2-Unit
For Sale
$289,900
Pending
1841 & 1843 Hollywood Ct, Iowa City, IA 52240
Each residence has its own laundry, and tenants handle utilities and snow removal.
Property Size2,606 SF
Days on Market8
Property Features for 1841 & 1843 Hollywood Ct
General Information
Standard status
Pending
Size
2,606 SF
Total Parking Spaces
1
Property subtype
Multi-Family
Occupancy
100%
Additional Details
Multifamily Units
2
Amenities
in-unit laundry
Building Details
Year Built
1983
Buildings
1
Tenancy
Multi
Listing Agency:
Skogman Realty Co
(319) 363-8286
Listed By:
Matt Smith Team
(319) 431-5859
Source:
Mattsmithteam
Added: Oct 9
Changed: Oct 10
Last Checked: Oct 14 at 11:23PM
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 2,606-square-foot duplex has two residences, each with its own laundry. The property also includes a one-car attached garage.
Tenants pay utilities and manage snow removal, while lawn care is handled by the landlord.
Tenants pay utilities and manage snow removal, while lawn care is handled by the landlord.
Key Highlights
- 2,606‑square‑foot duplex built in 1983
- Two residences, each with its own laundry
- One‑car attached garage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,041
Cap Rate
8.29%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$480,820
$480.8K
Cap Rate 7%
$343,443
$343.4K
Cap Rate 9%
$267,122
$267.1K
Market Conditions
NOI Build-Up for 2,606 SF
Gross rent
$36.0K $13.80/SF
− Vacancy
−$1.6K −$0.62/SF
EGI
$34.3K $13.18/SF
− OpEx
−$10.3K −$3.95/SF
NOI
$24.0K $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%
$480,820
Cap Rate 7%
$343,443
Cap Rate 9%
$267,122
Alternative Uses
Best Use
Multifamily LT 5
$343.4K
$300.5K – $400.7K
NOI $24,041 @ 7.0% cap · market cap 8.29%
Second Best
Apartment 5plus
$318.4K
$278.6K – $371.5K
NOI $22,291 @ 7.0% cap · market cap 7.69%
Theoretical Best
Office A
$566.1K
$495.4K – $660.5K
NOI $39,628 @ 7.0% cap · market cap 13.67%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Each residence has its own laundry, and tenants handle utilities and snow removal.
Where is this duplex located?
The property is located at 1841 & 1843 Hollywood Ct Iowa City, IA.
What is the asking price?
The asking price for this property is $289,900.
What are key features of this property?
This property features: 2,606‑square‑foot duplex built in 1983; Two residences, each with its own laundry; One‑car attached garage
