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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.

Newbrook & Lakeside
60 Units
2062 Bradley Court
Springfield, IL  62703
Type: Conventional
Posted: 5/26/2022
The Vlasis Park land parcel is a unique, one-of-a-kind opportunity to acquire a premier development site that has been approved for multifamily development. The site consists of three contiguous parcels that total 4.72 acres and the site is vacant and ready for development. The property is truly superior in terms of its West County location, accessibility, demographic profile, and proximity to amenities and upscale housing. The site is located at the northwest corner of the signalized intersection of Manchester Road and Seven Trails Drive, with frontage on four roadways and adjacent to Vlasis Park. Manchester Road is one of the most heavily traveled roadways in the St. Louis MSA with traffic counts at +/- 40,000 vehicles per day at the subject site. The immediate area consists of most national retailers along Manchester Road and residential uses in the secondary positions. The site is located in the Ballwin Multifamily Submarket, which is one of the leading submarkets in the MSA with 5,988 units, effective rent at $1,295/month or $1.40/sf, YOY rent growth at 9.0%, and 97.6% occupancy.
Vlasis Park Multifamily Land
196 Units
14811 Manchester Road
Ballwin, MO  63011
Posted: 1/23/2023