6-Unit Apartment
For Sale
$432,000
971 Belle Valley Drive, Belleville, IL 62220
Interior improvements and parking-lot work serve a six-apartment property with consistent two-bedroom layouts.
Property Size5,058 SF
Price / SF$85.41
Days on Market76
Property Features for 971 Belle Valley Drive
General Information
Standard status
Active
Size
5,058 SF
Property subtype
Residential Income
Units
Unit Mix
6 x 2BR/1BA
Multifamily Units
6
Additional Details
Gross Income
$72,000
Taxes and HOA fees
Annual Taxes
$8,161
Building Details
Building Size
5,058 SF
Year Built
1984
Buildings
1
Units
1
Listing Agency:
Johnston Realty, Inc.
(618) 233-8802
Listed By:
Gary Johnston · License #471004014
(618) 779-4124
Source:
Flowershomerealty
Added: Aug 11
Changed: Oct 23
Last Checked: Oct 23 at 1:27PM
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 Johnston Realty, Inc.
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Investment Insights
Based on property information with market context.
This 5,058-square-foot apartment building contains six units, each configured with two bedrooms and one bathroom. Five units have been cleared and renovated, with work including new flooring, trim, and doors. Kitchen cabinets and countertops were replaced in four units. Bathroom improvements include updated vanities, lighting, mirrors, and towel bars, with some tubs also replaced. Two units received replacement air-conditioning systems; the remaining systems were cleaned and serviced. The property was built in 1984, and the asphalt parking area has undergone substantial replacement work and a full reseal.
The building is at 971 Belle Valley Drive in Belleville, Illinois. It may also be acquired with the neighboring eight-unit property at 961 Belle Valley Drive, which is on a separate parcel.
The building is at 971 Belle Valley Drive in Belleville, Illinois. It may also be acquired with the neighboring eight-unit property at 961 Belle Valley Drive, which is on a separate parcel.
Key Highlights
- Six apartments, each with 2 bedrooms and 1 bathroom
- 5,058 square feet; built in 1984
- Five units cleared and renovated with flooring, trim, and door improvements
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$37,576
Cap Rate
8.70%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$751,520
$751.5K
Cap Rate 7%
$536,800
$536.8K
Cap Rate 9%
$417,511
$417.5K
Market Conditions
NOI Build-Up for 5,058 SF
Gross rent
$72.8K $14.40/SF
− Vacancy
−$4.5K −$0.89/SF
EGI
$68.3K $13.51/SF
− OpEx
−$30.7K −$6.08/SF
NOI
$37.6K $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%
$751,520
Cap Rate 7%
$536,800
Cap Rate 9%
$417,511
Alternative Uses
Best Use
Apartment 5plus
$536.8K
$469.7K – $626.3K
NOI $37,576 @ 7.0% cap · market cap 8.70%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.20M
$1.05M – $1.40M
NOI $83,819 @ 7.0% cap · market cap 19.40%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
90
Businesses Nearby
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Business Placement
Demographics for 62220, IL
19,474
Population
8,784
Households
2.2
Avg Household Size
39
Median Age
28%
College-Educated
93%
High-School Grad
28.9 sq mi
ZIP Area
674
Density / Sq Mi
$65,261
Median Household Income
$37,105
Median Earnings
$976
Median Rent
$141,300
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 - Interior improvements and parking-lot work serve a six-apartment property with consistent two-bedroom layouts.
Where is this apartment building located?
The property is located at 971 Belle Valley Drive Belleville, IL.
What is the asking price?
The asking price for this property is $432,000.
What are key features of this property?
This property features: Six apartments, each with 2 bedrooms and 1 bathroom; 5,058 square feet; built in 1984; Five units cleared and renovated with flooring, trim, and door improvements
