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806-808 State St
Bettendorf, IA 52722
Shire Apartments · Multifamily Property For Sale
·
28 Units
Investment Highlights
- Located in Bettendorf, one of the Quad Cities’ most stable and high-demand rental submarkets.
- Practical amenities including secure entry, laundry facilities, and off-street parking.
- Strong regional economy supported by major employers and higher education institutions.
- 28-unit mix of one- and two-bedroom layouts designed for broad renter appeal.
- Immediate access to retail, parks, dining, and Mississippi Riverfront recreation trails.
- Positioned minutes from downtown Davenport, Moline, and key regional highways.
Executive Summary
Marcus & Millichap is pleased to present Shire Apartments, a 28-unit multifamily asset located in Bettendorf, Iowa, one of the most desirable and stable submarkets within the Quad Cities metro. The property consists of 16 one-bedroom and 12 two-bedroom units, offering a balanced unit mix designed to appeal to a broad tenant base. The property features secure entry, on-site laundry facilities, and a straightforward utility structure with water, sewer, and trash included, supporting tenant retention and operational efficiency. Positioned in a central Bettendorf location, residents benefit from convenient access to retail centers, parks, dining, and the Mississippi Riverfront trail system.
Bettendorf remains one of the strongest residential communities in the region, known for its highly rated schools, strong municipal services, and overall quality of life. The city continues to attract renters seeking a suburban environment with immediate access to the broader Quad Cities employment base. Nearby educational institutions such as Palmer College of Chiropractic, St. Ambrose University, and Augustana College help support a consistent demand base from both students and working professionals. Combined with convenient regional highway access, the property benefits from strong renter demand and historically stable occupancy.
With a metropolitan population exceeding 470,000, the Quad Cities region is anchored by a diverse economy spanning manufacturing, healthcare, logistics, and education. Major employers including John Deere, Rock Island Arsenal, Genesis Health System, UnityPoint Health, Amazon, and Tyson Foods continue to drive employment and housing demand throughout the market. Shire Apartments presents investors the opportunity to acquire a well-located, income-producing asset in one of Eastern Iowa’s most durable multifamily submarkets.
Bettendorf remains one of the strongest residential communities in the region, known for its highly rated schools, strong municipal services, and overall quality of life. The city continues to attract renters seeking a suburban environment with immediate access to the broader Quad Cities employment base. Nearby educational institutions such as Palmer College of Chiropractic, St. Ambrose University, and Augustana College help support a consistent demand base from both students and working professionals. Combined with convenient regional highway access, the property benefits from strong renter demand and historically stable occupancy.
With a metropolitan population exceeding 470,000, the Quad Cities region is anchored by a diverse economy spanning manufacturing, healthcare, logistics, and education. Major employers including John Deere, Rock Island Arsenal, Genesis Health System, UnityPoint Health, Amazon, and Tyson Foods continue to drive employment and housing demand throughout the market. Shire Apartments presents investors the opportunity to acquire a well-located, income-producing asset in one of Eastern Iowa’s most durable multifamily submarkets.
Property Facts
| Price Per Unit | $81,927 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.83 AC |
| Cap Rate | 7.76% | Building Size | 18,600 SF |
| Gross Rent Multiplier | 5.99 | Average Occupancy | 88% |
| No. Units | 28 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1947 |
| Property Subtype | Apartment | Parking Ratio | 1.25/1,000 SF |
| Apartment Style | Low-Rise |
| Price Per Unit | $81,927 CAD |
| Sale Type | Investment |
| Cap Rate | 7.76% |
| Gross Rent Multiplier | 5.99 |
| No. Units | 28 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.83 AC |
| Building Size | 18,600 SF |
| Average Occupancy | 88% |
| No. Stories | 3 |
| Year Built | 1947 |
| Parking Ratio | 1.25/1,000 SF |
Amenities
Unit Amenities
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Freezer
Site Amenities
- 24 Hour Access
- Laundry Facilities
- Tenant Controlled HVAC
- Walking/Biking Trails
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 16 | - | 600 |
| 2+1 | 12 | - | 750 |
Property Taxes
| Parcel Number | 84296021616 | Improvements Assessment | $1,907,008 CAD |
| Land Assessment | $301,070 CAD | Total Assessment | $2,208,078 CAD |
Property Taxes
Parcel Number
84296021616
Land Assessment
$301,070 CAD
Improvements Assessment
$1,907,008 CAD
Total Assessment
$2,208,078 CAD
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