$920,000
$999,900
8.0%For more information regarding the value of a property, please contact us for a free consultation.
11,744 SqFt
SOLD DATE : 12/16/2024
Key Details
Sold Price $920,000
Property Type Commercial
Sub Type Commercial
Listing Status Sold
Purchase Type For Sale
Square Footage 11,744 sqft
Price per Sqft $78
MLS Listing ID QC4256601
Sold Date 12/16/24
Originating Board rmlsa
Year Built 1975
Annual Tax Amount $10,316
Tax Year 2023
Lot Size 0.520 Acres
Acres 0.52
Lot Dimensions 18x31x41x40x169x174x218
Property Description
If you're looking for a fantastic investment, look no further! Right in the heart of Bettendorf, this turnkey 10-unit apartment building has been completely renovated. Each apartment comes with 2 bedrooms, 1 bathroom, & 2 parking spaces. It's been updated with all modern fixtures, including new furnaces & central air units. There's a laundry room with coin-operated machines, & each unit has a storage cage in the basement. Plus, there are separate gas & electric meters for each unit. Current market rate for rent is $995 plus utilities. The location is super convenient too, close to schools & right near I-74, so getting around is a breeze. Projected income for the property stands at $133,490 with rent, laundry, pet fees, & utility recovery offering strong cash flow. There's also an opportunity for value add, with raw space that can be converted into an additional 1-bed apartment for an estimated $70k, potentially generating $775-800 in monthly rent. With full occupancy anticipated in weeks, this property is read to deliver solid returns! Seller is a REALTOR® Licensed in IA, IL & FL.
Location
State IA
County Scott
Area Qcara Area
Zoning Commercial
Direction Middle Rd, North on 18th, West on Shaker Ct to property
Interior
Heating Forced Air, Gas, Individual Unit
Cooling Central Air, Individual Control, Individual Units
Flooring Other
Fireplace N
Exterior
View true
Roof Type Flat,Other
Total Parking Spaces 20
Garage 1
Building
Faces Middle Rd, North on 18th, West on Shaker Ct to property
Sewer Public Sewer
Water Municipal/City
Structure Type Brick,Other,Wood Siding
Others
Tax ID 842119105
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