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1559 Ponds Edge Ct # 1672

North Liberty, IA 52317
  • $3,500,000
  • STATUS: Active
  • ON SITE: 137 Days
  • MLS #: 202305494
$3,500,000
  • 0
    BEDS
  • N/A
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
2003
County:
Area:

School Information

Elementary School:
Middle School:
High School:

Description

Perfect investment for a builder or developer. The property for sale is 9 condominium rental homes and 27 undeveloped condo lots. Two condo buildings are built and there is a potential to build four more condo buildings. Existing condo units rent at approximately $2,000/month, see attached Proforma and Rent Roll. Approximately $2,250,000 for the 9 condo units ($250,000/unit) and $1,250,000 for the 27 condo lots ($46,300/lot). To be sold as a package. Brochure attached. SOC is •2.50% up the the first $1 million. •2.25% from $1 million to $2 million. •2.0% on anything above $2 million.

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© 2024 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: 2024-03-05T00:25:42.967
www.gwenjohnson.com/homes/144535121
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1559 Ponds Edge Ct # 1672 North Liberty, IA 52317

  • Price: $3,500,000
  • Status: Active
  • On Site: 137 Days
  • MLS #: 202305494
0
Beds
0
Baths
0
½ Baths
N/A
Acres
2003
Built
Neighborhood:
Nl Ponds Edge
County:
Johnson
Area:
Nw Quadrant
Elementary School:
Clear Creek
Middle School:
Clear Creek
High School:
Clear Creek
Property Description
Perfect investment for a builder or developer. The property for sale is 9 condominium rental homes and 27 undeveloped condo lots. Two condo buildings are built and there is a potential to build four more condo buildings. Existing condo units rent at approximately $2,000/month, see attached Proforma and Rent Roll. Approximately $2,250,000 for the 9 condo units ($250,000/unit) and $1,250,000 for the 27 condo lots ($46,300/lot). To be sold as a package. Brochure attached. SOC is •2.50% up the the first $1 million. •2.25% from $1 million to $2 million. •2.0% on anything above $2 million.
Exterior Features

Construction Materials OtherUnknown Lot Features TwoToFiveAcres Lot Size Dimensions 4.0 Open Parking Spaces 2 Parking Features None

Interior Features

Above Grade Finished Area 0 Appliances DishwasherRangeOrOvenRefrigeratorMicrowave Basement SeeRemarks Below Grade Finished Area 0 Cooling CentralAir Fireplaces Total 0 Green Indoor Air Quality CarbonMonoxideDetecors Interior Features Other Laundry Features Other

Property Features

Association Fee Includes OtherNone Association Fee Text tbd Auction Online Bid YN No Community Features StreetLights Compensation Remarks 2.50* Electric Expense 0 Expiration Date 2024-10-18 Gas Annually 0 Green Verification YN No Gross Income 216000 Insurance Expense 5100 Listing Terms Exchange1031CashConventional Maintenance Expense 9000 New Construction YN No Operating Expense 65698 Possession Other Property Sub Type MultiFamily Renting Allowed YN Yes Tax Annual Amount 30870 Tax Year 2021 Utilities CitySewerCityWater Water Sewer Expense 0 Zoning RM-8

Listing information © 2024 Iowa City Area Association of Realtors.
Listing provided courtesy of Mark Lynch of Skogman Realty Co.: 319-625-6427.



© 2024 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: 2024-03-05T00:25:42.967
 
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The Johnson Team | Skogman Realty
2530 Corridor Way
Coralville IA, 52241