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1 Park Terrace Ln
Fairview Heights, IL 62208
Park Terrace · Build-to-Rent Property For Sale
·
96 Units
INVESTMENT HIGHLIGHTS
- Established 96-unit garden-style apartment complex located in Fairview Heights, Illinois
- Strong in-place cashflow with occupancy currently residing at 100%
- Located in a very high-growth submarket
- Favorable mix of one and two bedroom units which appeal to a diverse and sophisticated variety of residents
- Excellent 3-mile demographics with the Average Home Value being $213,748 and the Average Household Income being $112,146
- Washers and dryers in each unit
EXECUTIVE SUMMARY
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.
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.
PROPERTY FACTS Under Offer
| Sale Type | Investment | Total Plot Size | 7.40 ac |
| No. Units | 96 | Property Size | 103,228 sq ft |
| Property Type | Build-to-Rent | Average Occupancy | 100% |
| Property Subtype | Apartment | No. Floors | 2 |
| Apartment Style | Garden | Year Built | 1984 |
| Costar Property Class | C | Parking Allocation | 1.31/1,000 sq ft |
| Use Class | R2 | ||
| Sale Type | Investment |
| No. Units | 96 |
| Property Type | Build-to-Rent |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Costar Property Class | C |
| Total Plot Size | 7.40 ac |
| Property Size | 103,228 sq ft |
| Average Occupancy | 100% |
| No. Floors | 2 |
| Year Built | 1984 |
| Parking Allocation | 1.31/1,000 sq ft |
| Use Class | R2 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Cable Ready
- Dishwasher
- Disposal
- Fireplace
- Washer/Dryer
- Washer/Dryer Hookup
- Heating
- Ceiling Fans
- Eat-in Kitchen
- Kitchen
- High Speed Internet Access
- Refrigerator
- Satellite TV
- Range
- Tub/Shower
- Walk-In Closets
- Carpet
- Dining Room
- Studio / Creative Space Layout
- Vinyl Flooring
- Window Coverings
SITE AMENITIES
- Business Centre
- Clubhouse
- Laundry Facilities
- Picnic Area
- Pool
- Property Manager on Site
- Grill
- Package Service
- Storage Space
- Health Club Discount
- Maintenance on site
- Online Services
- Sundeck
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT PCM | sq ft |
|---|---|---|---|
| 1+1 | 38 | - | 790 - 970 |
| 2+1.5 | 58 | - | 850 - 870 |
PROPERTY TAXES
| Parcel Number | 03-28.0-403-017 | Improvements Assessment | £1,144,983 |
| Land Assessment | £153,865 | Total Assessment | £1,298,848 |
PROPERTY TAXES
Parcel Number
03-28.0-403-017
Land Assessment
£153,865
Improvements Assessment
£1,144,983
Total Assessment
£1,298,848
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