221-223 Bernard Dr Belleville, IL 62223
- Apartment buildings
- 3,360 SF
- 1.10 lot acres
Current Use by Public Records
- Apartment buildings
Property Details for 221-223 Bernard Dr
- Year built
- 2000
- Lot size
- 1.10 lot acres
- Property size
- 3,360 SF
- Property type
- Apartment buildings
Description
This exceptional investment opportunity presents a four-unit apartment building located at 221-223 Bernard Dr, Belleville, IL 62223. Built in 2000, this single-story property boasts 3,360 square feet situated on a 1.1-acre lot. The property features twelve parking spaces, providing ample accommodation for residents. The building is zoned SR3 and includes two duplex units. Currently, month-to-month leases are in place with long-term tenants. Significant tenant improvements have been made, including a roof replacement in 2012, and hot water tank replacements in 2017, 2020, and 2022. Further upgrades include refrigerator and stove replacements in 2020, and dishwasher and fan motor replacements in 2021. The property offers a strong return on investment with a 7.90% cap rate and a net operating income (NOI) of $24,883. The asking price is $300,000, translating to a price per square foot of $89.29. The property's APN is 07-10.0-413-044 & 07-10.0-413-045. This well-maintained property presents a compelling opportunity for investors seeking a stable, income-generating asset in a desirable location.
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Belleville
- County
- St. Clair
- State
- Illinois
- Longitude
- -90.0731
- Latitude
- 38.5438
