$2,300,000

716 N Dubuque St Iowa City, IA 52245

Goosetown Neighborhood

Estimated payment $14,410/month

Total Views 20,649
-- Bed
-- Bath
5,626 Sq Ft
$409 Price per Sq Ft

Highlights

  • Brick or Stone Mason
  • Property is near schools
  • Heating System Uses Steam
  • City High School Rated A-

About This Home

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. Tenants must decide by year-7 if they want to renew for another 5 years at an increased rent rate of $16,500. Considerable notice to show and pre-approval / proof of funds required for showings. Updates completed in 2016: Brava 50-year roof tile installed, new windows, new sprinkler system, new doors and trim.

Listing Agent

Tyler Riddle

Lepic-Kroeger, REALTORS Listed on: 01/24/2025

Lepic-Kroeger, REALTORS

Co-Listing Agent

Sarah Miller

Lepic-Kroeger, REALTORS

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1925

Lot Details

  • Lot Dimensions are 65 x 100

Parking

  • 4 Parking Spaces

Home Design

  • Brick or Stone Mason

Interior Spaces

  • 5,626 Sq Ft Home
  • Finished Basement
  • Basement Fills Entire Space Under The House

Location

  • Property is near schools
  • Property is near shops
  • Property is near a bus stop

Schools

  • Mann Elementary School
  • Southeast Middle School

Utilities

  • Heating System Uses Steam
  • Internet Available

Listing and Financial Details

  • Assessor Parcel Number 1010204007

Community Details

Overview

  • 21 Units
  • Iowa City Original Town Subdivision

Building Details

  • Gross Income $189,000

Property Details

Home Type

Multi-Family

Year Built

Built in 1925

Lot Details

0

Listing Details

  • Property Type: MULTI-FAMILY
  • Type: Multi-Family
  • Photo Code: Broker Loaded
  • Remarks: 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. Tenants must decide by year-7 if they want to renew for another 5 years at an increased rent rate of $16,500. Considerable notice to show and pre-approval / proof of funds required for showings. Updates completed in 2016: Brava 50-year roof tile installed, new windows, new sprinkler system, new doors and trim.
  • Year Built: 1925
  • Subdivision: Iowa City Original Town
  • Rental Permit: Yes
  • Directions: I-80 to Dubuque St
  • 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, On Bus Line
  • Basement Remarks: Finished, Full
  • Possession R: Negotiable, At Closing
  • Possible Finance R: Cash, Conventional
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Sq Ft Above: 5626
  • Lower Level Sq Ft: 1200

Exterior Features

  • Construction: Brick

Garage/Parking

  • Parking Spaces: 4 or More Cars

Utilities

  • Internet: Yes
  • Water Sewer: City Sewer, City Water
  • Heating Cooling: Steam/Hotwater

Condo/Co-op/Association

  • Fees Include: None

Schools

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

Lot Info

  • Geo Subdivision: IA
  • Lot Dimensions: 65 x 100
  • Zoning: RM-44

Tax Info

  • Assessor Parcel Number: 1010204007

Multi Family

  • Units Total: 21

Map

Range of Values:

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Value Increase
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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 List to Sale Price per Sq Ft Prior Sale
01/24/2025 01/24/25 For Sale $2,300,000 +187.5% $409 / Sq Ft
04/27/2016 04/27/16 Sold $800,000 -33.3% $142 / Sq Ft View Prior Sale
04/26/2016 04/26/16 Pending -- -- --
10/09/2015 10/09/15 For Sale $1,200,000 -- $213 / Sq Ft
Source: Iowa City Area Association of REALTORS®

Source: Iowa City Area Association of REALTORS®

MLS Number: 202500734

Iowa City Area Association of REALTORS®
Iowa Johnson County Iowa City 52245 Goosetown

716 N Dubuque St, Iowa City, IA

For Sale

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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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Tyler Riddle
Listing Agent
Tyler Riddle
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Lepic-Kroeger, REALTORS
(319) 253-2740