For Sale
$850,000
1119 4Th Ave Rock Island, IL 61201
19-unit apartment building, high occupancy.
Overview
- Added:
- Dec 11, 2024
- Days on market:
- 133
Highlights
- 1119 4th Avenue, Rock Island, IL, also known as the Prestin Building, is a 19-unit multifamily property totaling 15,273 square feet.
- The property enjoys a prime location near downtown Rock Island and the Centennial Bridge, providing easy access to Davenport, IA.
- This value-add opportunity boasts 90% occupancy (as of August 31, 2024) and offers potential for increased cash flow through lease-up and renovations.
- The Davenport multifamily market features below-average vacancy rates and strong rental rate growth.
- The property benefits from a strong demographic profile, with 160,000 people within a 5-mile radius and a 40% renter-occupied household rate.
- The unit mix includes 10 one-bedroom, eight efficiency, and one two-bedroom unit, appealing to a diverse tenant base.
Property Details for 1119 4Th Ave
- Property type
- Apartment buildings
- Square Feet
- 15,273 SF
- Class
- C
- Year Built
- 1909
- Buildings
- 1
- Stories
- 3
- Lot Size (sq. ft)
- 12,197 SF
- Units
- 19
Location Insight
- City
- Rock Island
- County
- Rock Island
- State
- Illinois
- Latitude
- 41.5073421
- Longitude
- -90.5836082
Nearby Similar for Sale
FAQs
- What type of property is this?
- Apartment building - 19-unit apartment building, high occupancy.
- Where is the apartment building located?
- The property is located at 1119 4Th Ave Rock Island, IL.
- What is the asking price?
- The asking price for this property is $850,000.
- What are key features of this property?
- This property features: 1119 4th Avenue, Rock Island, IL, also known as the Prestin Building, is a 19-unit multifamily property totaling 15,273 square feet.; The property enjoys a prime location near downtown Rock Island and the Centennial Bridge, providing easy access to Davenport, IA.; This value-add opportunity boasts 90% occupancy (as of August 31, 2024) and offers potential for increased cash flow through lease-up and renovations.
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