2221 Willow Knolls Dr Peoria, IL 61614
- Apartment buildings
- 52,806 SF
- 3.33 lot acres
Current Use by Public Records
- Willow Knolls Apartments / Apartment Complex
Property Details for 2221 Willow Knolls Dr
- Year built
- 1983
- Lot size
- 3.33 lot acres
- Property size
- 52,806 SF
- Property type
- Apartment buildings
Description
This exceptional investment opportunity presents a 67-unit multifamily portfolio situated on a 3.33-acre lot in Peoria, Illinois. The portfolio comprises two separate apartment communities, totaling 67 units across four two-story buildings. One community features 35 units, a mix of studios, one-bedroom, and two-bedroom/one-bathroom apartments. The other community boasts 32 units, including one-bedroom, two-bedroom/one-bathroom, and two-bedroom/one-and-a-half-bathroom apartments. Built in 1983 and renovated in 1999, the properties offer a blend of classic units ripe for modernization, presenting significant value-add potential. A substantial portion of the units in one community have recently undergone updates. One community benefits from attached garage parking and consistently maintains 100% occupancy. The properties are located at 2221 W Willow Knolls Dr and 3301 W Willow Knolls Dr, Peoria, IL 61614, offering convenient access to Peoria's amenities. The total square footage across both properties is 52,806. This portfolio presents a compelling opportunity for investors seeking to expand their holdings or enter the Peoria market, with strong potential for increased revenue through unit upgrades and strategic property management. The properties' consistent occupancy demonstrates a strong demand and stable income stream. The portfolio's prime location and existing infrastructure contribute to its overall appeal and investment value.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Peoria
- County
- Peoria
- State
- Illinois
- Longitude
- -89.6275
- Latitude
- 40.7767
