510 Poplar StCarbondale, IL 62901

Property Details for 510 Poplar St

Year built

2003

Property size (Sq ft)

10,224 SF

Property type

Residential income homes

Description

This exceptional investment opportunity presents a portfolio of nine rental units situated in Carbondale, Illinois, at 510 S Poplar St, zip code 62901. The property consists of two, two-story buildings totaling 10,224 square feet on a 10,224 square foot lot. Built in 2003, the complex offers a mix of unit sizes: seven two-bedroom units and two one-bedroom units. The property boasts a strong financial performance, with a current Net Operating Income (NOI) of $42,206, translating to an attractive 8.53% capitalization rate. The asking price is $495,000, representing a price per unit of $55,000 and a price per square foot of $48.42. Ample parking is available with 12 spaces provided. The property is currently under a trust ownership and is zoned "Other". All units are tenant-occupied, requiring 48-hour notice for showings. Leases are for one year. This property is part of a larger portfolio of investment properties available for sale individually or as a package. The property's location in Jackson County, Illinois offers convenient access to local amenities and services. This is a turnkey investment opportunity with significant potential for future growth and return.

Location Insight

City

Carbondale

County

Jackson

State

Illinois

Latitude

37.7221

Longitude

-89.2216

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