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    1012,1014 N Summit Street

    Iowa City, IA 52240
    • $1,250,000
    • STATUS: Active
    • ON SITE: 25 days
    • MLS #: 2102468
    UPDATED: 75 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.

    Monthly Payment Calculator

    © 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: 2021-05-16T15:42:30.757.
    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: 75 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: 2021-05-16T15:42:30.757.
     
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    The Graf Home Selling Team & Associates
    1190 Twixt Town Rd NE
    Cedar Rapids IA, 52402