Eight-Unit Multifamily
230 S Dubuque St. Solon, IA 52333
For Sale
$750,000
MULTI_FAMILY - Other - Solon, IA
Property Size6,400 SF
Price / SF$117.19
Days on Market207
Property Features for 230 S Dubuque St.
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
MULTI
Bathrooms
1
Rooms
Bathroom 2, Bathroom 4, Bathroom 1, Bathroom 3
Parking
4
Parking features
Off Street, On Street
Interior features
CableAvailable, RearStairs
Appliances
Dishwasher, Microwave, RangeOrOven, Refrigerator
Standard status
Active
APN
0224377002
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
6178
Utilities
Heating system
Natural Gas, Electric (Heating), Forced Air
Cooling system
Central Air
Building Details
Year built
1908
Flooring type
Tile, Vinyl, Carpet
Building materials
Brick, ConcreteBlocks, Frame
Architectural style
Other
Listing Agency:
Lepic-Kroeger, REALTORS
(319) 351-8811
Listed By:
Matthew Lepic · License #B45389000
(319) 321-7199
Added: Jan 3
Changed: Jun 30
Last Checked: Jul 29 at 1:06AM
MLS# 202600035
Copyright © 2026 Iowa City Area Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This eight-unit multifamily building is configured with four units on the main floor and four units on the second floor. Each unit features two bedrooms and one bathroom, and the property is described as spanning about 800 square feet per unit. The ownership has completed improvements across the asset, including fully remodeled interiors in three units, while the remaining units are described as in great condition. The roof was fully replaced in 2020, including the brick veneer, and the exterior was freshly painted in 2025.
The property is located at 230 S Dubuque St. in Solon, Iowa, and is listed under MULTI zoning. Prospective buyers should plan for scheduling requirements, as showings require 48 hours’ notice and preapproval is required to set up any showing.
For buyers seeking a straightforward, multi-unit residential income property, this layout offers consistent unit mix across two levels with two-bedroom floorplans. The combination of three fully remodeled units and the remaining units described as being in great condition may help support an operator’s day-to-day leasing and maintenance planning, while the recent exterior and roof work addresses major building exterior components.
The property is located at 230 S Dubuque St. in Solon, Iowa, and is listed under MULTI zoning. Prospective buyers should plan for scheduling requirements, as showings require 48 hours’ notice and preapproval is required to set up any showing.
For buyers seeking a straightforward, multi-unit residential income property, this layout offers consistent unit mix across two levels with two-bedroom floorplans. The combination of three fully remodeled units and the remaining units described as being in great condition may help support an operator’s day-to-day leasing and maintenance planning, while the recent exterior and roof work addresses major building exterior components.
Key Highlights
- 8‑plex in Solon with four units on the main floor and four units on the second floor
- Each unit offers 2 bedrooms and 1 bathroom, and the building spans 800 sq ft
- Roof fully replaced in 2020, including the brick veneer; exterior freshly painted in 2025
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $103.7k | $16.20 |
| − Vacancy | −$4.1k | −$0.65 |
| EGI | $99.5k | $15.55 |
| − OpEx | −$44.8k | −$7.00 |
| NOI | $54.7k | $8.55 |
6,400 SF · lease $16.20/SF/yr · vacancy 4.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$782.0K
$684.3K – $912.4K
NOI $54,743 @ 7.0% cap · market cap 7.30%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.39M
$1.22M – $1.62M
NOI $97,321 @ 7.0% cap · market cap 12.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Apartment building - Two-bedroom units in an eight-plex with a roof replacement in 2020 and exterior painting completed in 2025.
Where is this apartment building located?
The property is located at 230 S Dubuque St. Solon, IA.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: 8‑plex in Solon with four units on the main floor and four units on the second floor; Each unit offers 2 bedrooms and 1 bathroom, and the building spans 800 sq ft; Roof fully replaced in 2020, including the brick veneer; exterior freshly painted in 2025
