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The Overlook & The Ridge

2 Multifamily Properties Offered at $7,500,000 in Clinton, IA

Executive Summary

Marcus & Millichap is pleased to present The Overlook & The Ridge Apartment Homes in Clinton, IA. This attractive property features 122 multifamily units spread across five buildings, conveniently located along the Mississippi River & the Iowa/Illinois border. This terrific location offers easy access to the Quad Cities region — a bi-state (Iowa & Illinois) family of communities along the world-renowned Mississippi riverfront, often regarded as the heart of the midwest. The Overlook & The Ridge boasts a range of amenities designed to enhance the living experience for residents. Each spacious unit comes with A/C, high-speed internet access, walk-in closets, patio/balcony, and a dishwasher/range/refrigerator. Approximately 85 percent of the units have been updated with new flooring, countertops, appliances, light fixtures, and paint. The property offers on-site, coin-operated laundry facilities, providing added convenience and comfort. Additionally, ample parking is available with approximately 1.6 parking spaces per unit, ensuring residents have plenty of space for their vehicles. The property has seen significant capital improvements, including a new parking lot, new siding, soffits and facia, all new landscape layout and design, new sidewalks, new common area lights, newer roof (approximately five years old), and all new windows within the last 10 years.

Property Facts

Price $7,500,000
Price / SF $71.53 / SF
Cap Rate 6.57%
Sale Type Investment
Status Active
Number of Properties 2
Individually For Sale 0
Total Building Size 104,854 SF
Total Land Area 24.55 AC

Properties

Property Name / Address Property Type Size Year Built Individual Price
The Overlook
850 First Ave, Clinton, IA 52732
Multifamily 65,254 SF 1965 -
The Ridge
202 N Bluff Blvd, Clinton, IA 52732
Multifamily 39,600 SF 1968 -
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  • Listing ID: 31713901

  • Date on Market: 5/6/2024

  • Last Updated:

  • Address: The Overlook & The Ridge, Clinton, IA

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