$7,350,000
bedrooms
0
bathrooms
0
square feet
2,484
Acreage
-
Open Houses
-
year built
1962
Full Baths
0
Half Baths
0
This is a 100-unit cooperative project with all units leased out. 66 are one bedroom with 575 SF and 34 are two bedroom with 800 SF. The building is a quadrangle style with grassy area in the middle. Annual income is $966,180, expenses are 50% at $483,083 and NOI is $483,097 giving a 6.6% CAP Rate. There are separate laundry rooms for extra income and two basement areas with storage units for the tenants. The parcel is 3.765 acres and has approximately 100 parking spaces and bus service nearby. Close to banking, shopping, schools and parks. It is also directly across Arthur street from the new Johnson County Neighborhood Center, a daycare and community center that will offer classrooms, computer lab, bikes for loan, playground and a center for community activities. Also, as a cooperative property, each unit could be sold individually.
| Location | |
| Subdivision | - |
| County | Johnson |
| Elementary School | Lucas |
| Middle School | Southeast |
| High School | City |
Open houses
Find out more
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MLS number: 202406039
Listing agent:
Jeff Edberg
Listing broker:
Lepic-Kroeger, Realtors
(319) 351-8811
Copyright © 2025 Iowa City Area Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Last update: Tuesday, January 14 2025 at 11:27 p.m. EST
Kotohomes National