2305-2309 Cherry Hills Dr Springfield, IL 62704
This exceptional investment opportunity presents a 24-unit multifamily property located at 2305-2309 CHERRY HILLS Drive, Springfield, IL 62704. The property consists of two buildings, each featuring 12 fully remodeled units. These units underwent a complete renovation in 2019, boasting brand new HVAC systems, flooring, kitchens, bathrooms, and fresh paint throughout. This ensures high-quality living spaces for tenants and minimizes future maintenance needs. The property's strategic location adjacent to Hy-Vee and in close proximity to shopping centers, schools, and other amenities makes it highly desirable and attractive to a wide range of renters, contributing to strong occupancy rates and consistent rental income. The asking price for this turnkey investment is $1,900,000. While the square footage is believed to be accurate, it is not guaranteed. This property represents a compelling addition to any real estate portfolio, offering a blend of immediate income generation and long-term appreciation potential. Don't miss this chance to acquire a well-maintained, high-demand multifamily complex in a thriving Springfield neighborhood.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendComparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
No recorded transactions found for this property.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.