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    716 N Dubuque St Iowa City, IA 52245

    For Sale
    $2,300,000

    Multi Family - Iowa City, IA

    Property size:
    5,626 SF
    Days on Market:
    311
    Last Refresh:
    Dec 7 at 5:06 am

    Property Features for 716 N Dubuque St

    General Information

    Property type
    Residential Multi Family
    Standard status
    Active
    Zoning
    RM-44
    APN
    1010204007
    Parking features
    Off Street
    Size
    5,626 SF

    Utilities

    Heating system
    Steam

    Building Details

    Year built
    1925
    Building materials
    Brick
    Architectural style
    Other

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

    Listing agent Tyler Riddle (319) 351-8811

    Listing date Jan 31, 2025

    MLS# 202500734 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

    Iowa City Multifamily Investment Opportunity

    This multifamily property in Iowa City, Iowa, presents a rare investment opportunity. The property is a 21-room boarding house currently leased to a fraternity through their grand chapter. The tenant is responsible for all maintenance, with the exception of the boiler and roof. The boiler was replaced in December 2024. The owner is responsible for up to $1,100 in utility expenses, unless the property is fully occupied, which it currently is. There are 6 years remaining on the 10-year lease agreement. The tenants have the option to renew for another 5 years at an increased rent rate of $16,500, with the decision required by year 7. Updates completed in 2016 include the installation of a Brava 50-year roof tile, new windows, a new sprinkler system, and new doors and trim. The property is zoned RM-44 and has a size of 5,626 square feet.
    Property Profile Location Intelligence

    Current Use by Public Records

    Alpha Sigma Phi Fraternal Organization

    Suggested Use

    Realty agency Law Firm Spa & Massage Restaurant 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
    -91.532654
    Latitude
    41.669524

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    FAQs

    What type of property is this?
    Apartment building - 21-room boarding house leased to a fraternity with long-term lease.
    Where is this apartment building located?
    The property is located at 716 N Dubuque St Iowa City, IA.
    What is the asking price?
    The asking price for this property is $2,300,000.
    What are key features of this property?
    This property features: - Tenant handles most maintenance, reducing owner workload, excluding boiler and roof.; - Leased to a fraternity with backing from the grand chapter, ensuring a reliable tenant.; - New boiler installed in December 2024.
    (319) 351-8811
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    Iowa City, IA 52245
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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
    716 N Dubuque St Iowa City, IA 52245
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