1905-1935 W. 40th Street
Davenport, IA 52806 ·
120 Units · Multifamily For Sale
|Price||N/A||Property Use Type||Investment|
|No. Units||120||Cap Rate||9.40%|
|Building Size||82,960 SF||Occupancy||94%|
|Property Type||Multifamily||Year Built||1967|
|Property Sub-type||Garden/Low-Rise||Lot Size||3.55 SF|
|Listing ID: 17934869||Date Created: 12/03/2012||Last Updated: 08/26/2013|
CBRE/Hubbell Commercial is the exclusive advisor for the sale of Woodland Apartments, located in Davenport, Iowa. The property had struggled with lack of good management in the initial years of ownership. However, new management was hired several years ago and has made significant progress. Due to being under capitalized there are several repairs that need to be addressed. There is significant management upside potential.
The property is located in the NW section of Davenport Iowa, part of the Quad Cities. The neighborhood is a well established area within the city. Theareas to the north and south are primarily single family residential ranging in age from 20-40 years. The immediate area is completely built up with strong barriers to entry. The property abuts Kimberly Road, a major east/western corridor that is heavy on commercial and retail. A major grocery store, Hy- Vee and retail center is located to the west of the property.
The area draws from an Army Reserve base to the south, Palmer Chiropractic college, Ambrose college and North Park Mall.
- Strong Barriers to entry
- Solid Residential Neighborhood
- Convenient to banks, grocery and restaurants
- Management upside potential
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