Partially Renovated with Remaining Upside
Close to Amenities & Lake Springfield
Newbrook (24 units) & Lakeside (36 units) offers residents quick access to shopping & restaurants less than 1 mile away. Additionally, Lake Springfield, with 57 miles of shoreline, is less than 2 miles to the east.
Strong Springfield Employment Centers
Springfield is the state capital which guarantees thousands of jobs in and around the statehouse. The city is home to 3 universities and global leaders in enterprises that include healthcare, manufacturing, business services, tech and more.
Growing Market Fundamentals
Average rents in Springfield increased by 5.9% from 2021 to 2022 contributing to the steady upward trend of 20% rent growth since 2012. Average occupancy is now at 94% and trending up.
Springfield, IL 62703
St. Louis, MO 63117
Excellent Upside Potential
VALUE ADD - Room to push rents and renovate units
Quick access to shopping & restaurants
Buyer abilty to continue stabilization
Highly regarded property manager and maintenance tech interested in working with next ownership group
Poplar Bluff, MO 63901
Ballwin, MO 63011