314-655-6060
1 Park Terrace Ln, Fairview Heights, IL for Sale
Apartments - FOR SALE
1/28
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1 Park Terrace Ln
Fairview Heights, IL 62208


HIGHLIGHTS

  • Established 96-unit garden-style apartment complex located in Fairview Heights, Illinois
  • Favorable mix of one and two bedroom units which appeal to a diverse and sophisticated variety of residents
  • Strong in-place cashflow with occupancy currently residing at 100%
  • Excellent 3-mile demographics with the Average Home Value being $213,748 and the Average Household Income being $112,146
  • Located in a very high-growth submarket
  • Washers and dryers in each unit

OVERVIEW

CBRE, as exclusive marketing advisor, is pleased to present the opportunity to acquire Park Terrace Apartments (“the Property”), a 96-unit, garden-style apartment community situated on 7.32 acres in Fairview Heights, Illinois. Constructed in 1986 the residential property includes 81,720 square feet of rental space with a mix of one and two bedroom units. Nestled in Fairview Heights in St. Clair County, Park Terrace is located just 1.5 miles from I-64 and provides excellent access to the greater St. Louis region. Fairview Heights appealing for commuters and those seeking a suburban lifestyle while benefiting from the amenities of a larger city. The area’s growing economy and diverse job market further enhance its attractiveness for potential tenants. Park Terrace is being sold with an attractive assumable debt of 3.805%. A call for offers date will be announced during marketing. Park Terrace is part of a larger 4-property, 504-unit portfolio. Properties can be purchased individually or as a portfolio.

FOR SALE DETAILS

PRICE

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# OF UNITS

96

CAP RATE

Request Cap Rate

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Park Terrace

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1984

PARKING SPACES

135

LAND DETAILS

LAND ACRES

7.4 AC

LAND SF

322,344 SF

ZONING

R2

APN/PARCEL ID

03-28.0-403-017

ASK ABOUT THIS PROPERTY

314-655-6060

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314-655-6060

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