17 Kensington Heights Rd | Belleville, IL 62226
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17 Kensington Heights Rd
Belleville, IL 62226
Kensington Heights Apartments · Multifamily Property For Sale · 36 Units
Investment Highlights
- Stabilized property with 97% occupancy.
- VALUE ADD OPPORTUNITY to renovate remaining 28 units and raise rent by 30%.
Executive Summary
This property represents a premier investment opportunity with significant upside potential. The stabilized occupancy of 100% ensures a reliable income stream, while the recent renovations of 8 units demonstrate the potential for increased rental income. With 28 units available for renovation, there is substantial value-add potential, allowing investors to further enhance the property’s income-generating capabilities.
Stabilized property with 100% occupancy.
8 units renovated in the past year and rented out for as much as $975 per month.
VALUE ADD OPPORTUNITY to renovate remaining 28 units and raise rent by 30%.
$69,440 per unit.
All units are 2 BDs 1 BA.
75 Parking Spaces.
Parking Lot repaired, striped, and sealed in 2023.
New exterior light fixtures installed in 2023.
Stabilized property with 100% occupancy.
8 units renovated in the past year and rented out for as much as $975 per month.
VALUE ADD OPPORTUNITY to renovate remaining 28 units and raise rent by 30%.
$69,440 per unit.
All units are 2 BDs 1 BA.
75 Parking Spaces.
Parking Lot repaired, striped, and sealed in 2023.
New exterior light fixtures installed in 2023.
PROPERTY FACTS Under Contract
| Price Per Unit | $99,951 CAD | Lot Size | 1.23 AC |
| Sale Type | Investment | Building Size | 40,291 SF |
| Cap Rate | 8.99% | Average Occupancy | 100% |
| No. Units | 36 | No. Stories | 3 |
| Property Type | Multifamily | Year Built/Renovated | 1979/2024 |
| Property Subtype | Apartment | Parking Ratio | 1.86/1,000 SF |
| Apartment Style | Low Rise | Opportunity Zone |
Yes
|
| Building Class | C |
| Price Per Unit | $99,951 CAD |
| Sale Type | Investment |
| Cap Rate | 8.99% |
| No. Units | 36 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 1.23 AC |
| Building Size | 40,291 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built/Renovated | 1979/2024 |
| Parking Ratio | 1.86/1,000 SF |
| Opportunity Zone |
Yes |
Unit Amenities
- Air Conditioning
- Cable Ready
Site Amenities
- Laundry Service
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 36 | $1,241 CAD | 900 |
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $520,427 CAD | |
| Land Assessment | $55,189 CAD | Total Assessment | $575,616 CAD |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$55,189 CAD
Improvements Assessment
$520,427 CAD
Total Assessment
$575,616 CAD
zoning
| Zoning Code | Multi-Family (Residential Multi-Family) |
| Multi-Family (Residential Multi-Family) |
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