • Year Built: 1983
  • Tax Year Report: 2022
  • Subdivision: Manville Heights Addition
  • Rental Permit: Yes
  • Water Annually: 1200
  • Directions: From S Riverside Dr go north on N Riverside Dr, east on River St, north on Ellis Ave
  • Aging In Place Form: No
  • L O1 Dues Paid: y
  • S O1 Dues Paid: y
  • Amenities: Sidewalks, Street Lights, Close to School
  • Basement Remarks: Poured Concrete
  • Possession R: Negotiable
  • Possible Finance R: Cash, Conventional
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Appliances: Dishwasher, Range/Oven, Refrigerator
  • Sq Ft Above: 13542

Exterior Features

  • Construction: Frame

Garage/Parking

  • Parking Spaces: 4 or More Cars

Utilities

  • Internet: Yes
  • Water Sewer: City Sewer, City Water
  • Electric Annually: 600
  • Gas Annually: 600
  • Heating Cooling: Gas, Central, Forced Air

Condo/Co-op/Association

  • Fees Include: None

Schools

  • Elementary School: Lincoln
  • Middle School: Southeast
  • High School: City
  • High School: City
  • Jr Middle School: Southeast
  • Elementary School: Lincoln

Lot Info

  • Geo Subdivision: IA
  • Lot Dimensions: Irregular
  • Zoning: RNS20

Tax Info

  • Gross Tax County City: 35516
  • Assessor Parcel Number: 1009108004

Multi Family

  • Units Total: 12

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
05/01/2023 05/01/23 Sold $1,300,000 -16.1% $96 / Sq Ft
03/03/2023 03/03/23 For Sale $1,550,000 +47.6% $114 / Sq Ft
01/10/2020 01/10/20 Sold $1,050,000 -8.7% $233 / Sq Ft
09/19/2019 09/19/19 For Sale $1,150,000 -- $255 / Sq Ft
Source: Iowa City Area Association of REALTORS®

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Jeff Edberg

    Seller's Agent in 2023

    Jeff Edberg

    Lepic-Kroeger, REALTORS

    (319) 331-6187

    2 in this area

    167 Total Sales

    Jeff Edberg
    Section Image
  • Monica Hayes

    Buyer's Agent in 2023

    Monica Hayes

    Lepic-Kroeger, REALTORS

    (319) 519-0569

    3 in this area

    666 Total Sales

    Monica Hayes
    Section Image
See All Agents

Map

Source: Iowa City Area Association of REALTORS®

MLS Number: 202301149

Iowa City Area Association of REALTORS®
Iowa Johnson County Iowa City 52246 Manville Heights

365 Ellis Ave, Iowa City, IA

This home is located at 365 Ellis Ave, Iowa City, IA 52246 since 03 March 2023. This property was built in 1983. 365 Ellis Ave is a home located in Johnson County with nearby schools including Lincoln Elementary School, Northwest Junior High School, and City High School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

Iowa City Area Association of REALTORS® IDX information is provided exclusively for consumers’ personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

Listing information is deemed reliable, but not guaranteed accurate by the MLS.

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