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Listing ID: 202203988
Price: $400,000
Status: Active
Address: 518 N Van Buren St
City: Iowa City
State: Iowa
Postal Code: 52245
County: Johnson
Subdivision: Iowa City (Original Town
Iowa City
IA
52245
Multifamily building in Iowa City in a great location close to downtown and the university of Iowa. 6 units in the building total, with the top unit having a rooming house designation with 4 separate bedrooms. Landlord pays all utilities. Lots of updates in the past 2 years including a new boiler system in 2020 and upgraded electric panel in 2021. Offstreet parking available. All units rented through July of 2022 for a total of $4425.00. With some further cosmetic renovations rents can be increased significantly. One owner license to sell real estate in Iowa. 48 hours notice required for showings, all units occupied.

Primary Features

County: Johnson
Property Sub Type: Multi-Family
Property Type: Multi-Family
Subdivision: Iowa City (Original Town
Year Built: 1900
Zoning: Residential Rooming House

Interior

Number of Fireplaces: 1
SqFt Above: 3020
SqFt Lower: 984
Unit 1 Bedrooms: 1
Unit 1 Dining Room: no
Unit 1 Full Baths: 1
Unit 1 Living Room: yes
Unit 1 Number: 1
Unit 2 Bedrooms: 2
Unit 2 Dining Room: no
Unit 2 Full Baths: 1
Unit 2 Living Room: yes
Unit 2 Number: 2
Unit 3 3/4 Baths: 1
Unit 3 Bedrooms: 1
Unit 3 Dining Room: no
Unit 3 Living Room: no
Unit 3 Number: 3
Unit 4 3/4 Baths: 1
Unit 4 Bedrooms: 1
Unit 4 Dining Room: no
Unit 4 Living Room: no
Unit 4 Number: 4

External

Lot Dimensions: 80x50

Location

Area: Iowa City
Elementary School: Mann
Geo Address Line: 518 N Van Buren St
High School: City
Junior/Middle School: Southeast

Additional

Addendum: Can be sold individually or as a package with 10 N Johnson and 408 S Governor.
Aging in Place Form: No
Associated Document Count: 2
Days on Market: 8
Elevators: No
Internet: yes
New Construction: no
Rental Permit: yes
Status Category: Active
Units Total: 6
Zero Step Entry: No

Financial

Annual Gross Expense: 28947
Annual Gross Income: 53100
Electric Annually: 1200
Gas Annually: 3600
Gross Tax (County & City): 12296
Insurance Annually: 1700
Maintenance Annually: 2000
Sale/Lease: For Sale
Tax ID: 1010153002
Tax Year Report: 2020
Unit 1 Monthly Rent: 800
Unit 2 Monthly Rent: 795
Unit 3 Monthly Rent: 550
Unit 4 Monthly Rent: 650
Variable Rate: no
Water Annually: 1200

Zoning Info


© 2022 Iowa City Area MLS (ICAARMLS)
Information deemed reliable, but not guaranteed
Listing courtesy of Bryant Nicholson of Pinnacle Realty

Contact - Listing ID 202203988

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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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