Heatherton Apartments
Multifamily | 24 Units | Davenport, IA
Marketing description
CBRE is pleased to offer the opportunity to acquire Heatherton Apartments, a 24-unit apartment community in Davenport, Iowa. Davenport is the 3rd largest city in the State of Iowa and the largest in the Quad Cities metro with a population of over 100,000 people. Davenport serves as the primary economic engine for the MSA of over 400,000 people.
Built in 1975 and renovated in 2022, Heatherton Apartments consists of two buildings featuring 2 studios, 10 one-bedroom, one-bathroom floor plans and 12 two-bedroom, one-bathroom floor plans. All units have been fully renovated to include stainless steel appliances, LVP flooring, new countertops, new lighting fixtures and new plumbing fixtures. Additionally, there have been significant exterior capital improvements recently completed.
The property is conveniently located near Wal-Mart, just 1.3 miles north of Davenport West High School, and across the street from the Library, Community Center, and the Scott Community College West Campus.
Please click here for more information: https://www.cbredealflow.com/buyer/agreement?pv=Zbyqs86qJCybOvxc3-7atbIece1-7P9C-uQBKHY49QUV5OKIJeVQk4YqSnPxKRbc
Investment highlights
Address: 3547 & 3553 Heatherton Dr, Davenport, IA 52804
List Price: $1,700,000
Cap Rate: 8.41%
Year Built/Renovated: 1975/2022
Number of Units: 24
Unit Mix: 2-Studios; 10-1BR/1BA; 12-2BR/1BA
Total Building Size: 19,008 SF
Avg. In Place Rent: $768
Number of Buildings: 2
Number of Stories: 3
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