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1012,1014 N Summit Street

Iowa City, IA 52240
  • $1,250,000
  • STATUS: Active
  • ON SITE: 179 Days
  • MLS #: 2102468
UPDATED: 12 min ago
$1,250,000
  • 0
    BEDS
  • 1.48
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 10,350
    SQFT
  • $121
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1962
County:

School Information

Elementary School:
Middle School:
High School:

Description

Amazing opportunity to purchase Multi Family Property in Iowa City with additional development potential. 3 Parcels totaling 1.48 Acres. 15 Rental Units, almost all updated. Land is zoned R12 so there is a potential of adding 9 more units on these parcels. Units include 1 6 plex, 2 duplex's, 1 Triplex and 2 Cottages. All rents can be improved with the improvements already made. 2 other parcels listed separately adjacent to the property could add an additional potential of 30 more units. Concepts for additional buildings can be provided. Proforma numbers with rents when units are finished are available as well.

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© 2021 Cedar Rapids Area Association of REALTORS® Multiple Listing Service, Inc. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or The Graf Home Selling Team & Associates. Data last updated: 2021-10-17T23:42:25.86.
www.cedarrapidsareahomes.com/homes/116285732
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1012,1014 N Summit Street Iowa City, IA 52240

  • Price: $1,250,000
  • Status: Active
  • Updated: 12 min ago
  • MLS #: 2102468
0
Beds
0
Baths
0
½ Baths
1.48
Acres
10,350
SQFT
$121
$/SQFT
1962
Built
Neighborhood:
Iowa City/Coralville
County:
Johnson
Area:
Iowa City/Coralville
Elementary School:
Mann
Middle School:
Southeast
High School:
City
Property Description
Amazing opportunity to purchase Multi Family Property in Iowa City with additional development potential. 3 Parcels totaling 1.48 Acres. 15 Rental Units, almost all updated. Land is zoned R12 so there is a potential of adding 9 more units on these parcels. Units include 1 6 plex, 2 duplex's, 1 Triplex and 2 Cottages. All rents can be improved with the improvements already made. 2 other parcels listed separately adjacent to the property could add an additional potential of 30 more units. Concepts for additional buildings can be provided. Proforma numbers with rents when units are finished are available as well.
Exterior Features

Construction Materials Frame Other Structures Shed(S) Parking Features Parking Space(S)

Interior Features

Cooling Central AirWall/Window Unit(S) Cooling YN Yes Heating CentralForced AirGas Heating YN Yes

Property Features

Gross Income 125460 Net Operating Income 72513 Property Sub Type Multi Family Sewer Public Sewer Tax Annual Amount 28652 Tenant Pays ElectricityGas Utilities Separate Meters Water Source Public Zoning Description R12

Listing information © 2021 Cedar Rapids Area Association of REALTORS® Multiple Listing Service.
Listing provided courtesy of Matthew Lepic of Lepic-Kroeger, Realtors.
© 2021 Cedar Rapids Area Association of REALTORS® Multiple Listing Service, Inc. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or The Graf Home Selling Team & Associates. Data last updated: 2021-10-17T23:42:25.86.
 
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The Graf Home Selling Team & Associates
1190 Twixt Town Rd NE
Cedar Rapids IA, 52402