2432 Petsel PlaceIowaCity, IA 52246
Hawkeye Heights · Johnson County
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 Information
- Property type
- Residential
- Sub-type
- Multi Family
- Year built
- 1980
- Living area
- 7,488 Sq Ft
- Lot dimensions
- Irr -0.79 Acres
- Parking spaces
- 4
- Zoning
- Multifamily
- Days on market
- 43
- MLS® Listing#
- 202605446
Property Features
- Appliances
- Dishwasher · Refrigerator · Dryer · Washer
- Cooling
- Window Unit(s)
- Heating
- Baseboard
- Flooring
- Carpet · Vinyl
- Basement
- Concrete · Partial · Daylight
- Parking
- Off Street
- Construction
- Vinyl Siding · Frame
- Security
- Carbon Monoxide Detector(s) · Smoke Detector(s)
- Community
- Sidewalks · Street Lights
- Sewer
- Public Sewer
- Water source
- Public
Schools
- Elementary
- Borlaug
- Middle
- Northwest
- High
- West
Financial Details
- HOA
- None
- Annual taxes
- $13,916Tax year 2025
- Parcel number
- 1017233003
Directions
North on Mormon Trek to left on Petsel Place.
Listing Courtesy: Westwinds Real Estate Services, Inc. - 3193543792
Presented by: Teague Case
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