704/706 Bowery Street

Description

This income investment property located in downtown Iowa City presents a valuable opportunity for potential buyers looking to expand their real estate portfolio. The property, situated on a corner lot with close proximity to a bus stop, offers convenience and desirability. Featuring two units, each comprising 3 bedrooms and 1.5 bathrooms, this property provides flexible options for rental income. The kitchens come equipped with some appliances, offering functionality and convenience for the occupants. Notable updates include LVP flooring throughout both units and both water heaters have been recently replaced, with one updated in 2021 and the other in 2024. Convenience is further enhanced by the presence of a parking pad for each unit, providing off-street parking solutions for residents or tenants. Take advantage of this chance to own a property with dual rental units that can offer steady income and long-term benefits in a sought-after location. Tenant pays utilities. Verify schools. Current active rental permit. 704 has lease through July of 2025 and deposit will transfer to buyer at closing. Show 706. Landlord mows. Tenant takes care of snow removal. Verify square footage. RSVD: Washer/Dryer in 704. Air-conditioner will need replaced at 706. Please allow 24 hour response time on all offers.