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.
For sale
$2,300,000
716 N Dubuque St, Iowa City, IA 52245
--beds
--baths
6,826sqft
Est.:
Multi Family, Residential
Built in 1925
-- sqft lot
$2,202,600 Zestimate®
$337/sqft
$-- HOA
What's special
New windowsNew sprinkler system
- 201 days
- on Zillow |
- 413 |
- 6 |
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