800 E Grand Ave | Carbondale, IL 62901
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- LoopNet Team
800 E Grand Ave
Carbondale, IL 62901
University Village · Multifamily Property For Sale
·
269 Units
INVESTMENT HIGHLIGHTS
- 269-unit, 656-bed student housing community with a mix of one-, two-, three-, and four-bed units built in 1973 and renovated in 2013.
- After exceeding its enrollment goal for 2024, SIU is on track to enroll 15,000 students by 2030.
- University Village is located one block from campus, near the recreation center, Morris Library, the academic buildings, and Downtown Carbondale.
- Southern Illinois University saw the highest enrollment increase in 33 years for the fall 2024 semester for a total of 11,790 students.
- Investors have the opportunity to renovate, which could result in an approximately 19% increase in base rental income from the 2024-25 rent roll.
- Owner can improve operational efficiencies, and rents can be pushed after the property is fully stabilized.
PROPERTY FACTS
| No. Units | 269 | Building Size | 271,778 SF |
| Property Type | Multifamily | Average Occupancy | 90% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Garden | Year Built/Renovated | 1973/2013 |
| Building Class | B | Parking Ratio | 1.97/1,000 SF |
| Lot Size | 16.78 AC | ||
| Zoning | R-3 - Unzoned | ||
| No. Units | 269 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | B |
| Lot Size | 16.78 AC |
| Building Size | 271,778 SF |
| Average Occupancy | 90% |
| No. Stories | 2 |
| Year Built/Renovated | 1973/2013 |
| Parking Ratio | 1.97/1,000 SF |
| Zoning | R-3 - Unzoned |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Cable Ready
- Dishwasher
- Microwave
- Washer/Dryer
- Heating
- Ceiling Fans
- Kitchen
- Hardwood Floors
- High Speed Internet Access
- Range
- Tub/Shower
- Walk-In Closets
- Carpet
- Dining Room
- Window Coverings
SITE AMENITIES
- Business Center
- Clubhouse
- Fitness Center
- Property Manager on Site
- Furnished Units Available
- Guest Apartment
- Package Service
- Volleyball Court
- Storage Space
- Lounge
- Maintenance on site
- Sundeck
- Roommate Matching
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 36 | - | 650 |
| 2+2 | 129 | - | 1,066 |
| 3+2 | 54 | - | 1,066 |
| 4+2 | 50 | - | 1,066 |
PROPERTY TAXES
| Parcel Number | 15-22-376-001 | Improvements Assessment | $3,512,421 |
| Land Assessment | $256,723 | Total Assessment | $3,769,144 |
PROPERTY TAXES
Parcel Number
15-22-376-001
Land Assessment
$256,723
Improvements Assessment
$3,512,421
Total Assessment
$3,769,144
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