8-Unit Brick Apartment
For Sale
$645,900
2516 & 2520 Eastview, Belleville, IL 62221
Each residence has a two-story plan, private patio area, and off-street parking.
Property Size7,280 SF
Price / SF$88.72
Days on Market76
Property Features for 2516 & 2520 Eastview
General Information
Standard status
Active
Size
7,280 SF
Property subtype
Residential Income
Occupancy
100%
Financials
Asking Price
$645,900
Gross Income
$90,600
Units
Unit Mix
8 x 2BR/1.5BA
Multifamily Units
8
Additional Details
Tenant in Place
Yes
Amenities
private patio
Building Details
Building Size
7,280 SF
Year Built
1978
Buildings
2
Stories
2
Units
4
Construction
brick
Listing Agency:
Kunkel Wittenauer Group, Inc
(618) 632-8200
Listed By:
Jeff Franke · License #475123599
(618) 792-9693
Source:
Flowershomerealty
Added: Aug 18
Changed: Oct 29
Last Checked: Oct 29 at 11:16PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Kunkel Wittenauer Group, Inc
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Investment Insights
Based on property information with market context.
Two brick apartment buildings in Belleville contain eight residences across approximately 7,280 square feet. Each unit has two bedrooms and 1.5 baths, with living space and a half bath on the main floor and two bedrooms plus a full bath upstairs. Individual patio areas and off-street parking serve the property. Several apartments have been remodeled, and some patios have newer privacy fencing.
Built in 1978, the property is fully occupied, with all eight apartments leased. Tenants pay utilities. Exterior work completed in 2021 included replacement of the roofs, gutters, fascia, and soffits.
Built in 1978, the property is fully occupied, with all eight apartments leased. Tenants pay utilities. Exterior work completed in 2021 included replacement of the roofs, gutters, fascia, and soffits.
Key Highlights
- Eight apartments arranged in two four‑unit brick buildings
- Approximately 7,280 square feet; built in 1978
- Each unit has 2 bedrooms, 1.5 baths, and a two‑story layout
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$54,083
Cap Rate
8.37%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,081,660
$1.1M
Cap Rate 7%
$772,614
$772.6K
Cap Rate 9%
$600,922
$600.9K
Market Conditions
NOI Build-Up for 7,280 SF
Gross rent
$104.8K $14.40/SF
− Vacancy
−$6.5K −$0.89/SF
EGI
$98.3K $13.51/SF
− OpEx
−$44.2K −$6.08/SF
NOI
$54.1K $7.43/SF
Area
St. Clair County, IL
Vacancy
6.20%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,081,660
Cap Rate 7%
$772,614
Cap Rate 9%
$600,922
Alternative Uses
Best Use
Apartment 5plus
$772.6K
$676.0K – $901.4K
NOI $54,083 @ 7.0% cap · market cap 8.37%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.72M
$1.51M – $2.01M
NOI $120,641 @ 7.0% cap · market cap 18.68%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
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Lease Details
8
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
263
Businesses Nearby
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Business Placement
Demographics for 62221, IL
29,039
Population
12,460
Households
2.3
Avg Household Size
38
Median Age
37%
College-Educated
96%
High-School Grad
35.0 sq mi
ZIP Area
830
Density / Sq Mi
$78,619
Median Household Income
$45,353
Median Earnings
$1,078
Median Rent
$207,200
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Apartment building - Each residence has a two-story plan, private patio area, and off-street parking.
Where is this apartment building located?
The property is located at 2516 & 2520 Eastview Belleville, IL.
What is the asking price?
The asking price for this property is $645,900.
What are key features of this property?
This property features: Eight apartments arranged in two four‑unit brick buildings; Approximately 7,280 square feet; built in 1978; Each unit has 2 bedrooms, 1.5 baths, and a two‑story layout
