$1,875,000

5 Woolf Ave Unit & 15 Iowa City, IA 52246

Estimated payment $11,708/month

Total Views 306
6 Beds
4 Baths
12,168 Sq Ft
$154 Price per Sq Ft

Highlights

  • Brick or Stone Mason
  • Living Room
  • Forced Air Heating System
  • Norman Borlaug Elementary School Rated A-
  • Property is near schools
  • Dining Room

About This Home

Two well-maintained brick buildings on 0.40 acres of land located directly across from the VA Hospital and just a short walk to the UI Dental College and UIHC. This prime campus-area location offers dependable rental demand and exceptional long-term redevelopment potential. Building 1 has 9 studio units with approx 500 SF. Building 2 has 8 charming 2 BR / 1 BA apartments, each approx 800 SF. Both buildings have laundry rooms on site. Plenty of off-street parking including garages. Ideal as a stable income property with the added benefit of future high-end condo redevelopment in an irreplaceable Iowa City location close to hospitals, academics, transit & campus services. Please allow 48 hours' notice for tenants.

Listing Agent

Jeff Edberg

Lepic-Kroeger, REALTORS Listed on: 12/04/2025

Lepic-Kroeger, REALTORS

Co-Listing Agent

Carmen Krueger

Lepic-Kroeger, REALTORS

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1958

Parking

  • 4 Parking Spaces

Home Design

  • Brick or Stone Mason
  • Frame Construction

Interior Spaces

  • 12,168 Sq Ft Home
  • Living Room
  • Dining Room
  • Oven or Range

Location

  • Property is near schools
  • Property is near shops

Schools

  • Lincoln Elementary School
  • Southeast Middle School

Utilities

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

Listing and Financial Details

  • Assessor Parcel Number 1009301001

Community Details

Overview

  • 17 Units
  • Ackermans Subdivision

Building Details

  • Electric Expense $12,900
  • Insurance Expense $12,695
  • Maintenance Expense $6,828
  • Gross Income $186,600

Property Details

Home Type

Multi-Family

Year Built

Built in 1958

Lot Details

0

Listing Details

  • Property Type: MULTI-FAMILY
  • Type: Multi-Family
  • Photo Code: Broker Loaded
  • Remarks: Two well-maintained brick buildings on 0.40 acres of land located directly across from the VA Hospital and just a short walk to the UI Dental College and UIHC. This prime campus-area location offers dependable rental demand and exceptional long-term redevelopment potential. Building 1 has 9 studio units with approx 500 SF. Building 2 has 8 charming 2 BR / 1 BA apartments, each approx 800 SF. Both buildings have laundry rooms on site. Plenty of off-street parking including garages. Ideal as a stable income property with the added benefit of future high-end condo redevelopment in an irreplaceable Iowa City location close to hospitals, academics, transit & campus services. Please allow 48 hours' notice for tenants.
  • Year Built: 1958
  • Subdivision: Ackermans
  • Rental Permit: Yes
  • Directions: From eastbound Hwy 6, southeast on Newton Rd, north on Woolf Ave. At the corner of Woolf Ave and Newton Rd. Just west of the VA Hospital and east of Carver Hawkeye Arena.
  • Aging In Place Form: No
  • L O1 Dues Paid: y
  • L O2 Dues Paid: y
  • Amenities: Sidewalks, Street Lights, Close to School, Close to Shopping
  • Basement Remarks: See Remarks
  • Possession R: Negotiable
  • Possible Finance R: 1031 Exchange, Cash, Conventional
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Appliances: Range/Oven, Refrigerator
  • Sq Ft Above: 12168

Exterior Features

  • Construction: Brick, Frame

Garage/Parking

  • Parking Spaces: 4 or More Cars

Utilities

  • Internet: Yes
  • Water Sewer: City Sewer, City Water
  • Electric Annually: 12900
  • Heating Cooling: Electric, Gas, Forced Air, Other Cooling

Condo/Co-op/Association

  • Fees Include: None

Schools

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

Lot Info

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

Tax Info

  • Assessor Parcel Number: 1009301001

Multi Family

  • Units Total: 17

Map

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
Collateral Analytics

Collateral Analytics Collateral Analytics AVMs (Automated Valuation Model) employ a number of statistical approaches combined with neighborhood-specific comparable selection guarantees the most up-to-date and precise valuations.

Not Available

Collateral Analytics does not have data for the current month. Please view the chart for historical values.

ICE

ICE Mortgage Technology ICE Mortgage Technology’s AVM (Automated Valuation Model) is a state-of-the-art online residential property valuation tool that provides a quick and accurate estimate of the value of almost any home in the U.S.

Not Available

ICE Mortgage Technology does not have data for the current month. Please view the chart for historical values.

First American

First American First American Data & Analytics’ next-generation AVM combines unrivaled data assets with a blended ensemble of valuation models to produce highly accurate, reliable valuations you can trust.

Not Available

First American does not have data for the current month. Please view the chart for historical values.

Quantarium

Quantarium Quantarium’s valuation service, repeatedly proven the industry’s most accurate and comprehensive, is supercharged with a self-learning and auto-tuning AI engine that continually becomes smarter and more accurate as it processes daily inputs from the industry’s leading RE data lake.

Not Available

Quantarium does not have data for the current month. Please view the chart for historical values.

Average Value
Not Available
List Price
Sold Price
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area

Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
12/04/2025 12/04/25 For Sale $1,875,000 -- $154 / Sq Ft
Source: Iowa City Area Association of REALTORS®

Source: Iowa City Area Association of REALTORS®

MLS Number: 202507216

Iowa City Area Association of REALTORS®
Iowa Johnson County Iowa City 52240

5 Woolf Ave Unit & 15, Iowa City, IA

For Sale

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.

Nearby Homes
Jeff Edberg
Listing Agent
Jeff Edberg
Section Image
Lepic-Kroeger, REALTORS
(319) 271-1541