1004 Newton RD Iowa City, IA 52246

UNIQUE PROPERTY FOR SALE! TAILGATERS DREAM! Located within walking distance to Carver and Kinnick. Corner lot with parking. 3 stall garages have been used in the past for game day events by the Owners and has a restroom. SALE INCLUDES 1004 NEWTON ROAD & 7 VALLEY AVE which are one parcel. 1004 Newton Road is a 2-story home with 4 rental units at $450/mo. each for $1,800 or $21,600 Annually. Tenants pay all Utilities. Annual Insurance is approx. $1,500. New roof in 2015.
7 Valley Ave is 4 rental units above a 3-stall garage, built in 1985 and rent for $650-$675 /mo. each, total of $2,675, or $32,100 Annually. Annual Insurance is approx. $2,500. Landlord provides: Water/Sewer/Garbage with a monthly Average of $133 or $1,596 Annually. Landlord also provides Electric and Gas with a monthly Average of $104 or $1,248 Annually. LANDLORD PAYS FOR Lawn care, snow removal, repairs, supplies and trash removal. This averages $208 to $291 per month or $2,500 to $3,500 Annually. Annual City Inspection Fee $350. Current Owner prioritizes the parking spaces for the Tenants. If and when they do "Event Parking", they may have 15-cars at $20.00 per space for a possible $300 extra per "Event". This Income has not been added.