$3,750,000

Estimated payment $23,652/month

Total Views 11,467
3 Beds
4 Baths
8,064 Sq Ft
$465 Price per Sq Ft

Highlights

  • Very Popular Property
  • Living Room
  • Baseboard Heating
  • West High School Rated A
  • Dining Room
  • 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: 10/01/2025

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
  • 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

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

Lot Info

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

Tax Info

  • 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 List to Sale Price per Sq Ft
10/01/2025 10/01/25 Price Changed $3,750,000 0.0% $233 / Sq Ft
10/01/2025 10/01/25 For Sale $3,750,000 -2.6% $465 / Sq Ft
04/08/2025 04/08/25 Price Changed $3,850,000 -3.8% $239 / 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

Lepic-Kroeger, REALTORS

(319) 205-2706

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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

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    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

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  • 505 Avalon Place, Coralville, IA 52241

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  • 804 Windam Dr, Solon, IA 52333

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    Owners are Licensed Real Estate Agents in the State of Iowa.

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Source: Iowa City Area Association of REALTORS®

MLS Number: 202506132

Iowa City Area Association of REALTORS®