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    645 S Lucas St Iowa City, IA 52240

    For Sale
    $1,175,000

    Multi Family, Twostories - IA

    Property size:
    8,586 SF
    Days on Market:
    33
    Last Refresh:
    Dec 7 at 7:06 pm

    Property Features for 645 S Lucas St

    General Information

    Property type
    Residential Multi Family
    Standard status
    Active
    Zoning
    RM12
    APN
    1015179009
    Parking features
    Off Street, On Street
    Interior features
    Breakfastbar
    Appliances
    Dishwasher, Oven, Range, Refrigerator, Washer
    Size
    8,586 SF

    Utilities

    Heating system
    Forced Air, Natural Gas
    Cooling system
    Central Air

    Building Details

    Year built
    1990
    Flooring type
    Carpet, Vinyl
    Building materials
    Frame
    Architectural style
    Other

    Lepic-Kroeger, REALTORS (319) 351-8811 [email protected]

    Listing agent Jeff Edberg (319) 351-8811

    Listing date Nov 5, 2025

    MLS# 202506836 Listing URL

    Copyright © 2025 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.

    Overview

    Multi-Family Iowa Investment Property

    This multi-family property in Iowa features eight units, each containing four bedrooms and two bathrooms. The property includes a large concrete parking lot located at the rear of the building. The total rents collected amount to $10,350 for the 2024-2025 term. The property is zoned RM12 and has a total size of 8,586 square feet.
    Property Profile Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Iowa City
    County
    Johnson
    State
    Iowa
    Longitude
    -91.524494
    Latitude
    41.652245

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    FAQs

    What type of property is this?
    Apartment building - 8-unit apartment building with strong rental income potential.
    Where is this apartment building located?
    The property is located at 645 S Lucas St Iowa City, IA.
    What is the asking price?
    The asking price for this property is $1,175,000.
    What are key features of this property?
    This property features: - Strong rental income of $10,350 for the 24-25 term.; - Eight-unit building with desirable 4 bed, 2 bath units.; - Includes essential appliances: Dishwasher, Oven, Range, Refrigerator, and Washer.
    (319) 351-8811
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    Iowa City, IA 52240
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    645 S Lucas St Iowa City, IA 52240
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