42-Unit Apartment
For Sale
$3,650,000
732 736 740 Michael St., Iowa City, IA 52246
Residential, IowaCity, IA
Property SizeContact for details
Days on Market329
Property Features for 732 736 740 Michael St.
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
COMM
Bathrooms
2
Full bathrooms
4
Rooms
Bathroom 1, Bathroom 4, Bathroom 3, Bathroom 2
Parking
4
Parking features
Off Street
Appliances
RangeOrOven, Refrigerator
Subdivision
School Commissioners Sub
Elementary school
Horn
Middle school
Northwest
Directions
W. Benton St. to Michael St.
Standard status
Active
APN
1016184003
Taxes and HOA fees
Tax Year
2023
Tax Annual Amount
49362
Utilities
Heating system
Steam, Baseboard
Cooling system
Window Unit(s)
Building Details
Year built
1971
Building materials
Vinyl, Frame
Listing Agency:
Lepic-Kroeger, REALTORS
(319) 351-8811
Listed By:
Matthew Lepic · License #B45389000
(319) 321-7199
Added: Oct 1, 2025
Changed: Aug 19
Last Checked: Aug 25 at 8:06PM
MLS# 202506132
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 multifamily offering comprises 42 units across three apartment buildings, with 14 units in each building. The unit mix includes 36 one-bedroom, one-bath apartments and six studios. Interior improvements include new carpet, updated kitchens, and new tubs in many units, while the roofs were replaced in 2018. Apartments include ranges or ovens, refrigerators, steam or baseboard heating, and window-unit cooling. The buildings were constructed in 1971 and provide off-street parking.
The property is located near UIHC and the West University of Iowa campus, with Kinnick Stadium within walking distance. Zoning is COMM. Tenants are transitioning to RUBS for utility payments as they enter new lease terms.
The property is located near UIHC and the West University of Iowa campus, with Kinnick Stadium within walking distance. Zoning is COMM. Tenants are transitioning to RUBS for utility payments as they enter new lease terms.
Key Highlights
- 42 units across 3 buildings, with 14 units per building
- Unit mix includes 36 one‑bedroom, one‑bath units and 6 studios
- Roofs replaced in 2018
Property Analytics
Property Profile
Current Use
Lease Details
42
Residential units
Location Intelligence
Trade Area within ½ mile
3,513
Businesses Nearby
Explore this area
Business Placement
Demographics for 52246, IA
22,829
Population
10,627
Households
2.1
Avg Household Size
29
Median Age
67%
College-Educated
95%
High-School Grad
16.7 sq mi
ZIP Area
1,367
Density / Sq Mi
$55,088
Median Household Income
$28,598
Median Earnings
$1,049
Median Rent
$327,100
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Three-building multifamily property with updated interiors, off-street parking, and proximity to major university-related destinations.
Where is this apartment building located?
The property is located at 732 736 740 Michael St. Iowa City, IA.
What is the asking price?
The asking price for this property is $3,650,000.
What are key features of this property?
This property features: 42 units across 3 buildings, with 14 units per building; Unit mix includes 36 one‑bedroom, one‑bath units and 6 studios; Roofs replaced in 2018
