Rivendell Apartments 924 State St Immeuble residentiel 28 lots 1 470 845 € (52 530 €/Lot) Taux de capitalisation 7,65 % Bettendorf, IA 52722

Rivendell Apartments is a 28-unit multifamily community located in Bettendorf, Iowa—part of the Quad Cities metropolitan area. The property features a unit mix of 22 one-bedroom and 6 two-bedroom apartments, offering layouts that cater to a broad renter base and support efficient leasing operations. Positioned in a central Bettendorf location, Rivendell benefits from river views in select units and direct access to the Mississippi Riverfront Trail, providing residents with walkable access to scenic outdoor recreation and regional bike paths.
The property includes on-site parking and laundry facilities, supporting day-to-day tenant convenience and streamlined management. Units feature practical layouts and desirable amenities that have historically contributed to strong occupancy. The building’s manageable size allows for operational flexibility while maintaining a clean, functional environment. Its location near commercial corridors, grocery stores, and public parks enhances overall accessibility and appeal.
Bettendorf is known throughout the region for its well-maintained infrastructure, highly ranked public services, and safe, well-connected neighborhoods. Area highlights such as the Family Museum, Splash Landing water park, and a comprehensive parks and trail system make the city a desirable place to live. Residents of Rivendell Apartments also enjoy proximity to major Quad Cities destinations—including downtown Davenport, Moline, and Rock Island—providing easy access to employment hubs, higher education institutions, healthcare, shopping, and entertainment. Educational institutions like Palmer College of Chiropractic, St. Ambrose University, and Augustana College help support a consistent rental base and drive traffic throughout the submarket.
As part of the Quad Cities MSA, home to more than 470,000 residents, Bettendorf benefits from a diverse and stable regional economy anchored by major employers such as John Deere (global HQ), Rock Island Arsenal, Genesis Health System, UnityPoint Health, Arconic, Tyson, and Amazon. The metro is well-connected via Interstates 74, 80, and 88, along with the Quad Cities International Airport, offering logistical advantages for businesses and convenience for residents. With its blend of location, economic drivers, and consistent operational history, Rivendell Apartments presents a compelling opportunity to acquire a well-maintained multifamily asset in one of the Midwest’s most reliable and accessible rental markets.
Broker of Record:
Jon Ruzicka, Broker of Record, Lic #: B63379000
Marcus & Millichap, 1601 Utica Avenue South, Suite 301, Minneapolis, MN 55416
P: (952) 852-9700