7700 Main St Belleville, IL 62223
- Multifamily properties
- 0.16 lot acres
Current Use by Public Records
- Multifamily properties
Property Details for 7700 Main St
- Year built
- 1974
- Lot size
- 0.16 lot acres
- Property type
- Multifamily properties
Description
This eight-unit multi-family property located at 7700 W Main Street, Belleville, IL, presents a compelling investment opportunity. The property sits on a 0.16-acre lot and consists of eight one-bedroom, one-bathroom units. Seven of the eight units are currently occupied, generating consistent rental income. Importantly, all tenants are responsible for their own utilities, minimizing landlord expenses. One unit underwent a complete remodel in March 2023, ensuring modern appeal and potentially higher rental rates. A significant feature of this property is a drive-in basement area, accessible via two 16-foot-wide commercial overhead doors. This space, previously used for storage, offers substantial potential for additional income generation through rental to commercial tenants or repurposing for other uses. The property's central location in Belleville, IL, provides convenient access to public transportation, enhancing its appeal to a wide range of tenants. This property is priced at $490,000 and represents a strong addition to any investor's portfolio, offering a blend of immediate rental income and significant upside potential through the basement space. The property's strong occupancy rate and recent renovations further solidify its 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
- Belleville
- County
- St Clair-IL
- State
- Illinois
- Longitude
- -90.04774
- Latitude
- 38.56232
