Skip to main content

Multifamily

Hawthorne Woods

1261 Gateway Ave, Clinton, IA 52732

Listing Price: $5,800,000

Cap Rate
7.21%
Number of Units
116
GRM
6.68
Occupancy
92.5%
Price/Unit
$50,000
Price/Gross SF
$81.34
Gross SF
71,310

Investment Overview

Marcus & Millichap is pleased to present Hawthorne Woods apartments. Hawthorne Woods is a 116-unit 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. Hawthorne Woods consists of six studio units (approximately 360 square feet), 39 one-bedroom / one-bathroom units (approximately 500 square feet), 49 two-bedroom / one-bathroom units (approximately 600 square feet) and 22 three-bedroom / one-and-three-quarter bathroom units (approximately 925 square feet). These units feature air conditioning, walk-in closets, and a patio/ balcony. On-site the complex contains 16 two-car garages and four laundry facilities with coin-operated washers and dryers. Here, an investor has an opportunity to purchase this stable, 116-unit apartment complex with the opportunity to achieve above average cash-on-cash returns.

Investment Highlights

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

Broker of Record

  • Jon Ruzicka

    First Vice President Investments

    (952) 852-9700

    License(s) IA: B63379000

    Iowa

Listing Price: $5,800,000

Cap Rate
7.21%
Number of Units
116
GRM
6.68
Occupancy
92.5%
Price/Unit
$50,000
Price/Gross SF
$81.34
Gross SF
71,310

Investment Highlights

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

Investment Overview

Marcus & Millichap is pleased to present Hawthorne Woods apartments. Hawthorne Woods is a 116-unit 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. Hawthorne Woods consists of six studio units (approximately 360 square feet), 39 one-bedroom / one-bathroom units (approximately 500 square feet), 49 two-bedroom / one-bathroom units (approximately 600 square feet) and 22 three-bedroom / one-and-three-quarter bathroom units (approximately 925 square feet). These units feature air conditioning, walk-in closets, and a patio/ balcony. On-site the complex contains 16 two-car garages and four laundry facilities with coin-operated washers and dryers. Here, an investor has an opportunity to purchase this stable, 116-unit apartment complex with the opportunity to achieve above average cash-on-cash returns.

Broker of Record

  • Jon Ruzicka

    First Vice President Investments

    (952) 852-9700

    License(s): IA: B63379000

    Iowa

MM Texture Background
MM Textured Background Lower