Multifamily Income
For Sale
$2,700,000
30-36 N Lucas Street, Iowa City, IA 52246
Residential income property offered for sale at 30-36 N Lucas Street, Iowa City, with an additional inclusion at 803 Jefferson St.
Property Size10,010 SF
Price / SF$269.73
Days on Market106
Property Features for 30-36 N Lucas Street
General Information
Standard status
Active
Size
10,010 SF
Property subtype
Multi-Family
Zoning
Res
Taxes and HOA fees
Annual Taxes
$35,358
Amenities
Partial
Yes
In Unit
Public
0.055
2407
Parking Space(s)
Building Details
Year Built
2010
Listing Agency:
Skogman Realty Co.
(319) 393-0900
Listed By:
Hope Hall
(319) 899-3820
Source:
Pinnaclerealtyia
Added: Jul 20
Changed: Oct 31
Last Checked: Nov 1 at 3:16AM
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.
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This residential income multifamily property is offered for sale as part of a package that also includes 803 Jefferson St. in Iowa City.
The listing covers 30-36 N Lucas Street, Iowa City, IA 52246, with the additional address explicitly included in the offering.
The property is classified as an “other multifamily” residential income asset, with a total size of 10,010 square feet as provided in the listing information.
The listing covers 30-36 N Lucas Street, Iowa City, IA 52246, with the additional address explicitly included in the offering.
The property is classified as an “other multifamily” residential income asset, with a total size of 10,010 square feet as provided in the listing information.
Key Highlights
- Residential income property for sale at 30‑36 N Lucas Street, Iowa City, with an additional inclusion at 803 Jefferson St
- Built in 2010
- Heating and air conditioning included; laundry is in‑unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$85,622
Cap Rate
3.17%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,712,440
$1.7M
Cap Rate 7%
$1,223,171
$1.2M
Cap Rate 9%
$951,356
$951.4K
Market Conditions
NOI Build-Up for 10,010 SF
Gross rent
$162.2K $16.20/SF
− Vacancy
−$6.5K −$0.65/SF
EGI
$155.7K $15.55/SF
− OpEx
−$70.1K −$7.00/SF
NOI
$85.6K $8.55/SF
Area
Johnson County, IA
Vacancy
4.00%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,712,440
Cap Rate 7%
$1,223,171
Cap Rate 9%
$951,356
Alternative Uses
Best Use
Apartment 5plus
$1.22M
$1.07M – $1.43M
NOI $85,622 @ 7.0% cap · market cap 3.17%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.17M
$1.90M – $2.54M
NOI $152,216 @ 7.0% cap · market cap 5.64%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Location Intelligence
Trade Area within ½ mile
2,087
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
Frequently Asked Questions
What type of property is this?
Multifamily property - Residential income property offered for sale at 30-36 N Lucas Street, Iowa City, with an additional inclusion at 803 Jefferson St.
Where is this multifamily property located?
The property is located at 30-36 N Lucas Street Iowa City, IA.
What is the asking price?
The asking price for this property is $2,700,000.
What are key features of this property?
This property features: Residential income property for sale at 30‑36 N Lucas Street, Iowa City, with an additional inclusion at 803 Jefferson St; Built in 2010; Heating and air conditioning included; laundry is in‑unit
