Listing ID: 202205538
Price: $3,500,000
Status: Active
Address: 1559-1672 Ponds Edge
City: North Liberty
State: Iowa
Postal Code: 52317
County: Johnson
Subdivision: NL PONDS EDGE
North Liberty
IA
52317
Perfect investment for a builder or developer. The property for sale is 9 condominium rental homes and 27 undeveloped condo lots. Two condo buildings are built and there is a potential to build four more condo buildings. Existing condo units rent at approximately $2,000/month, see attached Proforma and Rent Roll. Approximately $2,250,000 for the 9 condo units ($250,000/unit) and $1,250,000 for the 27 condo lots ($46,300/lot). To be sold as a package. Brochure attached.
Primary Features
County:
Johnson
Property Sub Type:
Multi-Family
Property Type:
Multi-Family
Subdivision:
NL PONDS EDGE
Year Built:
2003
Zoning:
RM-8
Interior
Unit 1 Bedrooms:
4
Unit 1 Dining Room:
yes
Unit 1 Full Baths:
4
Unit 1 Living Room:
no
Unit 1 Number:
1
Unit 2 Bedrooms:
4
Unit 2 Dining Room:
yes
Unit 2 Full Baths:
4
Unit 2 Living Room:
yes
Unit 2 Number:
2
Unit 3 Bedrooms:
4
Unit 3 Dining Room:
yes
Unit 3 Full Baths:
4
Unit 3 Living Room:
yes
Unit 3 Number:
3
Unit 4 Bedrooms:
5
Unit 4 Dining Room:
yes
Unit 4 Full Baths:
4
Unit 4 Living Room:
yes
Unit 4 Number:
4
External
Lot Dimensions:
4.0
Location
Area:
NW Quadrant
Elementary School:
Clear Creek
Geo Address Line:
1559 Ponds Edge Ct # 1672
High School:
Clear Creek
Junior/Middle School:
Clear Creek
Additional
Addendum:
SOC is •2.50% up the the first $1 million. •2.25% from $1 million to $2 million. •2.0% on anything above $2 million.
Aging in Place Form:
No
Associated Document Count:
6
Days on Market:
12
Elevators:
No
Internet:
yes
New Construction:
no
Rental Permit:
yes
Status Category:
Active
Units Total:
9
Zero Step Entry:
No
Financial
Annual Association Fee:
tbd
Annual Gross Expense:
65698
Annual Gross Income:
216000
Gross Tax (County & City):
30870
Insurance Annually:
5100
Maintenance Annually:
9000
Sale/Lease:
For Sale
Tax ID:
Multiple
Tax Year Report:
2021
Unit 1 Monthly Rent:
2000
Unit 2 Monthly Rent:
2000
Unit 3 Monthly Rent:
2000
Unit 4 Monthly Rent:
2000
Variable Rate:
yes
Zoning Info
© 2023 Iowa City Area MLS (ICAARMLS)
Information deemed reliable, but not guaranteed
Listing courtesy of Mark Lynch of Skogman Realty Co.
Information deemed reliable, but not guaranteed
Listing courtesy of Mark Lynch of Skogman Realty Co.
Contact - Listing ID 202205538
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
