3544 Kimberly Downs Rd
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3544 Kimberly Downs Rd
24 Unit Apartment Building $1,650,000 ($68,750/Unit) 8.35% Cap Rate Davenport, IA 52807
Executive Summary
Great residential investment opportunity available in the heart of Davenport. Located just south of Kimberly Road and East of Brady Street Stadium. Listing includes a complex of 4 adjacent buildings, each with 6 rental units. 4 - 2 bedroom units and 2 - 1 bedroom units. Complex features paved off-street parking, coin-laundry, and many long term tenants. Currently locally managed, property offers good cashflow and easy transition to continued convenient, hands-off operation.
Financial Summary (Pro forma - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$213,000
|
$35.50
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$213,000
|
$35.50
|
| Taxes |
$20,500
|
$3.42
|
| Operating Expenses |
$54,750
|
$9.13
|
| Total Expenses |
$75,250
|
$12.54
|
| Net Operating Income |
$137,750
|
$22.96
|
Financial Summary (Pro forma - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $213,000 |
| Annual Per SF | $35.50 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $213,000 |
| Annual Per SF | $35.50 |
| Taxes | |
|---|---|
| Annual | $20,500 |
| Annual Per SF | $3.42 |
| Operating Expenses | |
|---|---|
| Annual | $54,750 |
| Annual Per SF | $9.13 |
| Total Expenses | |
|---|---|
| Annual | $75,250 |
| Annual Per SF | $12.54 |
| Net Operating Income | |
|---|---|
| Annual | $137,750 |
| Annual Per SF | $22.96 |
Property Facts
| Price | $1,650,000 | Property Subtype | Apartment |
| Price Per Unit | $68,750 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.47 AC |
| Cap Rate | 8.35% | Building Size | 6,000 SF |
| Sale Conditions | 1031 Exchange | No. Stories | 3 |
| No. Units | 24 | Year Built | 1968 |
| Property Type | Multifamily |
| Price | $1,650,000 |
| Price Per Unit | $68,750 |
| Sale Type | Investment |
| Cap Rate | 8.35% |
| Sale Conditions | 1031 Exchange |
| No. Units | 24 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | B |
| Lot Size | 0.47 AC |
| Building Size | 6,000 SF |
| No. Stories | 3 |
| Year Built | 1968 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 8 | - | - |
| 2+1 | 16 | - | - |
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3% Listing Company, LLC
3544 Kimberly Downs Rd
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