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W 63rd Street Apartments 604-702 W 63rd St 36 Unit Apartment Building $2,753,920 CAD ($76,498 CAD/Unit) 8.02% Cap Rate Davenport, IA 52806
Executive Summary
CBRE is pleased to offer the opportunity to acquire W 63rd Street Apartments, a 36-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, W 63rd Street Apartments consists of six buildings featuring 12 one-bedroom, one-bathroom floor plans and 24 two-bedroom, one-bathroom floor plans. All units except one have been renovated to varying extents, typically including new flooring, paint, and bathroom fixtures. Additionally, there has been recent exterior work completed to some of the decks and parking lots. A value-add opportunity exists through the implementation of RUBS.
The property is conveniently located off the I-80/Brady Street interchange, providing convenient to employers, retailers, and amenities across the Quad Cities.
Address: 604, 614, 620, 628, 636, 702 W 63rd St, Davenport, IA
List Price: $1,975,000 ($54,861/unit)
Cap Rate: 8.02%
Number of Units: 36
??????????????Unit Mix: 24-2BR/1BA; 12-1BR/1BA
Avgerage In-Place Rents: $746
Year Built: 1975
Number of Buildings: 6
Built in 1975, W 63rd Street Apartments consists of six buildings featuring 12 one-bedroom, one-bathroom floor plans and 24 two-bedroom, one-bathroom floor plans. All units except one have been renovated to varying extents, typically including new flooring, paint, and bathroom fixtures. Additionally, there has been recent exterior work completed to some of the decks and parking lots. A value-add opportunity exists through the implementation of RUBS.
The property is conveniently located off the I-80/Brady Street interchange, providing convenient to employers, retailers, and amenities across the Quad Cities.
Address: 604, 614, 620, 628, 636, 702 W 63rd St, Davenport, IA
List Price: $1,975,000 ($54,861/unit)
Cap Rate: 8.02%
Number of Units: 36
??????????????Unit Mix: 24-2BR/1BA; 12-1BR/1BA
Avgerage In-Place Rents: $746
Year Built: 1975
Number of Buildings: 6
Property Facts
| Price | $2,753,920 CAD | Apartment Style | Garden |
| Price Per Unit | $76,498 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 1.28 AC |
| Cap Rate | 8.02% | Building Size | 28,800 SF |
| No. Units | 36 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1999 |
| Property Subtype | Apartment | ||
| Zoning | Commercial | ||
| Price | $2,753,920 CAD |
| Price Per Unit | $76,498 CAD |
| Sale Type | Investment |
| Cap Rate | 8.02% |
| No. Units | 36 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 1.28 AC |
| Building Size | 28,800 SF |
| No. Stories | 3 |
| Year Built | 1999 |
| Zoning | Commercial |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Freezer
Site Amenities
- 24 Hour Access
- Tenant Controlled HVAC
- Walking/Biking Trails
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 12 | - | 700 |
| 2+1 | 24 | - | 850 |
1 1
Somewhat walkable
30/100
Exceptionally drivable
100/100
Fairly bikeable
40/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $2,689,792 CAD | |
| Land Assessment | $271,348 CAD | Total Assessment | $2,961,141 CAD |
Property Taxes
Parcel Numbers
Land Assessment
$271,348 CAD
Improvements Assessment
$2,689,792 CAD
Total Assessment
$2,961,141 CAD
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W 63rd Street Apartments | 604-702 W 63rd St
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