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    2427 Petsel

    Iowa City, IA 52246
    • $538,000
    • STATUS: Closed
    • ON SITE: 54 days
    • MLS #: 202101189
    Sold - 04/19/2021
    $538,000
    SOLD - 04/19/2021
    • 0
      BEDS
    • N/A
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1981
    County:
    Area:

    School Information

    Elementary School:
    Middle School:
    High School:

    Description

    3 br / 1.5 ba fourplex on Petsel Place for sale at a 6.5 Cap Rate. Annual income is $63,466, expenses are $25,942 leaving an NOI of $37,524. The current owner is flexible in his leasing terms & used a tenant matching service that helps fill in vacant bedrooms when necessary. The building is well maintained with new HVAC in 2019, new roof in 2018 and all units remodeled from original condition. Utilities are paid by tenants in units 1 & 3, units 2 & 4 pay any utilities over $160 per month.

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    © 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. Data last updated: 2021-04-21T15:25:46.757
    www.gwenjohnson.com/homes/114525057
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    2427 Petsel Iowa City, IA 52246

    • Price: $575,000
    • Status: Closed
    • Updated: 31 min ago
    • MLS #: 202101189
    0
    Beds
    0
    Baths
    0
    ½ Baths
    N/A
    Acres
    1981
    Built
    Neighborhood:
    Hawkeye Heights
    County:
    Johnson
    Area:
    Iowa City
    Elementary School:
    Borlaug
    Middle School:
    Northwest
    High School:
    West
    Property Description
    3 br / 1.5 ba fourplex on Petsel Place for sale at a 6.5 Cap Rate. Annual income is $63,466, expenses are $25,942 leaving an NOI of $37,524. The current owner is flexible in his leasing terms & used a tenant matching service that helps fill in vacant bedrooms when necessary. The building is well maintained with new HVAC in 2019, new roof in 2018 and all units remodeled from original condition. Utilities are paid by tenants in units 1 & 3, units 2 & 4 pay any utilities over $160 per month.
    Exterior Features

    Construction Brick Frame Parking Off Street

    Interior Features

    Appliances Unit1 DishwasherRange/OvenRefrigeratorSmoke/Fire Alarm Appliances Unit2 DishwasherRange/OvenRefrigeratorSmoke/Fire Alarm Appliances Unit3 DishwasherRange/OvenRefrigeratorSmoke/Fire Alarm Appliances Unit4 DishwasherRange/OvenRefrigeratorSmoke/Fire Alarm Basement Finished RoomsFullOther Cooling Central Elevators No Energy Related Water Heater-Gas Heating GasForced Air Laundry Hookups In Unit Number Fireplaces 0 Unit1 Number Full Baths 1 Unit1 Number Half Baths 1 Unit1 Number34 Baths 0 Unit1 Numberbedrooms 3 Unit2 Number Full Baths 1 Unit2 Number Half Baths 1 Unit2 Number34 Baths 0 Unit2 Numberbedrooms 3 Unit3 Number Full Baths 1 Unit3 Number Half Baths 1 Unit3 Number34 Baths 0 Unit3 Numberbedrooms 3 Unit4 Number Full Baths 1 Unit4 Number Half Baths 1 Unit4 Number34 Baths 0 Unit4 Numberbedrooms 3

    Property Features

    Amenities SidewalksUndergroundClose To SchoolClose To Shopping Annual Assoc Fee 0 Annual Gross Expense 25942 Annual Gross Income 63466 Bank Owned NO Electric Annually 0 Fee Includes None Gas Annually 0 Gross Taxcounty And City 11471.66 Insurance Annually 3360 Internet Yes Lease Term Unit1 Years Lease Term Unit2 Years Lease Term Unit3 Years Lease Term Unit4 Years Lease Value 0 Lot Dimensions Irregular Maintenance Annually 2400 New Construction No Possible Finance CashConventional Rental Permit Yes Sale Lease For Sale Sqft Above 844 Sqft Lower 422 Type Multi-Family Type Multi Family MultilevelFourplex Unit1 Dining Room No Unit1 Living Room Yes Unit1 Monthly Rent 1300 Unit2 Dining Room No Unit2 Living Room Yes Unit2 Monthly Rent 1450 Unit3 Dining Room No Unit3 Living Room Yes Unit3 Monthly Rent 950 Unit4 Dining Room No Unit4 Living Room Yes Unit4 Monthly Rent 1470 Utilities Available Cable Paid By Ind.Electricity Ind. MetersGarbage in RentGas Ind. MetersWater Ind. Meters Water Annually 0 Water Sewer City Water Zoning Rm12

    Listing information © 2021 Iowa City Area Association of Realtors.
    Listing provided courtesy of Jeff Edberg 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. Data last updated: 2021-04-21T15:25:46.757
     
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