Multifamily
For Sale
Contact for pricing
521 E COLLEGE ST, Iowa City, IA 52240
Eight-bedroom residence near the University of Iowa campus and downtown Iowa City.
Property Size3,240 SF
Lot Size0.17 Acres
Price / SF$236.11
Days on Market15
Property Features for 521 E COLLEGE ST
General Information
Standard status
Active
Size
3,240 SF
Lot size
0.17 Acres
Property subtype
Multifamily
Building Details
Year Built
1890
Buildings
1
Stories
2
Units
1
Listing Agency:
WSG CRE
(319) 343-5542
Listed By:
Tiffany Earl Williams · License #IA s41864000
Source:
Crexi
Added: Jul 22
Changed: Aug 3
Last Checked: Aug 3 at 4:27AM
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 WSG CRE
Investment Insights
Based on property information with market context.
This multifamily residence includes 8 bedrooms and 4 bathrooms within 3,240 square feet. Built in 1890, the property occupies a 0.172-acre lot and is configured as a single residential structure.
The home is located near the University of Iowa campus and downtown Iowa City, with access to University of Iowa Health Care, downtown amenities, and major employment centers. Its location places the property within an established Iowa City rental market.
The offering carries a 6.92% cap rate and provides a substantial bedroom count for the local housing market.
The home is located near the University of Iowa campus and downtown Iowa City, with access to University of Iowa Health Care, downtown amenities, and major employment centers. Its location places the property within an established Iowa City rental market.
The offering carries a 6.92% cap rate and provides a substantial bedroom count for the local housing market.
Key Highlights
- 8‑bedroom, 4‑bath residence
- 3,240 square feet on a 0.172‑acre lot
- Constructed in 1890
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $52.5k | $16.20 |
| − Vacancy | −$2.1k | −$0.65 |
| EGI | $50.4k | $15.55 |
| − OpEx | −$22.7k | −$7.00 |
| NOI | $27.7k | $8.55 |
3,240 SF · lease $16.20/SF/yr · vacancy 4.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$395.9K
$346.4K – $461.9K
NOI $27,714 @ 7.0% cap · market cap 3.62%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$703.8K
$615.9K – $821.2K
NOI $49,269 @ 7.0% cap · market cap 6.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,614
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
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - Eight-bedroom residence near the University of Iowa campus and downtown Iowa City.
Where is this multifamily property located?
The property is located at 521 E COLLEGE ST Iowa City, IA.
What is the asking price?
The asking price for this property is $765,000.
What are key features of this property?
This property features: 8‑bedroom, 4‑bath residence; 3,240 square feet on a 0.172‑acre lot; Constructed in 1890
