West side Iowa City properties in Mormon Trek Village with strong rental history. Convenient to University of Iowa Hospitals and Clinics, UI, and downtown Iowa City. Easy access to Hwy 218, I-380, and I-80 for surrounding area commute. Units shown are a sampling of the various units. 4 total buildings; 1-12 plex, 1-18 plex, two-4 plexes: 38 total units, 20-3 bedroom units, 18-2 bedroom units, and a 4-car garage rented separately. Gross Income and Expense shown are average past 2 years. Gross Expense includes P-Tax and ins. *No showings until after accepted offer*. FLOOR PLANS ARE CONCEPT ONLY, ACTUAL UNIT LAYOUT WILL VARY, SQUARE FOOTAGE/DIMENSIONS ARE APPROXIMATE AND SHOULD BE VERIFIED BY BUYER.
Well-located west side Iowa City townhouse-style 4-plex with a long history of low vacancy and consistent rental income. The property features functional unit layouts and an opportunity to enhance value over time through cosmetic updates and increased rents. No HOA gives Owner flexibility and control over updates.
42 multifamily units are available, comprising 3 buildings with 14 units each. There are 36 one-bedroom, one-bath units and 6 studio units. The roofs were replaced in 2018, and various improvements have been made to the units, including new carpet, updated kitchens, and new tubs in many of the units. The property is conveniently located near UIHC and the West University of Iowa campus, within walking distance of Kinnick Stadium. Rents have steadily increased. Tenants are transitioning to RUBS for utility payments as they move into their new lease terms.
Iowa City is located in Iowa. Iowa City, Iowa 52246has a population of 74,240. Iowa City 52246 is less family-centric than the surrounding county with 24.47% of the households containing married families with children. The county average for households married with children is 36.23%.
The median household income in Iowa City, Iowa 52246 is $51,925. The median household income for the surrounding county is $67,414 compared to the national median of $69,021. The median age of people living in Iowa City 52246 is 26.1 years.
The average high temperature in July is 85.1 degrees, with an average low temperature in January of 13.3 degrees. The average rainfall is approximately 36.9 inches per year, with 26.8 inches of snow per year.
