Duplex with Attached
New
For Sale
$259,900
Pending
1838 & 1840 Hollywood Ct, Iowa City, IA 52240
Two separate residences each include in-unit laundry, with tenants responsible for utilities and snow removal.
Property Size1,608 SF
Days on Market7
Property Features for 1838 & 1840 Hollywood Ct
General Information
Standard status
Pending
Size
1,608 SF
Total Parking Spaces
1
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Amenities
in-unit laundry
Building Details
Year Built
1983
Buildings
1
Listing Agency:
Skogman Realty Co
(319) 363-8286
Listed By:
Matt Smith Team
(319) 431-5859
Source:
Mattsmithteam
Added: Oct 9
Changed: Oct 13
Last Checked: Oct 14 at 10:38PM
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 Skogman Realty Co
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Investment Insights
Based on property information with market context.
Built in 1983, this duplex contains two units totaling 1,608 square feet. Each residence has its own laundry, and a one-car attached garage serves the property.
Tenants cover all utilities and handle snow removal. Lawn care is paid for by the landlord. Showings require at least 24 hours’ notice.
Tenants cover all utilities and handle snow removal. Lawn care is paid for by the landlord. Showings require at least 24 hours’ notice.
Key Highlights
- Two‑unit duplex totaling 1,608 square feet
- Each unit has its own laundry
- One‑car attached garage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,834
Cap Rate
5.71%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$296,680
$296.7K
Cap Rate 7%
$211,914
$211.9K
Cap Rate 9%
$164,822
$164.8K
Market Conditions
NOI Build-Up for 1,608 SF
Gross rent
$22.2K $13.80/SF
− Vacancy
−$999 −$0.62/SF
EGI
$21.2K $13.18/SF
− OpEx
−$6.4K −$3.95/SF
NOI
$14.8K $9.23/SF
Area
Johnson County, IA
Vacancy
4.50%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$296,680
Cap Rate 7%
$211,914
Cap Rate 9%
$164,822
Alternative Uses
Best Use
Multifamily LT 5
$211.9K
$185.4K – $247.2K
NOI $14,834 @ 7.0% cap · market cap 5.71%
Second Best
Apartment 5plus
$196.5K
$171.9K – $229.2K
NOI $13,754 @ 7.0% cap · market cap 5.29%
Theoretical Best
Office A
$349.3K
$305.7K – $407.5K
NOI $24,452 @ 7.0% cap · market cap 9.41%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
518
Businesses Nearby
Explore this area
Business Placement
Demographics for 52240, IA
34,224
Population
17,035
Households
2
Avg Household Size
29
Median Age
47%
College-Educated
94%
High-School Grad
142.1 sq mi
ZIP Area
241
Density / Sq Mi
$55,189
Median Household Income
$25,508
Median Earnings
$1,065
Median Rent
$241,100
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Two separate residences each include in-unit laundry, with tenants responsible for utilities and snow removal.
Where is this duplex located?
The property is located at 1838 & 1840 Hollywood Ct Iowa City, IA.
What is the asking price?
The asking price for this property is $259,900.
What are key features of this property?
This property features: Two‑unit duplex totaling 1,608 square feet; Each unit has its own laundry; One‑car attached garage
