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400 N Oakland Ave 42 Unit Apartment Building $3,307,200 CAD ($78,743 CAD/Unit) Carbondale, IL 62901
Investment Highlights
- 42 units featuring two-bedroom, one-and-a-half-bath floor plans
- Significant capital improvements include updated unit interiors, updated fixtures and hardware, and enhanced exterior and common area finishes
- Prime Carbondale, IL location near Southern Illinois University, Memorial Hospital, and major retail
- Twenty-four units have been renovated with updated interior finishes, leaving value-add opportunity through continued interior renovations
- Residents benefit from private balconies or porches and on-site laundry
- Offered significantly below replacement cost
Executive Summary
CBRE is pleased to offer for sale Palomino Apartments (the “Property”), a 42-unit apartment community located in Carbondale, Illinois. Built in 1970, the Property consists entirely of two-bedroom apartment homes and offers investors a value-add opportunity through continued unit upgrades and rental growth.
Palomino Apartments features spacious two-bedroom, 1.5-bath units with fully-equipped kitchens, private balconies or porches, generous storage and closet space, and on-site laundry facilities. The Property also benefits from ample parking and select renovated interiors.
Ideally located in Carbondale, the Property is just minutes from Southern Illinois University, downtown Carbondale, major employers, shopping, dining, and healthcare services. Residents also enjoy convenient access to regional outdoor attractions, including Giant City State Park and Shawnee National Forest, supporting a strong and diverse renter base within Southern Illinois.
Palomino Apartments features spacious two-bedroom, 1.5-bath units with fully-equipped kitchens, private balconies or porches, generous storage and closet space, and on-site laundry facilities. The Property also benefits from ample parking and select renovated interiors.
Ideally located in Carbondale, the Property is just minutes from Southern Illinois University, downtown Carbondale, major employers, shopping, dining, and healthcare services. Residents also enjoy convenient access to regional outdoor attractions, including Giant City State Park and Shawnee National Forest, supporting a strong and diverse renter base within Southern Illinois.
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Property Facts
| Price | $3,307,200 CAD | Building Class | B |
| Price Per Unit | $78,743 CAD | Lot Size | 1.44 AC |
| Sale Type | Investment | Building Size | 47,254 SF |
| No. Units | 42 | Average Occupancy | 95% |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built | 1970 |
| Apartment Style | Garden | Parking Ratio | 1.1/1,000 SF |
| Price | $3,307,200 CAD |
| Price Per Unit | $78,743 CAD |
| Sale Type | Investment |
| No. Units | 42 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | B |
| Lot Size | 1.44 AC |
| Building Size | 47,254 SF |
| Average Occupancy | 95% |
| No. Stories | 3 |
| Year Built | 1970 |
| Parking Ratio | 1.1/1,000 SF |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1.5 | 42 | - | - |
1 1
Fairly walkable
50/100
Moderately drivable
70/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 15-20-228-030 | Improvements Assessment | $177,079 CAD |
| Land Assessment | $80,955 CAD | Total Assessment | $258,033 CAD |
Property Taxes
Parcel Number
15-20-228-030
Land Assessment
$80,955 CAD
Improvements Assessment
$177,079 CAD
Total Assessment
$258,033 CAD
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400 N Oakland Ave
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