1119 4Th AveRock Island, IL 61201

Property Details for 1119 4Th Ave

Year built

1909

Property size (Sq ft)

15,273 SF

Zone code

RI

Property type

Commercial real estate

APN

07-34-426-012

APU

734426012

Description

This stabilized, 19-unit apartment building presents a compelling investment opportunity. Located at 1119 4th Ave, Rock Island, IL 61201, the Prestin Building boasts 15,273 square feet across three stories in a single building on a 0.28-acre lot. Built in 1909, this Class C property currently enjoys 90% occupancy (as of August 31, 2024), generating a Net Operating Income (NOI) of $66,433. The building features a mix of 10 one-bedroom units, eight efficiency units, and one two-bedroom unit, appealing to a diverse tenant base. With five parking spaces available, the property benefits from its prime location, just blocks from Rock Island's city center and the Centennial Bridge, providing easy access to Davenport, IA. The surrounding area offers a strong demographic profile, with a population of 160,000 within a 5-mile radius, and 40% of households renter-occupied. The Davenport multifamily market exhibits vacancy rates below the national average, and rental rates are experiencing rapid growth, presenting potential for increased cash flow through lease-up and strategic unit improvements. The asking price is $850,000. The property's APN is 07-34-426-012.

• Alternative Use

  Use

  Valuation

  Residential

  $3,156,530

  Hospitality

  $2,891,365

  Educational

  $2,405,582

  Medical

  $2,488,313

  Retail

  $3,742,016

Location Insight

City

Rock Island

County

Rock Island

State

Illinois

Latitude

41.5074

Longitude

-90.5835

CBSA code

19340

CBSA name

DAVENPORT-MOLINE-ROCK ISLAND, IA-IL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].