$2,300,000
bedrooms
0
bathrooms
0
square feet
5,626
Acreage
-
Open Houses
-
year built
1925
Full Baths
0
Half Baths
0
Rare investment opportunity - 21 room boarding house currently leased to a fraternity, leased through the grand chapter. Tenant is responsible for all maintenance, except for boiler and roof. Boiler was replaced December 2024. Owner is responsible for up to $1,100 in utility expense, unless fully occupied - Currently at full occupancy. There are 6 years left on the 10-year Lease Agreement. Tenants must decide by year-7 if they want to renew for another 5 years at an increased rent rate of $16,500. Considerable notice to show and pre-approval / proof of funds required for showings. Updates completed in 2016: Brava 50-year roof tile installed, new windows, new sprinkler system, new doors and trim.
| Location | |
| Subdivision | Iowa City Original Town |
| County | Johnson |
| Elementary School | Mann |
| Middle School | Southeast |
| High School | City |
Open houses
Find out more
Tell us who you are, and we will have someone reach out to you.
MLS number: 202500734
Listing agent:
Tyler Riddle
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: Saturday, January 25 2025 at 2:29 p.m. EST
Kotohomes National