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1837 Lebanon Ave
Belleville, IL 62221
Storyboard on Lake Christine · Multifamily Property For Sale
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54 Units
Investment Highlights
- Established 54-unit garden-style apartment complex located in Belleville, Illinois
- Strategic Metro East location, which offers access to the St. Louis metropolitan job market, while benefiting from lower operating costs in Illinois
- All units are two-bedroom, one-bathroom with fireplaces, private balconies, and washer/dryer hookups, appealing to long-term renters
- 37% of the units have been updated achieving a $148 average rent increase, allowing new ownership to complete upgrades and push rents
- Stable 3-mile demographics with the Average Home Value being $187,754 and the Average Household Income being $96,037
- Close to major employers including Memorial Hospital, Southwestern Illinois College, and Scott AFB, providing a stable tenant base
Property Facts
| No. Units | 54 | Building Size | 58,515 SF |
| Property Type | Multifamily | Average Occupancy | 100% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Garden | Year Built/Renovated | 1986/2001 |
| Building Class | B | Parking Ratio | 0.95/1,000 SF |
| Lot Size | 2.55 AC | ||
| Zoning | R2 - Residential | ||
| No. Units | 54 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | B |
| Lot Size | 2.55 AC |
| Building Size | 58,515 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1986/2001 |
| Parking Ratio | 0.95/1,000 SF |
| Zoning | R2 - Residential |
Amenities
Unit Amenities
- Air Conditioning
- Balcony
- Cable Ready
- Dishwasher
- Disposal
- Fireplace
- Storage Space
- Washer/Dryer Hookup
- Heating
- Ceiling Fans
- High Speed Internet Access
- Refrigerator
- Satellite TV
- Carpet
- Grill
- Wheelchair Accessible (Rooms)
Site Amenities
- 24 Hour Access
- Picnic Area
- Pool
- Property Manager on Site
- Grill
- Pet Play Area
- Sundeck
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 54 | - | 1,000 - 1,050 |
Property Taxes
| Parcel Number | 08-14.0-103-021 | Improvements Assessment | $973,221 |
| Land Assessment | $99,065 | Total Assessment | $1,072,286 |
Property Taxes
Parcel Number
08-14.0-103-021
Land Assessment
$99,065
Improvements Assessment
$973,221
Total Assessment
$1,072,286
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