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Listing ID: 202301150
Price: $1,450,000
Status: Active
Address: 340 Ellis Ave
City: Iowa City
State: Iowa
Postal Code: 52246
County: Johnson
Subdivision: Manville Heights Addition
Iowa City
16-plex in Manville Heights near the Visual Arts Building, U of I Art Library, Hancher & Levitt Center. This unique building has 5 studio units and 11 one bedroom units, all leased with rents from $640 to $1060. Charming units, some with fireplaces. This property has a total annual income of $151,200, actual expenses are $69,556 for a $81,644 NOI. Cap is 5.6%. See the proforma in the Assoc Docs for all of the financial details. Tenant rights apply, please allow 48 hours for notice.

Primary Features

County: Johnson
Property Sub Type: Multi-Family
Property Type: Multi-Family
Subdivision: Manville Heights Addition
Year Built: 1938
Zoning: RNS 20


Number of Fireplaces: 1
SqFt Above: 9756
Unit 1 Bedrooms: 1
Unit 1 Dining Room: no
Unit 1 Full Baths: 1
Unit 1 Living Room: yes
Unit 1 Number: 3
Unit 2 Bedrooms: 1
Unit 2 Dining Room: no
Unit 2 Full Baths: 1
Unit 2 Living Room: yes
Unit 2 Number: 11
Unit 3 Bedrooms: 1
Unit 3 Dining Room: no
Unit 3 Full Baths: 1
Unit 3 Living Room: yes
Unit 3 Number: 12
Unit 4 Bedrooms: 1
Unit 4 Dining Room: no
Unit 4 Full Baths: 1
Unit 4 Living Room: yes
Unit 4 Number: 32


Lot Dimensions: Irregular


Area: Iowa City
Elementary School: Lincoln
Geo Address Line: 340 Ellis Ave
High School: City
Junior/Middle School: Southeast


Addendum: Contact listing agents to schedule a showing. ShowingTime will be enabled soon.
Aging in Place Form: No
Associated Document Count: 3
Days on Market: 13
Elevators: No
Internet: yes
New Construction: no
Rental Permit: yes
Status Category: Active
Units Total: 16
Zero Step Entry: No


Annual Gross Expense: 69556
Annual Gross Income: 151200
Electric Annually: 600
Gas Annually: 600
Gross Tax (County & City): 24720
Insurance Annually: 6260
Maintenance Annually: 5504
Sale/Lease: For Sale
Tax ID: 1009107001
Tax Year Report: 2022
Unit 1 Monthly Rent: 775
Unit 2 Monthly Rent: 775
Unit 3 Monthly Rent: 775
Unit 4 Monthly Rent: 775
Variable Rate: no
Water Annually: 3487

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 202301150

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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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