4-Unit Quadplex with PTAC
For Sale
Contact for pricing
3907 7th Avenue, Rock Island, IL 61201
Four residential units include separate PTAC systems and a full basement for storage.
Property Size2,400 SF
Price / SF$83.33
Days on Market61
Property Features for 3907 7th Avenue
General Information
Standard status
Active
Size
2,400 SF
Property subtype
Multifamily
Units
Unit Mix
1 x 2BR/1BA, 3 x 1BR/1BA
Multifamily Units
4
Amenities
basement storage
Building Details
Year Built
1910
Buildings
1
Listing Agency:
RE/MAX Concepts
Listed By:
Richard Bassford · License #S42142000/475.142927
(309) 292-3681
Source:
Crexi
Added: Aug 18
Changed: Oct 11
Last Checked: Oct 16 at 8:05AM
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 RE/MAX Concepts
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Investment Insights
Based on property information with market context.
Built in 1910, this four-unit residential property at 3907 7th Avenue in Rock Island contains over 2,400 above-grade square feet. The configuration includes two units on the ground level and two on the upper level, with one 2-bedroom, 1-bathroom unit and three 1-bedroom, 1-bathroom units. Each apartment has its own PTAC cooling system, and the full basement adds storage space.
All four units are currently vacant. The property is located just minutes from Augustana College, providing a nearby institutional anchor for the residential asset.
All four units are currently vacant. The property is located just minutes from Augustana College, providing a nearby institutional anchor for the residential asset.
Key Highlights
- Four‑unit residential building with over 2,400 above‑grade square feet
- Unit mix includes one 2‑bedroom, 1‑bathroom unit and three 1‑bedroom, 1‑bathroom units
- Two ground‑level units and two upper‑level units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,851
Cap Rate
7.93%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$317,020
$317.0K
Cap Rate 7%
$226,443
$226.4K
Cap Rate 9%
$176,122
$176.1K
Market Conditions
NOI Build-Up for 2,400 SF
Gross rent
$24.5K $10.20/SF
− Vacancy
−$1.8K −$0.77/SF
EGI
$22.6K $9.44/SF
− OpEx
−$6.8K −$2.83/SF
NOI
$15.9K $6.60/SF
Area
Rock Island County, IL
Vacancy
7.50%
Lease Rate
$10.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$317,020
Cap Rate 7%
$226,443
Cap Rate 9%
$176,122
Alternative Uses
Best Use
Multifamily LT 5
$226.4K
$198.1K – $264.2K
NOI $15,851 @ 7.0% cap · market cap 7.93%
Second Best
Apartment 5plus
$210.9K
$184.5K – $246.1K
NOI $14,763 @ 7.0% cap · market cap 7.38%
Theoretical Best
Healthcare Medical
$408.7K
$357.6K – $476.9K
NOI $28,611 @ 7.0% cap · market cap 14.31%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
307
Businesses Nearby
Explore this area
Business Placement
Demographics for 61201, IL
37,366
Population
17,459
Households
2.1
Avg Household Size
38
Median Age
22%
College-Educated
90%
High-School Grad
17.9 sq mi
ZIP Area
2,087
Density / Sq Mi
$57,260
Median Household Income
$34,541
Median Earnings
$822
Median Rent
$118,300
Median Home Value
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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?
Quadplex - Four residential units include separate PTAC systems and a full basement for storage.
Where is this quadplex located?
The property is located at 3907 7th Avenue Rock Island, IL.
What is the asking price?
The asking price for this property is $200,000.
What are key features of this property?
This property features: Four‑unit residential building with over 2,400 above‑grade square feet; Unit mix includes one 2‑bedroom, 1‑bathroom unit and three 1‑bedroom, 1‑bathroom units; Two ground‑level units and two upper‑level units
