$3,850,000

732,736,740 Michael St Iowa City, IA 52246

Miller Orchard Neighborhood

Estimated payment $25,113/month

Total Views 84,459
3 Beds
4 Baths
8,064 Sq Ft
$477 Price per Sq Ft

Highlights

  • Living Room
  • Dining Room
  • Heating System Uses Steam
  • West High School Rated A
  • Baseboard Heating
  • 5-minute walk to Benton Hill Park

About This Home

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.

Listing Agent

Matthew Lepic

Lepic-Kroeger, REALTORS Listed on: 04/08/2025

Lepic-Kroeger, REALTORS

Co-Listing Agent

Nicole Lepic

Lepic-Kroeger, REALTORS

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1971

Parking

  • 4 Parking Spaces

Home Design

  • Slab Foundation
  • Frame Construction

Interior Spaces

  • 8,064 Sq Ft Home
  • Living Room
  • Dining Room
  • Oven or Range

Schools

  • Horn Elementary School
  • Northwest Middle School
  • West High School

Utilities

  • Baseboard Heating
  • Heating System Uses Steam
  • Heating System Mounted To A Wall or Window
  • Internet Available

Listing and Financial Details

  • Assessor Parcel Number 1016184003

Community Details

Overview

  • 42 Units
  • School Commissioners Sub Subdivision

Building Details

  • Gross Income $396,601

Property Details

Home Type

Multi-Family

Year Built

Built in 1971

Lot Details

0

Listing Details

  • Property Type: MULTI-FAMILY
  • Type: Multi-Family
  • Photo Code: Broker Loaded
  • Remarks: 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.
  • Year Built: 1971
  • Tax Year Report: 2023
  • Subdivision: School Commissioners Sub
  • Rental Permit: Yes
  • Directions: W. Benton St. to Michael St.
  • L O1 Dues Paid: y
  • L O2 Dues Paid: y
  • Amenities: Sidewalks, Street Lights
  • Basement Remarks: Slab
  • 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: 8064
  • Lower Level Sq Ft: 8064

Exterior Features

  • Construction: Frame

Garage/Parking

  • Parking Spaces: 4 or More Cars

Utilities

  • Internet: Yes
  • Water Sewer: City Sewer, City Water
  • Heating Cooling: Window/Wall Units, Baseboard, Steam/Hotwater

Condo/Co-op/Association

  • Fees Include: None

Schools

  • Elementary School: Horn
  • Middle School: Northwest
  • High School: West
  • High School: West
  • Jr Middle School: Northwest
  • Elementary School: Horn

Lot Info

  • Geo Subdivision: IA
  • Lot Dimensions: 1.05 Acre
  • Zoning: COMM

Tax Info

  • Gross Tax County City: 49362
  • Assessor Parcel Number: 1016184003

Multi Family

  • Units Total: 42

Map

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
04/08/2025 04/08/25 Price Changed $3,850,000 0.0% $239 / Sq Ft
04/08/2025 04/08/25 For Sale $3,850,000 -3.8% $477 / Sq Ft
10/15/2024 10/15/24 For Sale $4,000,000 -- $248 / Sq Ft
Source: Iowa City Area Association of REALTORS®

About the Listing Agent

Matthew Lepic
Matthew Lepic

Lepic-Kroeger, REALTORS

(319) 220-3494

Section Image

Together Matthew and Nicole formed the Lepic Elite Home Team in 2008. They knew that their expansive background in Real Estate would be a huge asset for their clients. Matthew and Nicole’s joint wisdom can guide you to making the best decision so you can feel comfortable in your outcome. They have knowledge, experience and education with new construction, remodeling, investments, development, and also listing your current property or purchasing an existing home. Since Nicole is from Linn County

View Matthew's Profile

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Source: Iowa City Area Association of REALTORS®

MLS Number: 202502357

Iowa City Area Association of REALTORS®

Iowa Johnson County Iowa City 52246 Miller Orchard

732,736,740 Michael St, Iowa City, IA

This home is located at 732,736,740 Michael St, Iowa City, IA 52246 and is currently priced at $3,850,000, approximately $477 per square foot. This property was built in 1971. 732,736,740 Michael St is a home located in Johnson County with nearby schools including Ernest Horn Elementary School, Northwest Junior High School, and West 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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Matthew Lepic
Matthew Lepic
Listing Agent Section Image
Lepic-Kroeger, REALTORS
(319) 220-3494