221-223 Bernard DrBelleville, IL 62223

Property Details for 221-223 Bernard Dr

Year built

2000

Lot size

1.10 AC

Property size (Sq ft)

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.

Location Insight

City

Belleville

County

St. Clair

State

Illinois

Latitude

38.5438

Longitude

-90.0731

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