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- LoopNet Team
900 E Park St
Carbondale, IL 62901
The Pointe at SIU · Multifamily Property For Sale · 180 Units
Investment Highlights
- 492-Bed Student Housing Property at Southern Illinois University
- Offered at 50% of Replacement Cost
- Value Add through Occupancy and Updating Original Interiors
PROPERTY FACTS
No. Units | 180 | Building Size | 290,757 SF |
Property Type | Multifamily | Average Occupancy | 85% |
Property Subtype | Dormitory | No. Stories | 3 |
Apartment Style | Garden | Year Built | 2009 |
Building Class | B | Parking Ratio | 1.56/1,000 SF |
Lot Size | 9.35 AC |
No. Units | 180 |
Property Type | Multifamily |
Property Subtype | Dormitory |
Apartment Style | Garden |
Building Class | B |
Lot Size | 9.35 AC |
Building Size | 290,757 SF |
Average Occupancy | 85% |
No. Stories | 3 |
Year Built | 2009 |
Parking Ratio | 1.56/1,000 SF |
Unit Amenities
- Air Conditioning
- Balcony
- Cable Ready
- Washer/Dryer
- Kitchen
- Ice Maker
- Refrigerator
- Oven
- Tub/Shower
- Walk-In Closets
- Patio
Site Amenities
- Clubhouse
- Fitness Center
- Pool
- Property Manager on Site
- Tennis Court
- Furnished Units Available
- Grill
- Planned Social Activities
- Multi Use Room
About 900 E Park St , Carbondale, IL 62901
The Pointe at SIU is a 492-bed purpose built student housing property less than a mile east of Southern Illinois University in Carbondale, IL. Built in 2009, the property consists of all 2 and 3 bedroom units with bed-bath parity. The property truly is a full featured student community with a complete modern amenity set. The fully furnished units have large, open floor plans, full-size washer/dryers and individual private locking bedrooms, and balconies or patios. The community has a fitness center, swimming pool, outdoor basketball court, tanning beds, computer lab with private study rooms, and clubhouse and game room. The location is one of the best at SIU, walking distance to class, on the Saluki bus route, and the property has a shuttle to campus and the University Mall. The SIU Student Recreation center is just a few blocks away along with bars and restaurants on Grand Avenue. At less than half of replacement cost, The Pointe offers a tremendous price per pound basis. The opportunity exists to acquire a value add asset at a stabilizing university and see immediate cash yields while harboring the upside of rent and occupancy levels beginning to see signs of improvement. The unit interiors are original to 2009 and achieved rents that are approximately $100/bed below newer construction. Occupancy dipped to under 84% this school year after many years of 95+% occupancy. The Pointe is offered free and clear and could take advantage of historically low cost long term financing.
Unit Mix Information
Description | No. Units | Avg. Rent/Mo | SF |
---|---|---|---|
2+2 | 48 | $1,220 | 849 |
3+3 | 132 | $1,530 | 1,049 |
Links
PROPERTY TAXES
Parcel Number | 15-22-377-006 | Improvements Assessment | $4,304,364 |
Land Assessment | $118,644 | Total Assessment | $4,423,008 |
PROPERTY TAXES
zoning
Zoning Code | PUD (Planned Unit Development) |
PUD (Planned Unit Development) |
Listing ID: 18547570
Date on Market: 2020-02-17
Last Updated:
Address: 900 E Park St, Carbondale, IL 62901
The Multifamily Property at 900 E Park St, Carbondale, IL 62901 is no longer being advertised on LoopNet.ca. Contact the broker for information on availability.