2901-2979 W Cannes Dr - Apartments FOR SALE


Peoria, IL 61615- North Peoria
$6,300,000 USD
847-533-0613
2901-2979 W Cannes Dr, Peoria, IL for Sale
$6,300,000 USD
Apartments - FOR SALE
1/31
null | 7.01% Cap Rate

2901-2979 W Cannes Dr
Peoria, IL 61615
North Peoria


HIGHLIGHTS

  • Spacious Units with Onsite Laundry
  • Value Add Opportunity by Raising Below Market Rents
  • Recent Interior and Exterior Renovations

OVERVIEW

Marcus & Millichap is pleased to present Crescent Creek Apartments, a 96-unit apartment community nestled in the highly desirable North Peoria market. This well-maintained complex, situated in a beautifully wooded setting, offers a mix of studio, one-bedroom, and two-bedroom apartments. The property provides residents with modern conveniences and stunning views of both the surrounding woods and a serene creek that winds through the lower part of the property. North Peoria is known for its vibrant community atmosphere, offering an array of shopping and dining options. The area is also home to excellent public schools and higher education institutions like Bradley University. For those seeking leisure and culture, the Peoria Zoo and Peoria Riverfront Museum are just a short drive away. The combination of affordable, comfortable living and the rich amenities of the surrounding area makes Crescent Creek Apartments an exceptional investment opportunity in one of Peoria’s most sought-after locations. Peoria, with a population of over 400,000 (MSA), is a hub of cultural vibrancy and economic stability. The city’s diverse economy is bolstered by industries such as manufacturing and healthcare, with a significant presence of major employers like Caterpillar Inc. The strategic location of Peoria, equidistant to both Chicago and St. Louis, further enhances its appeal as a dynamic and accessible market.

FOR SALE DETAILS

PRICE

$6,300,000 USD

PRICE/SF

$66 USD /SF

# OF UNITS

96

PRICE/UNIT

$65,625

CAP RATE

7.01%

% LEASED

98%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Crescent Creek Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1972

PARKING SPACES

-

LAND DETAILS

LAND ACRES

5.66 AC

LAND SF

246,550 SF

ZONING

-

APN/PARCEL ID

14-18-351-018,14-18-351-019,14-18-351-020

ASK ABOUT THIS PROPERTY

Yianni MouflouzelisMarcus & MillichapMore Info
847-533-0613

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Yianni MouflouzelisMarcus & MillichapMore Info
847-533-0613

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.