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    Multifamily Investment Property Near Campus Title is generated by Realmo AI

    732 736 740 Michael St, Iowa City, IA 52246

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    Three buildings with 42 units near UIHC and Kinnick Stadium.

    Type:Multifamily
    Property size:
    16,128 SF
    Price / SF:
    $232/SF
    Added:
    Oct 15, 2024
    Days on Market:
    581
    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

    HighLights

    • 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.
    • Rents have steadily increased.
    • Various unit improvements: new carpet, updated kitchens, and new tubs in many units.
    • Tenants transitioning to RUBS for utility payments.

    Overview

    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.
    Property Profile Insight Report 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

    • Map
    • 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.
    (319) 321-7199 Call to check price and availability
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