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Multifamily

Brookview Apartments

2915 W Cannes Dr, Peoria, IL 61615

Listing Price: $4,700,000

Cap Rate
7.43%
Number of Units
96
Occupancy
95.0%
Price/Unit
$48,958
Price/Gross SF
$61.20
Gross SF
76,800

Investment Overview

Marcus & Millichap is pleased to present this multifamily opportunity in Peoria, Illinois. Brookview Apartments consists of 96 apartments; 72 one-bedroom/one-bath and 24 two- bed/one-bath units. Apartments are bright, clean, and feature updated bathrooms, full kitchens with electric ranges, carpeted floors, private balconies and ample closet space. Many capital improvements. More than 80% of the units renovated. All new windows. New roofs on two of the four buildings. All rates at or below market. The property is just off of Interstate 74, a main artery through Peoria, giving tenants an easy commute in and out of the downtown area. Brookview Apartments is also close to major shopping malls, Bradley University, dining and night life. Peoria, with a population of 379,186 (MSA), is located 160 miles southwest of Chicago, equidistant to St. Louis. This vibrant city prides itself on its museums, theaters, venues and community events all year round. A major port on the Illinois River, Peoria is a trading and shipping center for a large agricultural area that produces corn, soybeans, and livestock. Although the economy is well diversified, the city’s traditional manufacturing industries remain important and produce earthmoving equipment, metal products, lawn-care equipment, labels, steel towers, farm equipment, building materials, steel, wire, and chemicals. Heavy equipment manufacturer Caterpillar is a major employer and is one of the 30 companies composing the Dow Jones Industrial Average and listed on the Fortune 100.

Investment Highlights

  • Excellent Peoria Location
  • 96 Apartments
  • Many Significant Capital Improvements
  • Outdoor Parking and On-Site Laundry

Exclusively Listed By

Listing Price: $4,700,000

Cap Rate
7.43%
Number of Units
96
Occupancy
95.0%
Price/Unit
$48,958
Price/Gross SF
$61.20
Gross SF
76,800

Investment Highlights

  • Excellent Peoria Location
  • 96 Apartments
  • Many Significant Capital Improvements
  • Outdoor Parking and On-Site Laundry

Investment Overview

Marcus & Millichap is pleased to present this multifamily opportunity in Peoria, Illinois. Brookview Apartments consists of 96 apartments; 72 one-bedroom/one-bath and 24 two- bed/one-bath units. Apartments are bright, clean, and feature updated bathrooms, full kitchens with electric ranges, carpeted floors, private balconies and ample closet space. Many capital improvements. More than 80% of the units renovated. All new windows. New roofs on two of the four buildings. All rates at or below market. The property is just off of Interstate 74, a main artery through Peoria, giving tenants an easy commute in and out of the downtown area. Brookview Apartments is also close to major shopping malls, Bradley University, dining and night life. Peoria, with a population of 379,186 (MSA), is located 160 miles southwest of Chicago, equidistant to St. Louis. This vibrant city prides itself on its museums, theaters, venues and community events all year round. A major port on the Illinois River, Peoria is a trading and shipping center for a large agricultural area that produces corn, soybeans, and livestock. Although the economy is well diversified, the city’s traditional manufacturing industries remain important and produce earthmoving equipment, metal products, lawn-care equipment, labels, steel towers, farm equipment, building materials, steel, wire, and chemicals. Heavy equipment manufacturer Caterpillar is a major employer and is one of the 30 companies composing the Dow Jones Industrial Average and listed on the Fortune 100.

Exclusively Listed By

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