Investment Overview

Marcus & Millichap is pleased to present Kimberly Downs Apartments, a 24-unit multifamily property located in Davenport, Iowa, within the established and accessible North Side neighborhood of the Quad Cities metro. The property consists of four adjacent low-rise buildings totaling 8 one-bedroom and 16 two-bedroom units, offering a balanced unit mix well-suited to a range of renter needs. Residents benefit from paved off-street parking, on-site laundry, and recent capital improvements, including the full replacement of all four roofs in 2020/2021 and three rebuilt fire escapes. The property is professionally managed and currently operates with stable cash flow and long-term tenancy. The North Side of Davenport is a well-positioned submarket anchored by NorthPark Mall - the largest retail center in the Quad Cities - and surrounded by shopping centers, parks, schools, and medical services. The property is also located near several higher education institutions including St. Ambrose University, Palmer College of Chiropractic, and Augustana College, which contribute to consistent rental demand. Its proximity to major roadways and commercial corridors enables convenient commutes and easy access to broader regional amenities, supporting long-term operational performance. With a metropolitan population exceeding 470,000, the Quad Cities region is underpinned by a diverse economic base that spans healthcare, manufacturing, logistics, and education. Major employers in the area include John Deere, Genesis Health System, UnityPoint Health, Arconic, and the Rock Island Arsenal. These institutions continue to drive employment growth and housing demand, reinforcing the area's reputation as one of the Midwest’s most stable and opportunity-rich rental markets. Kimberly Downs Apartments offers investors the chance to acquire a well-maintained, income-generating asset with operational efficiency and future upside.