Pheasantwood Apartments is a 96-unit, garden-style apartment community on 4.95 acres in Belleville, IL. Built in 1980 & 1985, the property includes 64,800 SF throughout 12 buildings.
Well-performing multifamily asset that is primed for rent upside. All units are in classic or near classic condition allowing the opportunity for new ownership to have immediate value-add by updating units and pushing rents further over a new ownership period.
Highlights:
? 96-unit multifamily asset in a quiet tree-lined neighborhood in Belleville
? Below-market rents allowing immediate value-add for new ownership
? Favorable mix of 1 and 2-bedroom floor plan styles
? All units have washer and dryer connections
? Ample parking of 120 spaces
? Belleville’s average household income of $79,952 reflects a solid middle-class foundation with considerable consumer spending power
? Strong in-place cash flow
Property includes the following parcels:
1 Pheasantwood: 62226 08-08.0-420-004
3 Pheasantwood: 62226 08-08.0-420-011
5 Pheasantwood: 62226 08-08.0-420-009
7 Pheasantwood: 62226 08-08.0-420-007
8 Pheasantwood: 62226 08-08.0-420-006
9 Pheasantwood: 62226 08-08.0-420-005
10 Pheasantwood: 62226 08-08.0-420-001
12 Pheasantwood: 62226 08-08.0-420-003
13 Pheasantwood: 62226 08-08.0-419-002
14 Pheasantwood: 62226 08-08.0-419-004
15 Pheasantwood: 62226 08-08.0-419-003
16 Pheasantwood: 62226 08-08.0-419-001
