Ashburn Court Apartments

Multi-Family for Sale
Catylist Listing ID: 30165071
Property Subtypes: Low-Rise/Garden, Student Housing
Number of Units: 110 Units
Building Size (RSF): 82,068 SF
Gross Land Area: 2.62 Acres
Sale Price: See Agent
Property Use Type: Investment
Building Name: Ashburn Court Apartments
Sale Terms: Cash to Seller
Auction Type: Undisclosed Reserve
Cap Rate: 7.15%
Average Occupancy Rate: 869
Gross Rent Multiplier: 4.47
Last Updated: 5/29/2018

Overview / Comments

Ashburn Court Apartments (the “Property”) is a 93% occupied student housing development opportunity at 506 S Graham Ave. Carbondale, IL 62901. The Property consists of 82,068 SF situated on 2.62 acres. This is an outstanding stabilized student housing investment near Southern Illinois University's campus.

This 110 unit complex offers newly renovated units, upgraded windows, and above area occupancy. The complex stays 90 percent occupied consistently. The Property offers on site laundry, game/recreation room, and outside common areas. Complex's proximity to campus and University Village make it an ideal location to take advantage of area amenities.

This development site is zoned R-3 and accommodates 110 units. The Property is suited for student housing with Southern Illinois University four minutes away. Southern Illinois University System is a strong, diverse, student-centered research-intensive and comprehensive university that recently earned the prestigious 2015 community engagement classification from the Carnegie Foundation for the Advancement of Teaching.

Attachments & Media

Additional Details

Nearest MSA: Carbondale-Marion
County: Jackson
Tax ID/APN: 15-21-427-010
Zoning: R-3
Percent Occupied: 869%
Community Amenities: Recreation Room
Year Built: 1968
Year Renovated: 2015
Laundry: Shared

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 10,836 26,266 35,130
Median Age: 24.78 26.47 29.87
Households: 5,336 11,262 15,112

Contact

Photograph of Listing Agent

Charlie Butler

KW Commercial CPIX Member
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