8-Unit Brick Apartment
2516 & 2520 Eastview, Belleville, IL 62221
For Sale
$645,900
Pending
Residential Income, Belleville, IL
Property Size7,280 SF
Lot Size27,030.00 Acres
Days on Market84
Property Features for 2516 & 2520 Eastview
General Information
Property type
Property subtype
Subdivision
Elementary school
Middle school
High school
Elementary school district
Middle school district
High school district
Directions
Standard status
Size
Lot size
Additional Details
Tenant in Place
Utilities
Utilities
Heating system
Cooling system
Water source
Amenities
patio
off-street parking
Building Details
Year built
Floors in Building
Number of units
Building materials
Architectural style
Buildings
Listing Agency:
Kunkel Wittenauer Group, Inc
(618) 632-8200
Listed By:
Jeff Franke · License IL #475123599
(618) 792-9693
Added: Aug 19
Changed: Nov 5
Last Checked: Nov 10 at 7:06PM
MLS# 26052458
Copyright © 2026 Mid America Regional Information Systems, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 8-unit multifamily property comprises two brick buildings with four residences apiece and 7,280 square feet in total. Each residence has a two-story plan with two bedrooms, 1.5 bathrooms, a kitchen, and a living room. Private patio areas and off-street parking serve the property. Several residences have undergone extensive interior remodeling.
Exterior work completed in 2021 included replacement of the roofs, gutters, fascia, and soffits. Some patios have newer privacy fencing. All eight residences are occupied, and tenants pay their own utilities.
Exterior work completed in 2021 included replacement of the roofs, gutters, fascia, and soffits. Some patios have newer privacy fencing. All eight residences are occupied, and tenants pay their own utilities.
Key Highlights
- Two brick buildings contain 8 residences across 7,280 square feet
- Each residence has 2 bedrooms, 1.5 bathrooms, and a two‑story layout
- All 8 units are occupied; tenants pay utilities
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
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Open Analytics
Lease Details
8
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
263
Businesses Nearby
Explore this area
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 - All eight residences are leased, and tenants pay their own utilities.
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: Two brick buildings contain 8 residences across 7,280 square feet; Each residence has 2 bedrooms, 1.5 bathrooms, and a two‑story layout; All 8 units are occupied; tenants pay utilities
