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32608225
32608217

1215 East 11th Street, Davenport, IA 52803

YM
IA IA S73371000, IL IL 475.205207 (+1)
Marcus & Millichap - Chicago Downtown
Listed by Marcus & Millichap - Chicago Downtown
$5,795,000
22 days on market
Updated 22 days ago

The QC 100

Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 67,196
Units 100
Cap Rate 7.16%
NOI $414,738
Occupancy 87.5%
Pro-Forma Cap Rate 8.69%
Pro-Forma NOI $503,424
Price per SqFt $86
Class C
Buildings 3
Investment Type Value Add
Occupancy Date 05/13/2026
Sale Condition N/A

100 Unit Portfolio Available in Davenport & Bettendorf Iowa

Marketing description

The QC 100 Portfolio is a 100-unit multifamily offering strategically positioned across Davenport and Bettendorf, Iowa, representing a rare opportunity to acquire immediate scale in two of the Quad Cities’ most established and desirable rental submarkets. The portfolio consists of Carriage Hill Apartments (44 units), Shire Apartments (28 units), and Rivendell Apartments (28 units), offering a combined unit mix of 82 one-bedroom units and 18 two-bedroom units. Shire and Rivendell are practically adjacent in Bettendorf, creating meaningful operational efficiencies through concentrated management and maintenance, while Carriage Hill is located just five minutes away in Davenport’s East End, allowing for streamlined oversight across the full portfolio.

The portfolio features a variety of practical resident amenities including secure-entry buildings, on-site laundry facilities, detached garage parking, and on-site surface parking, creating operational efficiencies while enhancing overall tenant appeal. The utility structures across the assets are straightforward and efficient, with ownership covering select utility expenses while preserving manageable operating structures. The concentrated nature of the portfolio allows investors to achieve immediate economies of scale while maintaining operational flexibility across three strategically assembled assets within tightly connected submarkets.

Situated within some of Davenport and Bettendorf’s most desirable and supply-constrained residential corridors, The QC 100 Portfolio benefits from strong surrounding demographics, highly rated school districts, and immediate proximity to retail, dining, parks, and riverfront recreation. Carriage Hill Apartments is located in Davenport’s East End, one of the city’s most established and character-rich residential neighborhoods, recognized for its walkability, historic charm, and proximity to the Village of East Davenport and downtown Davenport. Shire Apartments and Rivendell Apartments are positioned within Bettendorf, one of Eastern Iowa’s most sought-after communities, known for its strong public infrastructure, quality-of-life amenities, and highly regarded municipal services.

As part of the Quad Cities MSA - home to more than 470,000 residents - The QC 100 Portfolio benefits from a diverse regional economy anchored by major employers including John Deere, Genesis Health System, UnityPoint Health, Rock Island Arsenal, Amazon, and Tyson Foods. The assets are also located near major educational institutions including Palmer College of Chiropractic, St. Ambrose University, and Augustana College, supporting durable rental demand across the market. With immediate scale, concentrated geography, and irreplaceable locations in premier Quad Cities submarkets, The QC 100 Portfolio presents a compelling opportunity to acquire a strategically assembled multifamily portfolio in one of the Midwest’s most stable and desirable rental markets.

Investment highlights

Carriage Hill Apartments | 1203 E 11th St. Davenport, IA 52803

Carriage Hill Apartments is a 44-unit multifamily property located in Davenport, Iowa, within the established East End neighborhood near the Village of East Davenport and downtown Davenport. The property consists of 44 one-bedroom, one-bath units and benefits from strong access to major employment, retail, and recreational amenities. The property features secure entry, on-site coin laundry, and detached garages, providing additional tenant convenience and ancillary income potential. Ownership covers water, sewer, and trash, while tenants are responsible for gas and electric.

Its central infill location near major educational institutions, healthcare providers, and regional employers positions Carriage Hill within a durable rental corridor where demand is supported by the broader Quad Cities economy and the neighborhood’s proximity to key lifestyle and employment drivers.

Shire Apartments | 806-808 State St. Bettendorf, IA 52722

Shire Apartments is a 28-unit multifamily property located in Bettendorf, Iowa, consisting of 16 one-bedroom and 12 two-bedroom units. Positioned in a central residential corridor, the property offers convenient access to retail centers, parks, and the Mississippi Riverfront trail system.

The property features secure entry and on-site coin laundry, providing practical amenities for residents and operational efficiency for ownership. Water, sewer, and trash are included, while tenants are responsible for gas and electric, creating a straightforward utility structure.

Located within the Bettendorf Community School District and near major Quad Cities employers and educational institutions, Shire benefits from a location within one of the region’s most desirable residential submarkets, where renter demand remains supported by strong economic and educational drivers.

Rivendell Apartments | 924-932 State St. Bettendorf, IA 52722

Rivendell Apartments is a 28-unit multifamily property located in Bettendorf, Iowa, one of the strongest submarkets within the Quad Cities metro. The property consists of 22 one-bedroom and 6 two-bedroom units and benefits from a central location with direct access to the Mississippi Riverfront Trail and river views from select units.

The property offers on-site parking and shared laundry facilities, providing practical amenities that support day-to-day tenant convenience and efficient operations. Its location places residents near retail, dining, parks, and major employment corridors throughout the Quad Cities.

Bettendorf continues to see strong renter demand due to its highly regarded school district, stable municipal infrastructure, and proximity to major regional employers and higher education institutions, supporting long-term rental demand and market stability.

Listing Contacts

YM
IA IA S73371000, IL IL 475.205207 (+1)
Marcus & Millichap - Chicago Downtown
Listed by Marcus & Millichap - Chicago Downtown

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Loan Amount
$0.00
Annual Debt Service
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Annual Cash Flow
$414,738.00
$34,561.50/mo

Valuation Metrics

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DSCR
7.16%
Cap Rate
7.16%
ROI

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Additional Information

Name
Jon Ruzicka
License
B63379000
Brokerage
Marcus & Millichap
Title
Broker of Record
Brokerage Address
1601 Utica Avenue South, Suite 301 Minneapolis, MN 55416
Name
Yianni Mouflouzelis
License
IA S73371000
Brokerage
Marcus & Millichap
Brokerage Phone
(952) 852-9700
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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