Historical Multifamily Sale Listing - Woodland Apartments

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Woodland Apartments

1905-1935 W. 40th Street, Davenport, IA 52806

N/A

120 Units | Multifamily

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Multifamily Property - Off Market

Price:
N/A
No. Units:
120
Building Size:
82,960 SF
Property Type:
Multifamily
Property Sub-type:
Garden/Low-Rise
Property Use Type:
Investment
Cap Rate:
9.40%
Occupancy:
94%
Year Built:
1967
Lot Size:
3.55 SF
Listing ID
17934869
Last Updated
331 days ago

Highlights

  • Strong Barriers to entry
  • Solid Residential Neighborhood
  • Convenient to banks, grocery and restaurants
  • Management upside potential

Description

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.

Map of 1905-1935 W. 40th Street, Davenport, IA 52806 (Scott County)

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Created 12/3/2012