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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
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


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


Lot Dimensions: 4.0


Area: NW Quadrant
Elementary School: Clear Creek
Geo Address Line: 1559 Ponds Edge Ct # 1672
High School: Clear Creek
Junior/Middle School: Clear Creek


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


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.

Contact - Listing ID 202205538

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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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