Residential Sale
- Petsel Place, Iowa City, Iowa 52246
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Description

10-plex on the west side of Iowa City with a strong rental history and consistently low vacancy. Functional unit layouts, ample off-street parking, and a desirable location near shopping, transit, and UIHC make this an attractive, easy-to-rent asset. Current ownership has maintained steady occupancy, offering reliable in-place income with upside potential. Opportunity exists to increase NOI through implementation of a RUBS utility reimbursement program and/or leasing on-site storage lockers for additional monthly income. Solid cash-flowing investment with value-add components in a stable rental corridor. Ideal for investors seeking scale, stability, and room to grow returns over time.

Property Description

10-plex on the west side of Iowa City with a strong rental history and consistently low vacancy. Functional unit layouts, ample off-street parking, and a desirable location near shopping, transit, and UIHC make this an attractive, easy-to-rent asset. Current ownership has maintained steady occupancy, offering reliable in-place income with upside potential. Opportunity exists to increase NOI through implementation of a RUBS utility reimbursement program and/or leasing on-site storage lockers for additional monthly income. Solid cash-flowing investment with value-add components in a stable rental corridor. Ideal for investors seeking scale, stability, and room to grow returns over time.

Basic Details
Property Type:
Residential
Listing Type:
Sale
Listing ID:
202601495
Price:
$950,000
Beds:
0
Total Baths:
1
Baths:
0
Half Bathrooms:
0
Construction Year:
1980
Country:
US
State:
IA
County:
Johnson
City:
Iowa City
Zipcode:
52246
Subdivision:
Hawkeye Heights
Property Sub Type:
MultiFamily
Features
Heating:
Baseboard
Cooling System:
Window Units
Parking:
Off Street
Basement:
Partial, Concrete, Daylight
Construction:
Frame, Vinyl
Address Map
Street Number:
2432
Street:
Petsel Place
Floor Number:
0
Longitude:
W92° 25' 28.5''
Latitude:
N41° 39' 19.8''
More Information
Office Name:
Westwinds Real Estate Services, Inc.
Elementary School:
Borlaug
Jr./Middle School:
Northwest
High School:
West
Directions:
North on Mormon Trek to left on Petsel Place.
Zoning:
Multifamily
Lot Dimensions:
Irr -0.79 Acres
LA1Agent Logon Name:
i1838
LA1Agent First Name:
Teague
LA1Agent Last Name:
Case
LO1Main Office ID:
IWWR
319.351.1111 - 250 Holiday Road, Coralville, IA 52241
Agent Information
Teague Case
Westwinds Real Estate Services, Inc.
Additional Details
Window Units
Partial, Concrete, Daylight
Frame, Vinyl
03/03/2026
North on Mormon Trek to left on Petsel Place.
Irr -0.79 Acres