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Multifamily

Nottingham on the Bluff

202 N Bluff Blvd, Clinton, IA 52732

Listing Price: $1,900,000

Cap Rate
5.86%
Number of Units
56
GRM
5.24
Occupancy
92.5%
Price/Unit
$33,929
Price/Gross SF
$59.56
Gross SF
31,900

Investment Overview

Marcus & Millichap is pleased to present Nottingham on the Bluff apartments. Nottingham on the Bluff is a 56-unit California-style apartment complex located in Clinton, Iowa. Clinton is approximately 35 miles northeast of the Quad Cities of the Mid-Mississippi Valley (Davenport, IA; Bettendorf, IA; Rock Island, IL; East Moline, IL). Clinton is a river town located along the Mississippi with a rich history of industrious innovators. Once a prosperous logging town, Clinton is now a prime location for industrial and commercial development and the home to many national and local businesses. The subject property has continued to hold a low vacancy rate due to long-term tenancy.
Nottingham on the Bluff consists of nine studio units (approximately 400 square feet), 23 one-bedroom / one-bathroom units (approximately 500 square feet), and 24 two bedroom / one-bathroom units (approximately 600 square feet). These units feature air conditioning, walk-in closets, and a patio/balcony. The complex contains on-site coin-operated washers and dryers.
Here, an investor has an opportunity to purchase this stable, 56-unit apartment complex with the opportunity to achieve above average cash-on-cash returns.

Investment Highlights

  • Convenient Location
  • Long-Term Tenants
  • Strong Unit Mix
  • Coin-Operated Laundry

Broker of Record

  • Jon Ruzicka

    First Vice President Investments

    License(s): IA: B63379000

    Iowa

Multifamily

Nottingham on the Bluff

Listing Price: $1,900,000

Cap Rate
5.86%
Number of Units
56
GRM
5.24
Occupancy
92.5%
Price/Unit
$33,929
Price/Gross SF
$59.56
Gross SF
31,900

Investment Highlights

  • Convenient Location
  • Long-Term Tenants
  • Strong Unit Mix
  • Coin-Operated Laundry

Investment Overview

Marcus & Millichap is pleased to present Nottingham on the Bluff apartments. Nottingham on the Bluff is a 56-unit California-style apartment complex located in Clinton, Iowa. Clinton is approximately 35 miles northeast of the Quad Cities of the Mid-Mississippi Valley (Davenport, IA; Bettendorf, IA; Rock Island, IL; East Moline, IL). Clinton is a river town located along the Mississippi with a rich history of industrious innovators. Once a prosperous logging town, Clinton is now a prime location for industrial and commercial development and the home to many national and local businesses. The subject property has continued to hold a low vacancy rate due to long-term tenancy.
Nottingham on the Bluff consists of nine studio units (approximately 400 square feet), 23 one-bedroom / one-bathroom units (approximately 500 square feet), and 24 two bedroom / one-bathroom units (approximately 600 square feet). These units feature air conditioning, walk-in closets, and a patio/balcony. The complex contains on-site coin-operated washers and dryers.
Here, an investor has an opportunity to purchase this stable, 56-unit apartment complex with the opportunity to achieve above average cash-on-cash returns.

Broker of Record

  • Jon Ruzicka

    First Vice President Investments

    License(s): IA: B63379000

    Iowa

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