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W Locust Street Apartments 1003-1011 W Locust St 12 Unit Apartment Building $625,000 ($52,083/Unit) 8.02% Cap Rate Davenport, IA 52804
Investment Highlights
- Tenants pay gas & electric; RUBS implemented for water & sewer
- Less than a mile from MercyOne Genesis Medical Center, Assumption High School, and Central High School
- Three blocks from St. Ambrose University
- Coin-operated laundry in both buildings
Executive Summary
Year Built - 1947
Number of Units - 12
Occupancy - 100%
Unit Mix - 1-Studio; 11-1BR/1BA
Avg. In Place Rents - $683
Parking - Surface
Heating - Individual furnace
Cooling - Window A/C
Water Heater - Common
Appliances - Fridge and range
2026 Assessed Value - $716,110
Number of Units - 12
Occupancy - 100%
Unit Mix - 1-Studio; 11-1BR/1BA
Avg. In Place Rents - $683
Parking - Surface
Heating - Individual furnace
Cooling - Window A/C
Water Heater - Common
Appliances - Fridge and range
2026 Assessed Value - $716,110
Property Facts
| Price | $625,000 | Apartment Style | Garden |
| Price Per Unit | $52,083 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.69 AC |
| Cap Rate | 8.02% | Building Size | 10,284 SF |
| No. Units | 12 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built/Renovated | 1947/2010 |
| Price | $625,000 |
| Price Per Unit | $52,083 |
| Sale Type | Investment |
| Cap Rate | 8.02% |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | B |
| Lot Size | 0.69 AC |
| Building Size | 10,284 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built/Renovated | 1947/2010 |
Amenities
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 1 | - | 600 |
| 1+1 | 11 | - | 750 |
1 1
Moderately walkable
60/100
Moderately drivable
60/100
Minimal public transit
10/100
Moderately bikeable
60/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $646,980 | |
| Land Assessment | $68,040 | Total Assessment | $715,020 |
Property Taxes
Parcel Numbers
Land Assessment
$68,040
Improvements Assessment
$646,980
Total Assessment
$715,020
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