240 Unit Multifamily Carbondale, Illinois
Investment Highlights
Carbondale, Illinois 240-unit Class C garden-style multifamily, built 1971. 84 1BR | 110 2BR | 46 3BR, currently 96% occupied. T12 NOI $795K | $2.34M gross potential rent. Major value-add through utility recapture/RUBS - property is master-metered with ~$656K annual utility expense, while currently recovering only ~7%. Increasing recovery to 30% could add ~$151K to NOI, bringing NOI to ~$946K. Asking $11.25M (7.1% cap in place 8.5% pro forma | 4.8x GRM | $46,875/unit)
Location
📍 Carbondale, Illinois
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