711 Burlington StIowa City, IA 52240
- Hospitality properties
Property Details for 711 Burlington St
- Property type
- Hospitality properties
- Property subtype
- Multifamily properties
Description
This exceptional 10-unit multifamily property, located at 711 E Burlington St in Iowa City, IA 52240, presents a lucrative investment opportunity. Situated on the University of Iowa campus and in the heart of downtown Iowa City, this three-story building boasts 100% occupancy, offering immediate cash flow. The asking price is $1,350,000, translating to an attractive $135,000 per unit. The property features a mix of studio, one-bedroom, two-bedroom, three-bedroom, and four-bedroom apartments, catering to a diverse student population. Convenient off-street parking is available for residents. An on-site laundry room adds to the property's appeal. Tenants are responsible for all utilities, minimizing owner expenses. All showings require a minimum of 24-hour notice to respect tenant rights. This property is ideally suited for a 1031 exchange. Its prime location, high occupancy rate, and diverse unit mix make it a compelling investment in a thriving college town. The property's strong performance and desirable location ensure a stable and potentially appreciating asset.
Location Insight
- City
- Iowa City
- County
- Johnson
- State
- Iowa
- Latitude
- 41.6575
- Longitude
- -91.5255
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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