17 Kensington Heights Rd - Apartments FOR SALE


Belleville, IL 62226
$2,500,000 USD
618-606-3829
17 Kensington Heights Rd, Belleville, IL for Sale
$2,500,000 USD
Apartments - FOR SALE
1/23
null | 8.99% Cap Rate

17 Kensington Heights Rd
Belleville, IL 62226


HIGHLIGHTS

  • Stabilized property with 97% occupancy.
  • VALUE ADD OPPORTUNITY to renovate remaining 28 units and raise rent by 30%.

OVERVIEW

This property represents a premier investment opportunity with significant upside potential. The stabilized occupancy of 100% ensures a reliable income stream, while the recent renovations of 8 units demonstrate the potential for increased rental income. With 28 units available for renovation, there is substantial value-add potential, allowing investors to further enhance the property’s income-generating capabilities. Stabilized property with 100% occupancy. 8 units renovated in the past year and rented out for as much as $975 per month. VALUE ADD OPPORTUNITY to renovate remaining 28 units and raise rent by 30%. $69,440 per unit. All units are 2 BDs 1 BA. 75 Parking Spaces. Parking Lot repaired, striped, and sealed in 2023. New exterior light fixtures installed in 2023.

FOR SALE DETAILS

PRICE

$2,500,000 USD

PRICE/SF

$62 USD /SF

# OF UNITS

36

PRICE/UNIT

$69,444

CAP RATE

8.99%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Kensington Heights Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1979

PARKING SPACES

75

LAND DETAILS

LAND ACRES

1.23 AC

LAND SF

53,579 SF

ZONING

Multi-Family

APN/PARCEL ID

08-18.0-108-006,08-18.0-108-007

ASK ABOUT THIS PROPERTY

Brendan BaroneKunkel Commercial GroupMore Info
618-606-3829

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Brendan BaroneKunkel Commercial GroupMore Info
618-606-3829

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.