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26801196
26801195

400 River St, Davenport, IA 52803

MC
IA S61308000
CBRE - Des Moines
Listed by CBRE - Des Moines
$11,000,000
272 days on market
Updated 37 days ago
Opportunity zone

400 River

Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 51,046
Units 55
Cap Rate 6.14%
NOI $674,912
Occupancy 98.2%
Price per SqFt $215
Year Built 2022
Stories 5

Multifamily | 5.84% CAP | 55 Units

Marketing description

CBRE is pleased to present to qualified investors the opportunity to acquire 400 River, a luxury apartment complex built in 2022 comprised of 55 market rate rental units located right in downtown Davenport, Iowa. These units offer a high level of amenities including an oversized roof top patio overlooking the Mighty Mississippi River and downtown, covered parking spaces, private unit balconies, luxury vinyl plank flooring, in unit laundry, and Mississippi River views from every residential unit.

400 River benefits from a premier location along Davenport’s revitalized riverfront, offering unmatched visibility and access to the city’s growing downtown core. The property is within walking distance of key employment centers, cultural attractions, and entertainment venues, including the Figge Art Museum, Modern Woodmen Park, and the River Center. With continued investment in downtown infrastructure and riverfront development, this area is attracting a diverse tenant base—from young professionals to empty nesters—seeking walkable, amenity-rich living environments.

Investment highlights

  • 2025 NOI: $674,912
  • Occupancy: 98.2%
  • Year Completed: 2022
  • Units: 55
  • Replacement Cost: $15M+
  • Tax Abatement: 100% (8 years remaining)
  • Quad City Population: 474K
  • Implemented Internet/Cable Fees (Sept 2025)
  • Strong Rental Demand
  • Significant Rent Upside
  • Elevated Modern Interiors
  • High End Luxury Finishes
  • Rooftop Patio and Lounge
  • Assigned Covered Parking
  • Minimal Landscaping Expense
  • Expertly Designed Floor Plans
  • Impeccably Maintained
  • Centrally Located in Business District
  • Walkability throughout Downtown Davenport

To view our offering memorandum, please visit:

https://www.cbredealflow.com/handler/modern.aspx?pv=RPIS9A_v3RQuuzccki-l84B8kGg-KfAh62Qj2toM-GdtxOqeYjZ9lDPPYJwkVflAXT8KukqXrVZLeUkzx2G_2Q

Listing Contacts

MC
IA S61308000
CBRE - Des Moines
Listed by CBRE - Des Moines

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Loan Amount
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Annual Debt Service
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Annual Cash Flow
$674,912.00
$56,242.67/mo

Valuation Metrics

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DSCR
6.14%
Cap Rate
6.14%
ROI

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