618-353-1589
800 E Grand Ave, Carbondale, IL for Sale
Apartments - FOR SALE
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800 E Grand Ave
Carbondale, IL 62901


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.
  • Southern Illinois University saw the highest enrollment increase in 33 years for the fall 2024 semester for a total of 11,790 students.
  • After exceeding its enrollment goal for 2024, SIU is on track to enroll 15,000 students by 2030.
  • Investors have the opportunity to renovate, which could increase the base rental income by approximately 20%.
  • University Village is located one block from campus, near the recreation center, Morris Library, the academic buildings, and Downtown Carbondale.
  • Owner can improve operational efficiencies, and rents can be pushed after the property is fully stabilized.

OVERVIEW

University Village is a 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. This offering represents the opportunity to acquire a student housing community in Carbondale, Illinois, adjacent to Southern Illinois University (SIU). For the fall semester of 2024, 11,700 students enrolled at Southern Illinois University, the highest enrollment increase in 33 years. SIU exceeded its enrollment goal for fall 2024 and is on track to enroll 15,000 students by 2030. University Village offers its residents amenities, including the deepest pool in Carbondale, a fitness center, a game room, a dog park, a sand volleyball court, a business center, an outdoor fireplace lounge, and a shuttle bus stop. This offering represents 100% fee simple interest in University Village, free and clear of any debt.

FOR SALE DETAILS

PRICE

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# OF UNITS

269

CAP RATE

Request Cap Rate

% LEASED

87%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

University Village

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1973

PARKING SPACES

536

LAND DETAILS

LAND ACRES

16.78 AC

LAND SF

730,937 SF

ZONING

R-3

APN/PARCEL ID

15-22-376-001

ASK ABOUT THIS PROPERTY

Patrick MullowneyFranklin StreetMore Info
618-353-1589

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Patrick MullowneyFranklin StreetMore Info
618-353-1589

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