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Listing ID: 202103962
Price: $800,000
Status: Contingent
Address: Buchmayer Bend NE
City: Iowa City
State: Iowa
Postal Code: 52240
Acres: 40.340
County: Johnson
Subdivision: None
Iowa City
IA
52240
Ideal development opportunity including 40.34 acres just on the edge of Iowa City off Highway 1. Conveniently located just minutes to I-80, such a desirable location. You'll appreciate the abundance of wildlife and picturesque views of the Iowa countryside. Projected platted subdivision included in attached documents highlights 19 sizable acre lots, chip seal roadways, and 3 community wells. 4 parcels (0725176001 - 5.52 acres) (0725101002 - 19.36 acres) (0724476002 - 11.08 acres) (0830227002 - 4.38 acres)

Primary Features

County: Johnson
Property Sub Type: Lot/Land
Property Type: Lots/Land
Subdivision: None
Zoning: Agriculture/Residential

External

Lot Dimensions: 40.34
Lot Size: 10-20 Acres, 20-50 Acres
Road Frontage: Gravel, Pavement, US Highway
Topology: Gentle Rolling, Level

Location

Area: Iowa City
Elementary School: Shimek
High School: City
Junior/Middle School: Southeast

Additional

Addendum: If 19 lots sold for $110k each ($2,090,000) less sales cost ($104,500), closing costs ($20,900), development costs ($685,435) and land cost ($800,000) for a potential profit of $479,165 (23%). The buyer agrees to cooperate with the sellers 1031 tax deferred exchange.
Amenities: None
Associated Document Count: 7
Days on Market: 329
Documents: Aerial Photo, Site Plan, Survey/Plat
Improvements: Open Land, Partially Wooded
Internet: no
Potential Use: Agriculture/Farming, Residential
Present Use: Undeveloped Land
Status Category: Active
Structure: None
Utilities Available: See Other Remarks
Water: Other

Financial

Annual Association Fee: None
Bank Owned: no
Gross Tax (County & City): 1029.21
Possible Financing: Cash, Conventional
Sale/Lease: For Sale
Tax ID: See below
Tax Year Report: 2019
Variable Rate: no

Zoning Info


© 2022 Iowa City Area MLS (ICAARMLS)
Information deemed reliable, but not guaranteed
Listing courtesy of Jeff Edberg of Lepic-Kroeger, REALTORS

Contact - Listing ID 202103962

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Jeff Edberg

2346 Mormon Trek Blvd, Ste #2000
Iowa City, IA 52246
Phone: 319-331-6187
Phone Alt: 319-331-6187

Data services provided by IDX Broker

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