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.
Residential For Sale
716 Dubuque St, Iowa City, Iowa 52245
Information on this page deemed reliable, but not guaranteed to be accurate. Listing information was entered by the listing agent and provided by ICAAR (Iowa City Area Association of REALTORS®) MLS and CRAAR (Cedar Rapids Area Association of REALTORS®) MLS. Urban Acres claims no responsibility for any misinformation, typographical errors, or misprints displayed from the MLS sources.
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