3701-3761 Eastbrook Dr - Apartments FOR SALE


Iowa City, IA 52245
$5,250,000 USD
319-229-1003
3701-3761 Eastbrook Dr, Iowa City, IA for Sale
$5,250,000 USD
Apartments - FOR SALE
1/18
null | 3.9% Cap Rate

3701-3761 Eastbrook Dr
Iowa City, IA 52245


HIGHLIGHTS

  • Units feature new appliances, washer & dryer in unit, quartz countertops, LVP flooring, and dishwasher.
  • Close proximity to The University of Iowa and UIHC
  • Located in a quickly growing part of Iowa City

OVERVIEW

3701 Eastbrook St in Iowa City is a 2 – building, 18– Unit property with 3.5 acres of developed land and 4.01 acres of excess undeveloped land located on the east side of Iowa City. The excess land is approved for an additional 86 units. The property is currently rented by the unit, and features three different floor plans: 6 - 1 bed / 1 bath, 4 - 2 bed / 2 bath & 8 - 3 bed / 2 bath. The buildings were constructed in 2024. Tenants are responsible for utilities. Units feature high-end finishes including new appliances, washer & dryer in unit, quartz countertops, LVP flooring, and dishwasher. This provides a high-end living experience at an affordable and attractive price for people of all ages. 3701 Eastbrook St in Iowa City is located, right off of S Scott Blvd in Iowa City. The property is adjacent to the scenic Rita's Ranch Dog Park which is an attractive amenity to pet owners. Iowa City is home to the University of Iowa and the world-renowned University of Iowa Hospital and Clinics. The location provides easy acess to the University and the hospital which makes this property a great housing option for full-time students, part-time students, faculty and staff of the University and employees of UIHC. The property also features close proximity numerous other employers and amenities. The property is strategically located on the east side of Iowa City and is a part of growing Cedar Rapids & Iowa City corridor with numerous recent development projects taking shape in the corridor. Some nearby amenities include: Hy-Vee, Fareway, Casey's, Kum & Go, BlackStone, Short's Burgers, Midtown Family Resturant, Bread Worthy Bakery, Mesa 503, Shakespeare's Pub and Grill, Jimmy Jack's Rib Shack, Wendy's, Court Hill Trail, Mercer Park and Iowa City Marketplace.

FOR SALE DETAILS

PRICE

$5,250,000 USD

PRICE/SF

$263 USD /SF

# OF UNITS

18

PRICE/UNIT

$291,667

CAP RATE

3.9%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Ridge at Scott Park

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

2024

PARKING SPACES

58

LAND DETAILS

LAND ACRES

7.51 AC

LAND SF

327,136 SF

ZONING

MFD

APN/PARCEL ID

0918257002

ASK ABOUT THIS PROPERTY

Josh SeamansCushman & Wakefield | Iowa Commercial AdvisorsMore Info
319-229-1003

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Josh SeamansCushman & Wakefield | Iowa Commercial AdvisorsMore Info
319-229-1003

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.