CBRE is pleased to offer for sale Cumberland House, a 32-unit multifamily community located in Bettendorf, Iowa. Cumberland House offers a new investor a unique opportunity to acquire a property that recently transitioned from LIHTC/Senior to Market-Rate - no further restrictions apply. Management is leasing vacant one-bedroom units for $795 plus a $50 utility fee and two-bedroom units for $895 plus a $50 utility fee. Built in 1999, the property features a mix of 25 one bedrooms and 7 two bedrooms. The elevator served building has common area laundry, a large community room with a full kitchen, and an on-site leasing office. Cumberland House is well located in Bettendorf near an abundance of retail, across the street from the Bettendorf Public Library, and is situated directly between the Bettendorf Middle School and High School. The property is surrounded by strong demographics, including an average median income over $107,600 and average home value over $358,600 within a 3 mile radius. CLICK HERE for more information: https://www.cbredealflow.com/buyer/agreement?pv=ZHmYHBG475miv_S3AuEksUKnrJrhcZFFsVdfExVR8FZQJxwVAlNdR0F0BxsLsDqB Address: 2365 Tech Drive, Bettendorf, IA 52722 Year Built: 1999 No. of Units: 32 Unit Mix: 25 - 1BR/1BA; 7 - 2BR/1BA Parcel Size: 1.00 acre Construction: Wood frame Exterior Materials: Vinyl siding (new in 2025) Windows: Vinyl Heating: Boiler Cooling: Sleeve A/C units Utilities: Resident pays electric within their unit. Owner pays gas (heat), water, sewer, trash, and common area electric. New residents are billed back a $50/month utility fee. Parking: Surface Building Amenities: Elevator, community room with full kitchen, on-site leasing office, on-site beauty shop, and large community deck Cumberland House recently transitioned from LIHTC/Senior to Market-Rate - no further restrictions apply Management is leasing vacant one-bedroom units for $795 plus a $50 utility fee and two-bedroom units for $895 plus a $50 utility fee