Hendrix 33 Apartments 4406 North Division Street

CBRE is pleased to offer the opportunity to acquire Hendrix 33 Apartments, a 33-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.

Hendrix 33 consists of two buildings featuring 15 one-bedroom, one-bathroom floor plans and 18 two-bedroom, one-bathroom floor plans. Majority of units have been renovated to include stainless steel appliances, LVP flooring, new countertops, new lighting fixtures and new plumbing fixtures. Approximately $700,000 has been invested in property improvements since 2022.

Please click here for more information: https://www.cbredealflow.com/buyer/agreement?pv=ChgsC1TVJRpENROutuy66Oo5kddkMz4KaTjihLOSRCUiyw-ILcS5V_RInAIc7TDh

Address: 4406 N Division St, Davenport, IA 52806
List Price: $2,350,000
Cap Rate: 8.53%
Year Built: 1973
Number of Units: 33
Unit Mix: 15-1BR/1BA; 18-2BR/1BA
Total Building SF: 24,525
Avg. In Place Rent: $842
Number of Buildings: 2
Number of Stories: 3
Parking: Surface
Parcel Size: 1.15 acres