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Listing ID: 202301149
Price: $1,550,000
Status: Active
Address: 365 Ellis Ave
City: Iowa City
State: Iowa
Postal Code: 52246
County: Johnson
Subdivision: Manville Heights Addition
Iowa City
12-plex in Manville Heights near the Visual Arts Building, U of I Art Library, Hancher & Levitt Center. All units are 3 bed - 1 bath and approx 950 sqft each with an average rental rate of $1,171 per month. This property has a total annual income of $166,452, actual expenses are $76,676 for a $89,775 NOI. Cap is 5.8%. All financials, including proforma, P&L and rent roll can be found is Assoc Docs. Off street parking in the lot behind the building. Tenant rights apply, allow 48 hours for notice.

Primary Features

County: Johnson
Property Sub Type: Multi-Family
Property Type: Multi-Family
Subdivision: Manville Heights Addition
Year Built: 1983
Zoning: RNS20


SqFt Above: 13542
Unit 1 Bedrooms: 3
Unit 1 Dining Room: yes
Unit 1 Full Baths: 1
Unit 1 Living Room: yes
Unit 1 Number: 1
Unit 2 Bedrooms: 3
Unit 2 Dining Room: yes
Unit 2 Full Baths: 1
Unit 2 Living Room: yes
Unit 2 Number: 2
Unit 3 Bedrooms: 3
Unit 3 Dining Room: yes
Unit 3 Full Baths: 1
Unit 3 Living Room: yes
Unit 3 Number: 3
Unit 4 Bedrooms: 3
Unit 4 Dining Room: yes
Unit 4 Full Baths: 1
Unit 4 Living Room: yes
Unit 4 Number: 4


Lot Dimensions: Irregular


Area: Iowa City
Elementary School: Lincoln
Geo Address Line: 365 Ellis Ave
High School: City
Junior/Middle School: Southeast


Addendum: Contact listing agents or ShowingTime Units 5,6, and 7 only.
Aging in Place Form: No
Associated Document Count: 4
Days on Market: 7
Elevators: No
Internet: yes
New Construction: no
Rental Permit: yes
Status Category: Active
Units Total: 12
Zero Step Entry: No


Annual Gross Expense: 76676
Annual Gross Income: 166452
Electric Annually: 600
Gas Annually: 600
Gross Tax (County & City): 35516
Insurance Annually: 8850
Maintenance Annually: 3372
Sale/Lease: For Sale
Tax ID: 1009108004
Tax Year Report: 2022
Unit 1 Monthly Rent: 1171
Unit 2 Monthly Rent: 1171
Unit 3 Monthly Rent: 1171
Variable Rate: no
Water Annually: 1200

Zoning Info

© 2023 Iowa City Area MLS (ICAARMLS)
Information deemed reliable, but not guaranteed
Listing courtesy of Jeff Edberg of Lepic-Kroeger, REALTORS

Contact - Listing ID 202301149

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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

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