Skip To Content

1012,1014 N Summit St.

Iowa City, IA 52240
  • $965,000
  • STATUS: Closed
  • ON SITE: 234 Days
  • MLS #: 202102292
Sold - 12/01/2021
$965,000
SOLD - 12/01/2021
  • 0
    BEDS
  • N/A
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1962
County:
Area:

School Information

Elementary School:
Middle School:
High School:

Description

Amazing opportunity to purchase Multi Family Property in Iowa City with additional development potential. 3 Parcels totaling 1.48 Acres. 15 Rental Units, almost all updated. Land is zoned R12 so there is a potential of adding 9 more units on these parcels. Units include 1 6 plex, 2 duplex's, 1 Triplex and 2 Cottages. All rents can be improved with the improvements already made. 2 other parcels listed separately adjacent to the property could add an additional potential of 30 more units. Concepts for additional buildings can be provided. Proforma numbers with rents when units are finished are available as well.

Monthly Payment Calculator



© 2021 Iowa City Area Association of Realtors. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or The Johnson Team | Skogman Realty. Data last updated: 2021-12-06T20:25:35.163
www.gwenjohnson.com/homes/116160904
Print Image

1012,1014 N Summit St. Iowa City, IA 52240

  • Price: $1,250,000
  • Status: Closed
  • On Site: 234 Days
  • Updated: 59 min ago
  • MLS #: 202102292
0
Beds
0
Baths
0
½ Baths
N/A
Acres
1962
Built
Neighborhood:
St. Matthias 2nd
County:
Johnson
Area:
Iowa City
Elementary School:
Mann
Middle School:
Southeast
High School:
City
Property Description
Amazing opportunity to purchase Multi Family Property in Iowa City with additional development potential. 3 Parcels totaling 1.48 Acres. 15 Rental Units, almost all updated. Land is zoned R12 so there is a potential of adding 9 more units on these parcels. Units include 1 6 plex, 2 duplex's, 1 Triplex and 2 Cottages. All rents can be improved with the improvements already made. 2 other parcels listed separately adjacent to the property could add an additional potential of 30 more units. Concepts for additional buildings can be provided. Proforma numbers with rents when units are finished are available as well.
Exterior Features

Construction Frame

Interior Features

Appliances Range/OvenRefrigerator Basement Full Cooling Ceiling FansWindow/Wall UnitsGasCentralForced Air Number Fireplaces 0 Unit1 Number Full Baths 2 Unit1 Number Half Baths 0 Unit1 Number34 Baths 0 Unit1 Numberbedrooms 2 Unit2 Number Full Baths 5 Unit2 Number Half Baths 0 Unit2 Number34 Baths 0 Unit2 Numberbedrooms 5 Unit3 Number Full Baths 6 Unit3 Number Half Baths 0 Unit3 Number34 Baths 0 Unit3 Numberbedrooms 9 Unit4 Number Full Baths 2 Unit4 Number Half Baths 0 Unit4 Number34 Baths 0 Unit4 Numberbedrooms 3

Property Features

Amenities SecuritySidewalksStreet LightsOn Bus Line Annual Assoc Fee 0 Annual Gross Expense 52946.97 Annual Gross Income 125460 Bank Owned No Electric Annually 0 Fee Includes None Gas Annually 0 Gross Taxcounty And City 28652 Insurance Annually 0 Internet Yes Lease Value 0 Lot Dimensions 64537.8 Maintenance Annually 0 New Construction No Parking Spaces 4 Or More Cars Possible Finance 1031 ExchangeCashConventional Rental Permit Yes Sale Lease For Sale Sqft Above 10350 Sqft Lower 0 Type Multi-Family Unit1 Dining Room Yes Unit1 Living Room Yes Unit1 Monthly Rent 680 Unit2 Dining Room Yes Unit2 Living Room Yes Unit2 Monthly Rent 2405 Unit3 Dining Room Yes Unit3 Living Room Yes Unit3 Monthly Rent 3770 Unit4 Dining Room Yes Unit4 Living Room Yes Unit4 Monthly Rent 650 Water Annually 0 Water Sewer City SewerCity Water Zoning R12

Listing information © 2021 Iowa City Area Association of Realtors.
Listing provided courtesy of Matthew Lepic of Lepic-Kroeger, Realtors.



© 2021 Iowa City Area Association of Realtors. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or The Johnson Team | Skogman Realty. Data last updated: 2021-12-06T20:25:35.163
 
https://bt-photos.global.ssl.fastly.net/iowacity/orig_boomver_2_202102292-2.jpg https://bt-photos.global.ssl.fastly.net/iowacity/orig_boomver_2_202102292-2.jpg https://bt-photos.global.ssl.fastly.net/iowacity/orig_boomver_2_202102292-2.jpg
Logo
The Johnson Team | Skogman Realty
2530 Corridor Way
Coralville IA, 52241