$3,850,000
$150K PRICE DROP

Estimated payment $25,418/month

Total Views 97,978
-- Bed
-- Bath
16,128 Sq Ft
$239 Price per Sq Ft

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 CORRIDOR, REALTORS Listed on: 10/15/2024

LEPIC-KROEGER CORRIDOR, REALTORS

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $49,362

Year Built

  • Built in 1971

Lot Details

  • 1.05 Acre Lot

Home Design

  • 16,128 Sq Ft Home
  • Frame Construction

Schools

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

Listing and Financial Details

  • Assessor Parcel Number 1016184003

Community Details

Overview

  • 42 Units

Building Details

  • Operating Expense $180,261
  • Gross Income $396,601
  • Net Operating Income $216,340

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$49,362

Year Built

Built in 1971

Lot Details

0

Listing Details

  • Property Type: Residential
  • Zoning: RES
  • Property Sub-Type: Multi Family
  • ResoLaundryFeatures: Common Area
  • Lot Size Acres: 1.05
  • Co List Office Phone: 319-351-8811
  • MLS Status: Active
  • Directions: Benton Street to Michael Street
  • Year Built: 1971
  • Property Sub Type Additional: Multi Family
  • Special Features: VirtualTour
  • Property Sub Type: MultiFamily

Exterior Features

  • Construction Type: Frame

Schools

  • Elementary School: Horn
  • High School: West
  • Middle Or Junior School: Northwest

Lot Info

  • Lot Dimensions: IRR
  • ResoLotSizeUnits: Acres
  • Parcel Number: 1016184003
  • Zoning Description: RES
  • ResoLotSizeUnits: Acres

Multi Family

  • Gross Income: 396601.0
  • Net Operating Income: 216340.0
  • Number Of Units Total: 42
  • Annual Operating Expense: 180261.0

Tax Info

  • Tax Annual Amount: 49362.0

Map

Range of Values:

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 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: Cedar Rapids Area Association of REALTORS®

About the Listing Agent

Matthew Lepic

LEPIC-KROEGER CORRIDOR, REALTORS

(319) 725-2048

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

Matthew's Other Listings

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

    $3,850,000

    • 3 Beds
    • 4 Baths
    • 8,064 Sq Ft
    • 732,736,740 Michael St
    • Iowa City, IA

    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

    Matthew Lepic Lepic-Kroeger, REALTORS

    Section Image
  • 56 Pentire Cir, Iowa City, IA 52245

    $265,000

    • 3 Beds
    • 2.5 Baths
    • 1,868 Sq Ft
    • 56 Pentire Cir
    • Iowa City, IA

    IThis two-story condo features 3 bedrooms, 2.5 bathrooms, and boasts the best Price Per Square Foot in the Association. The main level includes an office area, a living room with a gas fireplace, a dining area, and a sunroom. The spacious kitchen is equipped with an island and a half bath. Recently, new flooring has been installed on the lower level. The condo also offers an oversized 2-car

    Matthew Lepic Lepic-Kroeger, REALTORS

    Section Image
  • 3752 Lacina Dr SW, Iowa City, IA 52240

    $750,000

    • 5 Beds
    • 3 Baths
    • 3,307 Sq Ft
    • 3752 Lacina Dr SW
    • Iowa City, IA

    This beautiful property spans nearly 2 acres and is just a short drive from town! You'll love the 5-bedroom, 3-bath home, which boasts amazing structure. Thanks to the spray foam insulation throughout, your utility costs will stay low! The spacious kitchen on the main level features a delightful breakfast bar, sleek stainless-steel appliances, and lovely tile work that adds a special touch. The

    Matthew Lepic Lepic-Kroeger, REALTORS

    Section Image
  • 1415 Deerfield Dr, North Liberty, IA 52317

    $400,000 Pending

    • 4 Beds
    • 2.5 Baths
    • 2,792 Sq Ft
    • 1415 Deerfield Dr
    • North Liberty, IA

    Spacious 4 Bedroom, 2.5-bath single-family home in Deerfield. Upon entering, you will be greeted by a vaulted living area featuring luxury vinyl plank (LVP) flooring that extends through the living room, dining room, and kitchen. The kitchen boasts granite countertops, ample cabinet space, and a large island with a seating bar. Cozy up by the corner gas fireplace with a stone surround. Step

    Matthew Lepic LEPIC-KROEGER CORRIDOR, REALTORS

    Section Image
  • 1415 Deerfield Dr, North Liberty, IA 52317

    $400,000 Under Contract

    • 4 Beds
    • 2.5 Baths
    • 2,792 Sq Ft
    • 1415 Deerfield Dr
    • North Liberty, IA

    Spacious 4-bedroom, 2.5-bath single-family home in Deerfield. Upon entering, you will be greeted by a vaulted living area featuring luxury vinyl plank (LVP) flooring that extends through the living room, dining room, and kitchen. The kitchen boasts granite countertops, ample cabinet space, and a large island with a seating bar. Cozy up by the corner gas fireplace with a stone surround. Step

    Matthew Lepic Lepic-Kroeger, REALTORS

    Section Image
  • 312 Sycamore Dr, West Branch, IA 52358

    $244,900 New Construction

    • 2 Beds
    • 2.5 Baths
    • 1,561 Sq Ft
    • 312 Sycamore Dr
    • West Branch, IA

    Welcome to this beautiful new construction 2-bedroom, 2.5-bathroom, 2-story townhome with almost 1600 sqft. The main level features luxury vinyl plank (LVP) flooring throughout. The kitchen is equipped quartz countertops, stainless steel appliances, a pantry, and an island. There's also a convenient half bath on the main level. Cabinets, trim, and doors throughout the home are white. Hardware,

    Matthew Lepic LEPIC-KROEGER CORRIDOR, REALTORS

    Section Image
  • 314 Sycamore Dr, West Branch, IA 52358

    $244,900 New Construction

    • 2 Beds
    • 2.5 Baths
    • 1,561 Sq Ft
    • 314 Sycamore Dr
    • West Branch, IA

    Welcome to this beautiful new construction 2-bedroom, 2.5-bathroom, 2-story townhome with almost 1600 sqft. The main level features luxury vinyl plank (LVP) flooring throughout. The kitchen is equipped quartz countertops, stainless steel appliances, a pantry, and an island. There's also a convenient half bath on the main level. Cabinets, trim, and doors throughout the home are white. Hardware,

    Matthew Lepic LEPIC-KROEGER CORRIDOR, REALTORS

    Section Image

Source: Cedar Rapids Area Association of REALTORS®

MLS Number: 2407186

Cedar Rapids Area Association of REALTORS®