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    1536 W Locust

    Davenport, IA 52804
    • $180,000
    • STATUS: Active
    • ON SITE: 289 days
    • ID#: QC4214993
    UPDATED: 52 min ago
    $180,000
    • 0
      BEDS
    • 0.21
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Commercial
    Built:
    1920
    County:
    Area:

    School Ratings & Info

    Description

    Great investment opportunity. Priced at almost an 11% CAP rate and an 18% cash on cash return. Highly visible building on W. Locust St with average daily traffic counts of 15,600. Mixed use space with 2400 sq ft commercial space on main floor and two 1,200 sq ft residential units on the 2nd floor. Currently commercial space is leased for $1,300 per month and one residential unit is rented for $675 per month. 2nd residential unit is currently vacant so it can be shown, but a 1 yr lease starting Feb. 1st, 2021 for $725 per month was just signed. Basement is currently common space for all tenants with coin operated laundry. Commercial tenant also has access to private storage space. 3rd floor attic offers further storage potential. Off street parking in rear lot provides 12 parking spaces.

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    © 2021 RMLS Alliance, LLC. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or The Real Estate Group. Data last updated: 2021-06-21T18:45:01.513.
    www.killebrewre.com/homes/109704402
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    1536 W Locust Davenport, IA 52804

    • Price: $180,000
    • Status: Active
    • Updated: 52 min ago
    • ID#: QC4214993
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.21
    Acres
    1920
    Built
    Neighborhood:
    Qcara Area
    County:
    Scott
    Area:
    Qcara Area
    Property Description
    Great investment opportunity. Priced at almost an 11% CAP rate and an 18% cash on cash return. Highly visible building on W. Locust St with average daily traffic counts of 15,600. Mixed use space with 2400 sq ft commercial space on main floor and two 1,200 sq ft residential units on the 2nd floor. Currently commercial space is leased for $1,300 per month and one residential unit is rented for $675 per month. 2nd residential unit is currently vacant so it can be shown, but a 1 yr lease starting Feb. 1st, 2021 for $725 per month was just signed. Basement is currently common space for all tenants with coin operated laundry. Commercial tenant also has access to private storage space. 3rd floor attic offers further storage potential. Off street parking in rear lot provides 12 parking spaces.
    Exterior Features

    Exterior Finish Other Exterior Finish Frontage Access City Street Garages No Irregular Lot 0 Loading Dock 0 Roof Construction Asphalt/Fiberglass Wall Construction Frame

    Interior Features

    Common Laundry Yes Cooling Wall/Window Flooring CarpetedTile/VinylWood Heating GasRadiant/Base Individual Laundry No Insulation Unknown

    Property Features

    100 Year Flood Plain No Annual Taxes 2970 Building Description 3 StoryBasementMulti-Tenant Exemptions None For Lease No For Sale Yes Foreclosure No Handicap Modified No Location Neighborhood Net Operating Income 0 Number Of Buildings 1 Owner Pays HeatingReal Estate TaxesSnow/LawnTrashWater/Sewer Ownership L.L.C. Property Use Flex Space Sale Lease Includes Building Sale Rent For Sale Short Sale No Sprinkler No Tax Incentive None Tenant Pays CoolingElectric Terms Lease Month To MonthYearly Total Num Units 2 Type Commercial/Cie Type1 Multi-FamilyOfficeRetail Underground Storage Tank No Water Supply Municipal/City Zoning Commercial

    Listing provided courtesy of Otto Nobis of Ruhl&Ruhl Realtors Davenport.
    © 2021 RMLS Alliance, LLC. All Rights Reserved.


    © 2021 RMLS Alliance, LLC. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or The Real Estate Group. Data last updated: 2021-06-21T18:45:01.513.
     
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