Maplewood Apartments Davenport, IA

Access CA / Doc Center

Maplewood Apartments

Address

322 West 65th Street
Davenport, IA 52806

Summary

  • Units 204
  • Year Built 1977

Davenport, IA

  • Well-Positioned Asset Ready For Further Value-Add Implementation
  • Upgrade Premiums of $115+/Unit With Strategic Interior Enhancements
  • Demonstrated Value-Add Upside In The Submarket
  • Prominent Major Highway Visibility And Interstate Accessibility
  • Convenient Location Proximate To Both Retail And Job Centers
  • Strong Foundation For Continued Repositioning
  • Attractive Basis Given Property Condition And Strong Submarket
  • Offered Free And Clear Of Any Existing Debt

Well-Positioned Asset Ready for Further Value-Add Implementation 

Current ownership has recently invested a significant amount of capital in the property. More than $750,000 has been invested in renovating unit interiors, replacing all of the roofs and improving curb appeal. The recent capital expenditures allow for new ownership to focus on driving top-end rental growth with interior upgrades to the remaining classic units.

Upgrade Premiums of $115+/Unit with Strategic Interior Enhancements 

Maplewood Apartments offers 157 classic unit interiors (77%) that are prime for modernization. 47 units received upgrades in a recent renovation phase that is nearing completion. These upgraded units showcase the potential for increasing revenue by renovating the existing classic units. Premiums of more than $115/unit/month can be achieved with cosmetic upgrades. 

Demonstrated Value-Add Upside in the Submarket 

Nearby comparable properties have successfully executed on property and unit upgrades, demonstrating the viability of rent upside in the submarket. Given the rental rate achieved by similar renovated properties in the submarket, the potential for increased revenue from the existing classic units at Maplewood Apartments is immense.  

Upgraded comparable properties nearby are achieving average rental rates of nearly $115/mo. above in-place rents at Maplewood Apartments, presenting great potential for new ownership to increase rents through strategic unit interior renovations.

Location Map

Amenities

Tenant Services

UNIT AMENITIES

  • Updated Kitchens
  • Dishwasher
  • Plush Carpet
  • Spacious Bedrooms
  • Large Closets
  • Bright Windows
  • Balcony

COMMON AREA AMENITIES

  • Laundry in Each Building
  • Fenced Playground
  • Picnic Area
  • Off-Street Parking
  • Secure Buildings
  • On-Site Maintenance 
  • Nearby Bus Route

Team

When evaluating your options for a partner to assist with the sale of your multifamily asset, there are a number of factors you may consider. From experience and market knowledge to marketing prowess and ongoing support, each plays an integral role in creating a positive experience and a profitable outcome. Yet the one competency you may never have considered could be the one that matters most: the ability to move capital across markets efficiently and effectively.

MMG possesses a unique combination of talent, resources, expertise, and access that delivers an elevated experience from acquisition to disposition. Discover the benefits of a partnership with us.

BJ Connolly

Senior Director
MMG REA
515.770.8431 bj.connolly@mmgrea.com

Noah Basham

Associate
MMG REA
501.554.9462 noah.basham@mmgrea.com

Kyle Winston

Senior Advisor
MMG REA
913.375.8254 kyle.winston@mmgrea.com

Brett Meinzer

Managing Director
MMG REA
816.516.8515 brett.meinzer@mmgrea.com

Michael Sullivan

Executive Managing Director/Founding Partner
MMG REA
913.484.7923 michael.sullivan@mmgrea.com

Alex Blagojevich

Executive Managing Director/Founding Partner
MMG REA
773.899.0391 alex.blagojevich@mmgrea.com

Scott Reid

In Association With ParaSell, Inc.
949.924.6578 scott@parasellinc.com

IN ASSOCIATION WITH

Scott Reid
ParaSell Inc.
A LICENSED IOWA BROKER #F06134000

Get In Touch

Address

MMG Real Estate Advisors

601 Westport Road

Kansas City, MO 64111