732 736 740 Michael St Iowa City, IA 52246

Listing office Lepic-Kroeger, REALTORS m***@gmail.com Show Phone

Listing date Oct 15, 2024

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Investment Insights

Based on property information with market context.

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.

Key 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.

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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 $3,650,000.

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.