513-429-7188
500 Saluki Blvd, Carbondale, IL for Sale
Apartments - FOR SALE
1/50
null | Request Cap Rate

500 Saluki Blvd
Carbondale, IL 62903


HIGHLIGHTS

  • 228-unit, 768-bed student housing community with a mix of two-, three-, and four-bed units with bed-bath parity built in 2008.
  • With a total of 11,790 students, Southern Illinois University saw the highest enrollment increase in 33 years for the fall semester of 2024.
  • After exceeding its enrollment goal for the fall semester of 2024, SIU is on track to enroll 15,000 students by 2030.
  • Incoming investor could renovate all units to push rents. This could result in an approximately 15% increase in base rental income. 
  • With the opportunity to improve operational efficiencies, rents can be pushed after the property is fully stabilized.
  • The Reserve at Saluki Pointe is one of the most amenitized properties in the Carbondale market.

OVERVIEW

The Reserve at Saluki Pointe is a 228-unit, 768-bed student housing community built in 2008. It has a mix of two-, three-, and four-bed units and bed-bath parity. This offering represents the opportunity to acquire a student housing community located in Carbondale, Illinois, adjacent to Southern Illinois University. With 11,790 students, Southern Illinois University saw its highest enrollment increase in 33 years for the fall semester of 2024. SIU exceeded its enrollment goal for 2024 and is on track to enroll 15,000 students by 2030. The Reserve at Saluki Pointe is one of the most amenitized properties in the Carbondale market. Its amenities include a pool, fitness center, rental store, sand volleyball court, basketball court, grilling station, picnic area, movie theater, game room, study lounge, business center, pet park, and a shuttle bus stop. This offering represents 100% fee simple interest in the Reserve at Saluki Pointe, free and clear of any debt.

FOR SALE DETAILS

PRICE

Request Info for Price

# OF UNITS

228

CAP RATE

Request Cap Rate

% LEASED

90%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

The Reserve at Saluki Pointe

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

2008

PARKING SPACES

876

LAND DETAILS

LAND ACRES

27.03 AC

LAND SF

1,177,427 SF

ZONING

-

APN/PARCEL ID

15-33-176-004

ASK ABOUT THIS PROPERTY

Patrick MullowneyFranklin StreetMore Info
513-429-7188

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Patrick MullowneyFranklin StreetMore Info
513-429-7188

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.