Three-Unit Triplex with Garden
For Sale
Contact for pricing
1012 Bridge Ave, Davenport, IA 52803
Professionally managed triplex with two leased units and a vacant garden-level apartment.
Property Size1,536 SF
Price / SF$104.10
Days on Market145
Property Features for 1012 Bridge Ave
General Information
Standard status
Active
Size
1,536 SF
Property subtype
Multifamily
Additional Details
Multifamily Units
3
Building Details
Year Built
1900
Listing Agency:
EXIT Realty Fireside
Listed By:
Scott Ryder
Source:
Crexi
Added: May 25
Changed: Oct 14
Last Checked: Oct 14 at 11:54PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of EXIT Realty Fireside
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Investment Insights
Based on property information with market context.
This 1,536-square-foot triplex, built in 1900, includes three residential units across the main, upper, and garden levels. The main-floor apartment has two bedrooms and is leased, while the upstairs unit is also occupied. The garden-level apartment is vacant and available for showing. Off-street parking serves the property, which is professionally managed.
Located at 1012 Bridge Ave in Davenport, the property is within 5 miles of MercyOne Hospital, Palmer Chiropractic College, The Village of East Davenport, Downtown Davenport, and The Hilltop District. The reported cap rate is close to 10%, and tenant notice requirements apply to units #1 and #2.
Located at 1012 Bridge Ave in Davenport, the property is within 5 miles of MercyOne Hospital, Palmer Chiropractic College, The Village of East Davenport, Downtown Davenport, and The Hilltop District. The reported cap rate is close to 10%, and tenant notice requirements apply to units #1 and #2.
Key Highlights
- Three‑unit property with 1,536 SF of total building area
- Main‑floor unit has 2 bedrooms and is currently rented
- Upstairs unit is occupied and currently rented
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,725
Cap Rate
8.58%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$274,500
$274.5K
Cap Rate 7%
$196,071
$196.1K
Cap Rate 9%
$152,500
$152.5K
Market Conditions
NOI Build-Up for 1,536 SF
Gross rent
$21.2K $13.80/SF
− Vacancy
−$1.6K −$1.04/SF
EGI
$19.6K $12.77/SF
− OpEx
−$5.9K −$3.83/SF
NOI
$13.7K $8.94/SF
Area
Davenport, IA
Vacancy
7.50%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$274,500
Cap Rate 7%
$196,071
Cap Rate 9%
$152,500
Alternative Uses
Best Use
Multifamily LT 5
$196.1K
$171.6K – $228.8K
NOI $13,725 @ 7.0% cap · market cap 8.58%
Second Best
Apartment 5plus
$176.4K
$154.4K – $205.9K
NOI $12,351 @ 7.0% cap · market cap 7.72%
Theoretical Best
Office A
$331.5K
$290.1K – $386.8K
NOI $23,207 @ 7.0% cap · market cap 14.51%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
497
Businesses Nearby
Explore this area
Business Placement
Demographics for 52803, IA
22,896
Population
10,427
Households
2.2
Avg Household Size
34
Median Age
35%
College-Educated
93%
High-School Grad
5.1 sq mi
ZIP Area
4,489
Density / Sq Mi
$61,082
Median Household Income
$32,163
Median Earnings
$871
Median Rent
$157,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Triplex - Professionally managed triplex with two leased units and a vacant garden-level apartment.
Where is this triplex located?
The property is located at 1012 Bridge Ave Davenport, IA.
What is the asking price?
The asking price for this property is $159,900.
What are key features of this property?
This property features: Three‑unit property with 1,536 SF of total building area; Main‑floor unit has 2 bedrooms and is currently rented; Upstairs unit is occupied and currently rented
