924-932 State St - Apartments FOR SALE


Bettendorf, IA 52722- Outer Davenport/Bettendorf
$1,590,000 USD
847-533-0613
924-932 State St, Bettendorf, IA for Sale
$1,590,000 USD
Apartments - FOR SALE
1/10
null | 6.3% Cap Rate

924-932 State St
Bettendorf, IA 52722
Outer Davenport/Bettendorf


HIGHLIGHTS

  • 28 Units | Available Individually or as a Portfolio

OVERVIEW

Marcus & Millichap is pleased to present Rivendell Apartments, a 28 unit multifamily asset located in Bettendorf, Iowa, a high-demand submarket within the thriving Quad Cities metro. The property includes 22 one-bedroom and 6 two-bedroom units, offering a practical layout for a variety of tenant profiles. Positioned just steps from the riverfront trail, select units offer views of the Mississippi River, enhancing the property’s curb appeal and tenant experience. Residents benefit from on-site parking, shared laundry facilities, and close proximity to local retail, restaurants, parks, and public services, all within a highly accessible location. Bettendorf continues to attract renters seeking a blend of suburban lifestyle and urban connectivity. The city is known for its top-rated schools, low crime rates, and family-friendly amenities, making it an appealing environment for long-term residency. Nearby institutions such as Palmer College of Chiropractic, St. Ambrose University, and Augustana College support a steady demand base from both students and professionals. Additionally, the property’s location near major roadways allows for efficient commutes across the Quad Cities, reinforcing strong historical occupancy and stable operational performance. With a metropolitan population exceeding 470,000, the Quad Cities region is anchored by a diverse economy spanning manufacturing, healthcare, logistics, and education. The area is home to major employers such as John Deere, Rock Island Arsenal, Genesis Health System, UnityPoint Health, Hy-Vee, Amazon, Arconic, and Kraft Heinz. These companies have chosen the region for its affordability, modern infrastructure, and central location—factors that continue to drive job growth and housing demand. Rivendell Apartments offers investors the opportunity to acquire a well-maintained, income producing asset in one of the Midwest’s most resilient and opportunity-rich rental markets.

FOR SALE DETAILS

PRICE

$1,590,000 USD

PRICE/SF

$91 USD /SF

# OF UNITS

28

PRICE/UNIT

$56,786

CAP RATE

6.3%

% LEASED

89%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Rivendell Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1951

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.81 AC

LAND SF

35,284 SF

ZONING

-

APN/PARCEL ID

84295912416

ASK ABOUT THIS PROPERTY

Yianni MouflouzelisMarcus & MillichapMore Info
847-533-0613

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Yianni MouflouzelisMarcus & MillichapMore Info
847-533-0613

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.