Belleville Multifamily Portfolio 5 Multifamily Properties Offered at $2,799,410 in Belleville, IL

Belleville Multifamily Portfolio – 46 Units
Offered at $2,799,410 - 8.5% Cap Rate
Gateway Commercial Real Estate is proud to present a rare opportunity to acquire a stabilized, cash-flowing 46-unit multifamily portfolio in Belleville, Illinois. This diverse collection of properties combines strong in-place income, solid occupancy, and meaningful upside through rent growth and minor capital improvements.
Strategically located across desirable residential neighborhoods, each property offers proximity to retail, schools, healthcare, and employment centers within the Metro East region of St. Louis.
Portfolio Overview
Total Units: 46
Total Asking Price: $2,799,410
Average Price per Unit: $60,856
Current Cap Rate: 8.5%
Occupancy: Approximately 97%
Ownership Motivation: Retirement and full portfolio disposition
Property Highlights:
Scheel Street Apartments (12 Units)
Gettysburg Drive Apartments (304 & 308) – 8 Units
Fourscore Court Apartments (41 Fourscore) – 4 Units
Woodcliffe Drive Apartments – 8 Units
East Belle Street Apartments – 14 Units
Investment Highlights
Stable Cash Flow: All properties are 90–100% occupied with strong rent history.
Value-Add Opportunity: Room to adjust rents to market levels and continue light renovations.
Attractive Basis: Priced at just $61K per unit—well below replacement cost.
Geographic Diversity: Five well-located assets throughout Belleville’s stable submarkets.
Location Advantages
Belleville is one of the largest communities in the Metro East market, offering convenient access to downtown St. Louis, major employers, and Scott Air Force Base. The area benefits from strong rental demand, affordable housing stock, and limited new multifamily construction, providing a favorable long-term investment environment.
Contact:
Gateway Commercial Real Estate, LLC
Terry Heimann, Managing Broker
?? (618) 580-6390
?? TerryHeimann@Yahoo.com