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1012,1014 Summit Street , Iowa City, IA 52240

Price: $1,250,000.00

Property

Subtype: Multi-Family

Area: Iowa City/Coralville

Lot Size: 0

Acres: 1.4800

Year Built: 1962

Zoning: R12

Gross Tax: 28,652

County: Johnson

Utilities

Heating: Central Air,Central Heat,Forced Air,Gas Heat,Window/Wall Air

Cooling: Central Air,Central Heat,Forced Air,Gas Heat,Window/Wall Air

Building

Total Building Sq Ft: 10,350

Lease Terms

Tenant Pays: Electricity, Gas

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.

Listing Agent: Matthew Lepic Office: LEPIC-KROEGER, REALTORS Data courtesy of Cedar Rapids Area Association of Realtors MLS