1705 Jamestown Rd
Belleville, IL 62226
Jamestown Apartments · Multifamily Property For Sale · 77 Units

Jamestown Apartments is a value add opportunity consisting of 76 units (all 2 bed/1 bath) apartment complex with a 2,400 SF on-site office. The asking price is $2,900,000 ($38k per unit with an in-place cap rate above 7.8%). There is significant upside with raising rents to market rate. This apartment community is located in Belleville, Illinois a submarket of St. Louis, Missouri. Updates over the last 5 years includes the following: • New roofs • New AC units • New flooring, cabinets & vanities • Major landscaping updates (2017) LOCATION Jamestown is located on the west end of Belleville, IL just off 17th Street, a main connector between Illinois State Route 161 and Illinois State Route 15 and is minutes to Illinois State Route 159. This location provides superior access to Millstadt, Belleville, Swansea, Fairview, O’Fallon and Shiloh. Jamestown is located minutes to Scott Air Force Base, Lindenwood University and Southwestern Illinois College. Scott Air Force Base The fourth largest employer in the St. Louis area and the largest employer south of Springfield. Scott Air Force Base contributes $2.3 billion annually to the regional economy and has a population of 41,204 personnel including dependents. Annual payroll at Scott Air Force base is $737 million dollars and Scott Air Force Base creates approximately 6,451 indirect jobs in the area. Lindenwood University - Belleville Belleville is proud to have Lindenwood University, a thirty-three-acre campus in the heart of Belleville, offering 37 undergraduates and graduate degree programs to 2,300 students through value-centered programs that lead to the development of the whole person. Lindenwood's faculty, staff, and administration are committed to an integrative liberal arts curriculum that focuses on the talents, interests, and future of the students. Southwestern Illinois College Established in 1971, SWIC's Belleville campus draws students from throughout the district for its classes, programs, services, student organizations, and community events. VALUE ADD OPPORTUNITY Current rents are well below competitive market / Value-add component – effective rents at Jamestown are below that of competitors’ rents. Significant rent growth is possible and supported by the property’s location, sub market desirability and ongoing growth in the area. POPULATION Belleville is the eighth-most populated city outside of the Chicago Metropolitan Area and the most populated city south of Springfield in the State of Illinois- The population was 42,034 according to the Census Bureau's 2015 estimates. It is the eighth-most populated city outside the Chicago Metropolitan Area and the most populated city south of Springfield in the state of Illinois. It is the county seat of St. Clair County, and the seat of the Roman Catholic Diocese of Belleville and the National Shrine of Our Lady of the Snows. Belleville is the most populated city in the Metro-East region of the St. Louis Metropolitan Area and in Southern Illinois. Due to its proximity to Scott Air Force Base, the population receives a boost from military and federal civilian personnel, defense contractors, and military retirees. CITY OF BELLEVILLE RANKED #1 AMONG MOST BEAUTIFUL CITIES IN ILLINOIS About as far away from Chicago as you can get without leaving the state, this Southern Illinois city is full of farms, museums, and beautiful places to stay. Enjoy old city charm as well as festivals, delicious dining options, and parks.