Three-Building Apartment
732 736 740 Michael St. Iowa City, IA 52246
732 736 740 Michael St., Iowa City, IA, 52246
$3,650,000
For Sale
$3,650,000
MULTI_FAMILY - IowaCity, IA
Days on Market290
Property Features for 732 736 740 Michael St.
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- COMM
- Bathrooms
- 2
- Rooms
- Bathroom 1, Bathroom 3, Bathroom 4, Bathroom 2
- Parking
- 4
- Parking features
- Off Street
- Appliances
- RangeOrOven, Refrigerator
- Standard status
- Active
- APN
- 1016184003
Taxes and HOA fees
- Tax Year
- 2023
- Tax Annual Amount
- 49362
Utilities
- Heating system
- Baseboard, Steam
- Cooling system
- Window Unit(s)
Building Details
- Year built
- 1971
- Building materials
- Vinyl, Frame
Listing Agency
Lepic-Kroeger, REALTORS
(319) 351-8811
2346 MORMON TREK BLVD SUITE #2000, Iowa City, IA
Listed by
Matthew Lepic · License #B45389000
(319) 321-7199
Added: Oct 1, 2025 Checked: Jul 17 at 1:06 am
MLS# 202506132
Listing URL
Copyright © 2026 Iowa City Area Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This for-sale multifamily offering consists of three separate buildings totaling 42 apartment units, with 14 units per building. The unit mix includes 36 one-bedroom, one-bath apartments and 6 studio units. The property has benefited from capital and interior updates, including roof replacement in 2018 and improvements such as new carpet, updated kitchens, and new tubs in many units.
The buildings are located near UIHC and the West University of Iowa campus, with Kinnick Stadium within walking distance. The property’s setting supports a tenant base that is closely connected to the university and medical area.
For buyers seeking a stabilized apartment portfolio with a defined unit mix, the combination of studio and one-bedroom layouts provides flexibility for prospective tenants. Recent exterior work and multiple unit improvements may help reduce near-term deferred maintenance, while the described transition of tenants to RUBS utility payment terms may simplify ongoing operating administration for incoming ownership.
The buildings are located near UIHC and the West University of Iowa campus, with Kinnick Stadium within walking distance. The property’s setting supports a tenant base that is closely connected to the university and medical area.
For buyers seeking a stabilized apartment portfolio with a defined unit mix, the combination of studio and one-bedroom layouts provides flexibility for prospective tenants. Recent exterior work and multiple unit improvements may help reduce near-term deferred maintenance, while the described transition of tenants to RUBS utility payment terms may simplify ongoing operating administration for incoming ownership.
Key Highlights
- 42 multifamily units across 3 buildings (14 units per building)
- Unit mix includes 36 one‑bedroom, 1‑bath units and 6 studio units
- Roofs replaced in 2018; many units have had updates including new carpet, updated kitchens, and new tubs
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - For sale three-building multifamily property with 42 units, including studios and one-bedrooms, and recent roof replacement.
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: 42 multifamily units across 3 buildings (14 units per building); Unit mix includes 36 one‑bedroom, 1‑bath units and 6 studio units; Roofs replaced in 2018; many units have had updates including new carpet, updated kitchens, and new tubs
