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732 736 740 Michael St Iowa City, IA 52246

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For Sale
$3,750,000

Three buildings with 42 units near UIHC and Kinnick Stadium.

Type:Multifamily
Property size:
16,128 SF
Added:
Oct 15, 2024
Days on Market:
534
Last Refresh:
Mar 17 at 1:13 pm

Property Features for 732 736 740 Michael St

General Information

Standard status
Active
Size
16,128 SF
Property subtype
Multifamily

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Listing Contact
Matthew Lepic
Matthew Lepic

Listing agent Matthew Lepic License #IA B45389000

Listing office Lepic-Kroeger, REALTORS

Listing date Oct 15, 2024

Source Crexi

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

All listing content including descriptions, pricing, images are the copyrighted material of Lepic-Kroeger, REALTORS


Overview

Multifamily Investment Property Near Campus

This multifamily property features 42 units across three buildings, each containing 14 units. The unit mix includes 36 one-bedroom, one-bath units and 6 studio units. The property has undergone several renovations, including roof replacements in 2018. Many units feature new carpeting, updated kitchens, and new bathtubs. The property is located near the University of Iowa Hospitals & Clinics (UIHC) and the West University of Iowa campus, and is within walking distance of Kinnick Stadium. The total property size is 16128 square feet. Rents have shown a pattern of steady increases. Tenants are transitioning to a Ratio Utility Billing System (RUBS) for utility payments as they enter new lease terms.
Location Intelligence

Current Use by Public Records

Apartment buildings

Suggested Use

Real Estate Agency Law Firm Spa & Massage Center Restaurant Hair Salon Nail Salon Building Supply Dental Office Gym & Fitness Center Accounting Firm

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

Location Insight

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  • Local Demand
City
Iowa City
County
Johnson
State
Iowa
Longitude
-91.5446427
Latitude
41.6514839

FAQs

What type of property is this?
Apartment building - Three buildings with 42 units near UIHC and Kinnick Stadium.
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 $3,750,000.
What are key features of this property?
This property features: Conveniently located near UIHC, West University of Iowa campus, and Kinnick Stadium.; 42 multifamily units (36 one‑bedroom, one‑bath and 6 studio units).; Roofs replaced in 2018.
More about this property
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