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516 Church Iowa City, IA 52240 • Multi Unit - Multiple • Active

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Description

Currently partially vacant but supported by an excellent rental history, this close-in property offers strong income potential and flexible use. Originally a single-family home, it has been converted into three 1-bedroom apartments along with six efficiency units off the alley, creating a total of nine rentable units. The location is highly desirable, providing convenient access to nearby amenities, transit, and the university. The property also features ample on-site parking, a valuable asset for tenants and a competitive advantage in the rental market. Great for an investor seeking a value-add opportunity or looking to expand their portfolio with a well-located multi-unit building. This property delivers both long-term potential and value.

Property Highlights

Property Type: Multi Unit - Multiple

General Information

County: Johnson
High School: City
Subdivision: Original Town
Listed By:
Blank & McCune Real Estate 319-354-9440 Teresa Morrow
ICAAR MLS
$550,000
Est. $3,528/mo
New to the Market Active
BEDS0 BATHS MLS#202602686
STATUSActive PROPERTY TYPEMulti Unit - Multiple SUBDIVISIONOriginal Town
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Agent Name: Kurt Johnson
 Agent Phone: (563) 343-0675
 Agency Title: Ruhl&Ruhl Realtors
 Agent Email:

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516 Church, Iowa City, IA 52240.

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Loan Type 30 Year FixedFHA 30 Year Fixed15 Year Fixed
Purchase Price $550,000$550,000$550,000
Down Payment $110,000$19,250$137,500
Monthly Mortgage Amount $2,603$3,238$3,343
Taxes $765$765$765
Insurance $100$100$100
HOA/Dues/Fees $0$0$0
Monthly Mortage Insurance $0$242$0
Monthly Estimated Total $3,528$4,405$4,268

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Disclaimer: All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information on this site was last updated 04/22/2026. The listing information on this page last changed on 04/22/2026. The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of Delta Media Group MLS (last updated Wed 04/22/2026 11:04:36 AM EST) or MRED MLS (last updated Wed 04/22/2026 11:01:08 AM EST) or SCWMLS (last updated Wed 04/22/2026 10:59:31 AM EST) or Rockford Board of Realtors (NWIAR) (last updated Wed 04/22/2026 11:03:54 AM EST) or Cedar Rapids MLS (last updated Wed 04/22/2026 10:59:22 AM EST) or NEIRBR MLS (last updated Wed 04/22/2026 10:59:57 AM EST) or ICAAR MLS (last updated Wed 04/22/2026 10:58:19 AM EST) or ECIMLS (last updated Wed 04/22/2026 10:56:24 AM EST) or RMLSA (last updated Wed 04/22/2026 11:01:07 AM EST) or Muscatine MLS (last updated Wed 04/22/2026 11:01:23 AM EST) or No Coast MLS (last updated Wed 04/22/2026 10:54:17 AM EST). Real estate listings held by brokerage firms other than Ruhl&Ruhl Realtors may be marked with the Internet Data Exchange logo and detailed information about those properties will include the name of the listing broker(s) when required by the MLS. All rights reserved.
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