2310 Illinois AveCarbondale, IL 62903

Property Details for 2310 Illinois Ave

Lot size

1.00 AC

Property type

Investment properties

Property subtype

Live-work space

APN

15-33-326-002

APU

1533326002

Description

This exceptional investment opportunity presents a well-maintained, city-inspected income-producing property situated on a one-acre lot in Carbondale, Illinois. The property comprises three buildings: a single-family home with one bedroom and one bathroom, and two eight-unit apartment buildings, each unit offering one bedroom and one bathroom. A key feature is that each unit includes its own laundry facilities, enhancing tenant appeal and convenience. The total square footage encompasses 11,000 square feet, providing substantial rental income potential. The property's strategic location offers significant advantages. It's conveniently located within minutes of downtown Carbondale and just one mile south of Southern Illinois University, ensuring a consistent demand for rental units from students and the local community. Major shopping complexes are only two miles away, providing residents with easy access to retail amenities. This turnkey investment is ready for an immediate return, offering a rare chance to acquire a substantial multi-family property in a thriving market. The property's strong occupancy rates and consistent rental income stream make it an attractive proposition for both seasoned investors and those seeking to diversify their portfolio. The well-maintained condition of the buildings minimizes immediate capital expenditure needs, allowing for a swift and profitable return on investment.

• CAP approach

  CAP return

  Valuation

  6%

  $9,956,890

  6.5%

  $9,190,976

  7%

  $8,534,477

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,395,938

  Geo Method

  $3,395,938

• Alternative Use

  Use

  Valuation

  Residential

  $11,396,810

  Hospitality

  $10,439,417

  Educational

  $8,685,472

  Medical

  $8,984,179

  Retail

  $13,510,734

Location Insight

City

Carbondale

County

Jackson

State

Illinois

Latitude

37.6927

Longitude

-89.22

CBSA code

16060

CBSA name

CARBONDALE-MARION, IL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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