1119 4th Ave Rock Island, IL 61201-8400
- Commercial real estate
- 15,273 SF
Current Use by Public Records
- Fatbook / Lapidary
Property Details for 1119 4th Ave
- Year built
- 1909
- Property size
- 15,273 SF
- Zone code
- RI
- Property type
- Commercial real estate
- APN
- 07-34-426-012
- APU
- 734426012
Description
This stabilized, 19-unit apartment building presents a compelling investment opportunity. Located at 1119 4th Ave, Rock Island, IL 61201, the Prestin Building boasts 15,273 square feet across three stories in a single building on a 0.28-acre lot. Built in 1909, this Class C property currently enjoys 90% occupancy (as of August 31, 2024), generating a Net Operating Income (NOI) of $66,433. The building features a mix of 10 one-bedroom units, eight efficiency units, and one two-bedroom unit, appealing to a diverse tenant base. With five parking spaces available, the property benefits from its prime location, just blocks from Rock Island's city center and the Centennial Bridge, providing easy access to Davenport, IA. The surrounding area offers a strong demographic profile, with a population of 160,000 within a 5-mile radius, and 40% of households renter-occupied. The Davenport multifamily market exhibits vacancy rates below the national average, and rental rates are experiencing rapid growth, presenting potential for increased cash flow through lease-up and strategic unit improvements. The asking price is $850,000. The property's APN is 07-34-426-012.
Value Estimations
-
AI approach
- Method
- Estimation
- ML approach
- $255,000
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Location Insight
- Map
- Local Demand
- City
- Rock Island
- County
- Rock Island
- State
- Illinois
- Longitude
- -90.5835
- Latitude
- 41.5074
- CBSA code
- 19340
- CBSA name
- DAVENPORT-MOLINE-ROCK ISLAND, IA-IL METROPOLITAN STATISTICAL AREA
