Pheasantwood Apartments 12 Multifamily Properties Offered at $8,026,540 CAD in Belleville, IL

CBRE, as exclusive marketing advisor, is pleased to present the opportunity to acquire Pheasantwood Apartments (“the Property”), a 96-unit, garden-style apartment community situated on 4.95 acres in Belleville, Illinois. Constructed in 1980 and 1985, the residential property includes 64,800 total square feet of rental space throughout 12 buildings. Featuring one and two bedroom units and on-site parking, Pheasantwood Apartments will appeal to a diverse group of residents including young professionals, families and senior citizens.
Investors have an opportunity to acquire a well-performing multifamily asset that is primed for rent upside. All units are in classic or near classic condition allowing the opportunity for new ownership to have immediate value-add by updating units and pushing rents further over a new ownership period.
The Property is exceptionally well located in the Belleville, IL submarket, offering convenient access to the restaurants and retail stores along N. Illinois Street, as well as to I-64/40. Situated just 0.8 miles from the Memorial Hospital MetroLink Station, the buildings also benefit from adjacency to Belleville West Junior High School and Abraham Lincoln Elementary School along their southern edge.
Pheasantwood Apartments is being sold on a free & clear basis.