Pine Townhomes Davenport, IA 30 Units 1 Multifamily Properties Offered at $2,300,000 in Davenport, IA

The Pines Townhomes is a fully stabilized 30-unit multifamily asset located at 2615 N Pine Street in Davenport, Iowa. The property offers a highly functional mix of two-bedroom townhome-style units averaging approximately 890 square feet, with each unit offering private entries, dedicated outdoor space, and in-unit laundry hookups. Located just north of Locust Street in the Pine Knoll neighborhood, The Pines provides a quiet, suburban setting with direct access to nearby employment and retail corridors.
The property is ideally situated less than 10 minutes from downtown Davenport and within walking or short driving distance to retailers such as Walmart, Aldi, Walgreens, Dollar General, and NorthPark Mall. Davenport’s strong employment base, including Genesis Health System, MidAmerican Energy, and the Rock Island Arsenal, drives consistent rental demand. The Pines benefits from easy access to Interstate 80 and US-61, making it a desirable location for working families and long-term residents.
The Pines is currently 100% occupied, with all 30 units leased.
Davenport’s housing fundamentals continue to strengthen, with a median home value around $162,000, rising rental demand, and a growing population. The Pines sits in a supply-constrained submarket where affordable, well-located two-bedroom rentals remain scarce. With homeownership out of reach for many residents, demand for rental townhomes remains high and stable.
The Pines Townhomes presents investors with a rare opportunity to acquire a fully stabilized, cash-flowing asset in a durable Iowa submarket. With minimal capital needs, proven occupancy, and steady rent performance, the property is well positioned to provide reliable income and inflation-resistant returns in a tightening Midwestern housing market.