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Heatherton Apartments 3539-3553 Heatherton Dr 24 Unit Apartment Building $1,700,000 ($70,833/Unit) 8.41% Cap Rate Davenport, IA 52804
EXECUTIVE SUMMARY
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.
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.
PROPERTY FACTS
| Price | $1,700,000 | Apartment Style | Low-Rise |
| Price Per Unit | $70,833 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.76 AC |
| Cap Rate | 8.41% | Building Size | 19,008 SF |
| No. Units | 24 | No. Stories | 3 |
| Property Type | Multifamily | Year Built/Renovated | 1975/2022 |
| Property Subtype | Apartment |
| Price | $1,700,000 |
| Price Per Unit | $70,833 |
| Sale Type | Investment |
| Cap Rate | 8.41% |
| No. Units | 24 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.76 AC |
| Building Size | 19,008 SF |
| No. Stories | 3 |
| Year Built/Renovated | 1975/2022 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Balcony
- Cable Ready
- Disposal
- Heating
- Refrigerator
- Oven
- Carpet
- Freezer
SITE AMENITIES
- Controlled Access
- Laundry Facilities
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 12 | - | 800 |
| 1+1 | 10 | - | 580 |
| Studios | 2 | - | 450 |
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PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $1,249,220 | |
| Land Assessment | $122,070 | Total Assessment | $1,371,290 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$122,070
Improvements Assessment
$1,249,220
Total Assessment
$1,371,290
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Heatherton Apartments | 3539-3553 Heatherton Dr
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