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Olde Town Estates 7118 Hillandale Rd 100 Unit Apartment Building $8,500,000 ($85,000/Unit) 7.74% Cap Rate Davenport, IA 52806
Investment Highlights
- positioned for straightforward everyday access, with nearby bus service available along the Hillandale corridor and a Greyhound/FlixBus stop up road.
- Regional employers include Genesis Health System, UnityPoint Health – Trinity, Deere & Company, the Rock Island Arsenal, Kraft Heinz, Arconics.
- Local restaurants:Texas Roadhouse, Olive Garden, Buffalo Wild Wings, Panera Bread, Chick-fil-A, Culver's, Chipotle, Starbucks, and Portillo's.
- The Property is also well placed for driving, with quick access to major Davenport roadways and the broader Quad Cities highway network.
- Everyday convenience is supported by nearby Walgreens, CVS Pharmacy, Casey's, Kwik Star, and multiple banking and service retail options in Area.
- The Property features ample parking with lots surrounding the Property
Executive Summary
We are pleased to present the exclusive opportunity to purchase the Olde Town Estates, a multi-family investment property located at 7118 Hillandale Road in Davenport, IA (the "Property"). The multi-story buildings contain twenty (20) 3-Bedroom/1.5-Bathroom units and eighty (80) 2-Bedroom/1-Bathroom units with 81,340 square feet of gross living area in 88,100 square feet of gross area. The Property is situated upon a 5.67-acre parcel and features ample off-street parking spaces.
Olde Town Estates is strategically located in eastern Davenport along Hillandale Road, offering residents convenient access to the city's primary commercial corridors, employment centers, and surrounding suburban neighborhoods. The property benefits from strong regional connectivity via nearby Interstate 74, Interstate 80, and U.S. Route 61, allowing efficient travel throughout the greater Quad Cities region, including neighboring Bettendorf, Moline, and Rock Island. Positioned within a well-established residential area, the community is also proximate to major retail destinations along Kimberly Road and Elmore Avenue, providing convenient access to shopping, dining, healthcare services, and everyday amenities that support long-term residential demand.
Olde Town Estates is strategically located in eastern Davenport along Hillandale Road, offering residents convenient access to the city's primary commercial corridors, employment centers, and surrounding suburban neighborhoods. The property benefits from strong regional connectivity via nearby Interstate 74, Interstate 80, and U.S. Route 61, allowing efficient travel throughout the greater Quad Cities region, including neighboring Bettendorf, Moline, and Rock Island. Positioned within a well-established residential area, the community is also proximate to major retail destinations along Kimberly Road and Elmore Avenue, providing convenient access to shopping, dining, healthcare services, and everyday amenities that support long-term residential demand.
Property Facts
| Price | $8,500,000 | Apartment Style | Garden |
| Price Per Unit | $85,000 | Building Class | B |
| Sale Type | Investment | Lot Size | 5.67 AC |
| Cap Rate | 7.74% | Building Size | 88,100 SF |
| No. Units | 100 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1982 |
| Property Subtype | Apartment | Parking Ratio | 2.33/1,000 SF |
| Price | $8,500,000 |
| Price Per Unit | $85,000 |
| Sale Type | Investment |
| Cap Rate | 7.74% |
| No. Units | 100 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | B |
| Lot Size | 5.67 AC |
| Building Size | 88,100 SF |
| No. Stories | 2 |
| Year Built | 1982 |
| Parking Ratio | 2.33/1,000 SF |
Amenities
Unit Amenities
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 80 | - | 800 |
| 3+1.5 | 20 | - | 1,200 |
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Somewhat walkable
20/100
Exceptionally drivable
100/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | W0403C04B | Improvements Assessment | $2,872,980 |
| Land Assessment | $349,220 | Total Assessment | $3,222,200 |
Property Taxes
Parcel Number
W0403C04B
Land Assessment
$349,220
Improvements Assessment
$2,872,980
Total Assessment
$3,222,200
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Olde Town Estates | 7118 Hillandale Rd