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3547 & 3553 Heatherton Drive

Davenport, IA 52804
  • $1,752,000
  • STATUS: Active
  • ON SITE: 102 Days
  • ID#: QC4248291
UPDATED: 45 min ago
$1,752,000
  • 0
    BEDS
  • 0.76
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Commercial
Built:
1975
County:
Area:

School Ratings & Info

Description

Two (2) 12-unit apartment buildings (24-units total) recently renovated and For Sale at an 8.3% Cap Rate. Located in a great area just east of N Fairmount Street and less than a half mile from Scott Community College (West Campus). Unit mix includes two (2) studio units, ten (10) 1bd/1ba units, and twelve (12) 2bd/1ba units. Tenants pay separately metered gas and electric. All 24 units received interior renovations in 2022/2023, both buildings had full roof replacements in 2022, windows/doors replaced 2022/2023, mechanicals update in 2023, and balconies rebuilt in 2022. Buildings are in the city's URTE tax exemption program which freezes the assessed value for 3 years. Great opportunity for a professionally managed and stabilized investment property. Please contact listing agent for current rent roll and financials.

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© 2024 RMLS Alliance, LLC. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Bryson Smith Team | Keller Williams Premier Realty. Data last updated: 2024-03-02T18:45:17.547.
www.brysonsmithteam.com/homes/145394651
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3547 & 3553 Heatherton Drive Davenport, IA 52804

  • Price: $1,752,000
  • Status: Active
  • On Site: 102 Days
  • Updated: 45 min ago
  • ID#: QC4248291
0
Beds
0
Baths
0
½ Baths
0.76
Acres
1975
Built
Neighborhood:
Qcara Area
County:
Scott
Area:
Qcara Area
Property Description
Two (2) 12-unit apartment buildings (24-units total) recently renovated and For Sale at an 8.3% Cap Rate. Located in a great area just east of N Fairmount Street and less than a half mile from Scott Community College (West Campus). Unit mix includes two (2) studio units, ten (10) 1bd/1ba units, and twelve (12) 2bd/1ba units. Tenants pay separately metered gas and electric. All 24 units received interior renovations in 2022/2023, both buildings had full roof replacements in 2022, windows/doors replaced 2022/2023, mechanicals update in 2023, and balconies rebuilt in 2022. Buildings are in the city's URTE tax exemption program which freezes the assessed value for 3 years. Great opportunity for a professionally managed and stabilized investment property. Please contact listing agent for current rent roll and financials.
Exterior Features

Construction Materials Vinyl SidingFrame Roof Membrane

Interior Features

Building Area Total 19008 Common Laundry YN Yes Cooling Central Air Flooring Tile/Vinyl Handicap Modified Unknown Heating Forced Air Individual Laundry YN No

Property Features

Agent Owned No Financing None Frontage Type City Street Gross Operating Income 219780 Lease Term Not Applicable Levels Two Net Operating Income 145239 Owner Pays LawncareTrash CollectionWater Possible Use InvestmentMulti-Family Sewer Public Sewer Tax Annual Amount 10242 Tax Incentive1 Other Tax Incentive Tax Year 2023 Tenant Pays CoolingElectricityGasHeat Type Commercial Water Source Municipal/City Zoning R-4

Listing provided courtesy of Alex Kelly of NAI Ruhl Commercial Company: Office: 563-355-4000.
© 2024 RMLS Alliance, LLC. All Rights Reserved.


© 2024 RMLS Alliance, LLC. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Bryson Smith Team | Keller Williams Premier Realty. Data last updated: 2024-03-02T18:45:17.547.
 
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