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Cumberland House Apartments 2365 Tech Dr 32 Unit Apartment Building $3,600,303 CAD ($112,509 CAD/Unit) Bettendorf, IA 52722
INVESTMENT HIGHLIGHTS
- New residents are billed back a $50/month utility fee
- Management is leasing vacant one-bedroom units for $795 plus a $50 utility fee and two-bedroom units for $895 plus a $50 utility fee
- Cumberland House recently transitioned from LIHTC/Senior to Market-Rate - no further restrictions apply
EXECUTIVE SUMMARY
CBRE is pleased to offer for sale Cumberland House, a 32-unit multifamily community located in Bettendorf, Iowa. Cumberland House offers a new investor a unique opportunity to acquire a property that recently transitioned from LIHTC/Senior to Market-Rate - no further restrictions apply. Management is leasing vacant one-bedroom units for $795 plus a $50 utility fee and two-bedroom units for $895 plus a $50 utility fee.
Built in 1999, the property features a mix of 25 one bedrooms and 7 two bedrooms. The elevator served building has common area laundry, a large community room with a full kitchen, and an on-site leasing office.
Cumberland House is well located in Bettendorf near an abundance of retail, across the street from the Bettendorf Public Library, and is situated directly between the Bettendorf Middle School and High School. The property is surrounded by strong demographics, including an average median income over $107,600 and average home value over $358,600 within a 3 mile radius.
Address: 2365 Tech Drive, Bettendorf, IA 52722
Year Built: 1999
No. of Units: 32
Unit Mix: 25 - 1BR/1BA; 7 - 2BR/1BA
Parcel Size: 1.00 acre
Construction: Wood frame
Exterior Materials: Vinyl siding (new in 2025)
Windows: Vinyl
Heating: Boiler
Cooling: Sleeve A/C units
Utilities: Resident pays electric within their unit. Owner pays gas (heat), water, sewer, trash, and common area electric. New residents are billed back a $50/month utility fee.
Parking: Surface
Building Amenities: Elevator, community room with full kitchen, on-site leasing office, on-site beauty shop, and large community deck
Cumberland House recently transitioned from LIHTC/Senior to Market-Rate - no further restrictions apply
Management is leasing vacant one-bedroom units for $795 plus a $50 utility fee and two-bedroom units for $895 plus a $50 utility fee
Built in 1999, the property features a mix of 25 one bedrooms and 7 two bedrooms. The elevator served building has common area laundry, a large community room with a full kitchen, and an on-site leasing office.
Cumberland House is well located in Bettendorf near an abundance of retail, across the street from the Bettendorf Public Library, and is situated directly between the Bettendorf Middle School and High School. The property is surrounded by strong demographics, including an average median income over $107,600 and average home value over $358,600 within a 3 mile radius.
Address: 2365 Tech Drive, Bettendorf, IA 52722
Year Built: 1999
No. of Units: 32
Unit Mix: 25 - 1BR/1BA; 7 - 2BR/1BA
Parcel Size: 1.00 acre
Construction: Wood frame
Exterior Materials: Vinyl siding (new in 2025)
Windows: Vinyl
Heating: Boiler
Cooling: Sleeve A/C units
Utilities: Resident pays electric within their unit. Owner pays gas (heat), water, sewer, trash, and common area electric. New residents are billed back a $50/month utility fee.
Parking: Surface
Building Amenities: Elevator, community room with full kitchen, on-site leasing office, on-site beauty shop, and large community deck
Cumberland House recently transitioned from LIHTC/Senior to Market-Rate - no further restrictions apply
Management is leasing vacant one-bedroom units for $795 plus a $50 utility fee and two-bedroom units for $895 plus a $50 utility fee
PROPERTY FACTS
| Price | $3,600,303 CAD | Building Class | B |
| Price Per Unit | $112,509 CAD | Lot Size | 1.00 AC |
| Sale Type | Investment | Building Size | 28,725 SF |
| No. Units | 32 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built | 1999 |
| Apartment Style | Low-Rise |
| Price | $3,600,303 CAD |
| Price Per Unit | $112,509 CAD |
| Sale Type | Investment |
| No. Units | 32 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 1.00 AC |
| Building Size | 28,725 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1999 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Balcony
- Dishwasher
- Disposal
- Refrigerator
- Range
- Wheelchair Accessible (Rooms)
SITE AMENITIES
- Controlled Access
- Clubhouse
- Laundry Facilities
- Property Manager on Site
- Laundry Service
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 25 | - | 524 - 642 |
| 2+1 | 7 | - | 761 - 821 |
1 1
Walk Score®
Very Walkable (71)
PROPERTY TAXES
| Parcel Number | 842105602 | Improvements Assessment | $2,582,229 CAD |
| Land Assessment | $240,853 CAD | Total Assessment | $2,823,082 CAD |
PROPERTY TAXES
Parcel Number
842105602
Land Assessment
$240,853 CAD
Improvements Assessment
$2,582,229 CAD
Total Assessment
$2,823,082 CAD
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Cumberland House Apartments | 2365 Tech Dr
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