Skip to main content

Multifamily

Royal Heights Apartments

1509 2nd St, Charleston, IL 61920

Listing Price: $1,700,000

Cap Rate
8.34%
Number of Units
24
Price/Unit
$70,833
Price/Gross SF
$65.01
Gross SF
26,150

Investment Overview

Marcus & Millichap is pleased to present this Offering Memorandum for Royal Heights Apartments in Charleston, IL. The subject property is comprised of 24 residential units that feature hardwood flooring throughout, ceiling fans, and a mix of stainless steel and black kitchen appliances. The exact unit mix is one Two-Bed/One-Bath and 23 Three-Bed/One-and-a-Half-Bath. Royal Heights Apartments includes an underground parking garage for tenants and is in walking proximity to Eastern Illinois University. Eastern Illinois University was established in 1895 as Eastern Illinois State Normal School. Today, the university offers 50 undergraduate degree programs that include over 150 major and minor options. Students also have more than 800 scholarships available to them, all fostering the rich tradition of preparing students to accomplish life goals through quality academics and personal relationships. Athletically, the Panthers represent the university at the NCAA Division 1 Football Championship Subdivision and a total of 18 men's and women's varsity sports. Panthers have seen success as professional athletes, notably former NLF coach and three-time Super Bowl Champion, Mike Shanahan.

Investment Highlights

  • Student Housing Investment Opportunity Composed Of 24 Units (71 Beds)
  • Prime Charleston, IL Location Within Walking Distance of Eastern Illinois University
  • Renovation and Lease Up Potential Offers Value Add Opportunity
  • Underground Garage Parking

Exclusively Listed By

Multifamily

Royal Heights Apartments

Listing Price: $1,700,000

Cap Rate
8.34%
Number of Units
24
Price/Unit
$70,833
Price/Gross SF
$65.01
Gross SF
26,150

Investment Highlights

  • Student Housing Investment Opportunity Composed Of 24 Units (71 Beds)
  • Prime Charleston, IL Location Within Walking Distance of Eastern Illinois University
  • Renovation and Lease Up Potential Offers Value Add Opportunity
  • Underground Garage Parking

Investment Overview

Marcus & Millichap is pleased to present this Offering Memorandum for Royal Heights Apartments in Charleston, IL. The subject property is comprised of 24 residential units that feature hardwood flooring throughout, ceiling fans, and a mix of stainless steel and black kitchen appliances. The exact unit mix is one Two-Bed/One-Bath and 23 Three-Bed/One-and-a-Half-Bath. Royal Heights Apartments includes an underground parking garage for tenants and is in walking proximity to Eastern Illinois University. Eastern Illinois University was established in 1895 as Eastern Illinois State Normal School. Today, the university offers 50 undergraduate degree programs that include over 150 major and minor options. Students also have more than 800 scholarships available to them, all fostering the rich tradition of preparing students to accomplish life goals through quality academics and personal relationships. Athletically, the Panthers represent the university at the NCAA Division 1 Football Championship Subdivision and a total of 18 men's and women's varsity sports. Panthers have seen success as professional athletes, notably former NLF coach and three-time Super Bowl Champion, Mike Shanahan.

Exclusively Listed By

MM Texture Background
MM Textured Background Lower