Breckenridge Apartments — Sale in Carbondale, IL
- Price: Contact for price
- Listing type: For sale
- Asset type: Multifamily Property
- Location: Carbondale, IL 62903
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Investment Figures
- Cap rate
- 7.65%
Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.
Description
Marcus & Millichap is pleased to present Breckenridge Apartments, a 24-unit multifamily community located in Carbondale, Illinois, near Southern Illinois University Carbondale. Built in 1992, the property consists of 24 two-bedroom, one-bathroom units across 12 low-density, duplex-style buildings, with each unit averaging approximately 800 square feet. Breckenridge features separately metered utilities, with tenants responsible for water, sewer, gas, and electric, supporting an efficient operating structure. Five roofs have been replaced within the past three years, further reducing near-term capital requirements. Located near Southern Illinois University, Memorial Hospital of Carbondale, and major retail and recreational amenities, the property benefits from convenient access to several of the area’s primary employment and demand drivers. Carbondale remains a supply-constrained multifamily market anchored by Southern Illinois University and Southern Illinois Healthcare. Market-wide occupancy reached 93.1 percent in the third quarter of 2026, while asking rents increased 2.5 percent year-over-year. Southern Illinois University reported fall 2026 enrollment of 12,066, its highest level in eight years, while Southern Illinois Healthcare employs more than 4,000 people throughout the region. These institutional anchors, combined with continued rental growth and stable occupancy, help support long-term renter demand. Serving a regional population of approximately 123,000, Carbondale functions as Southern Illinois’ primary hub for education, healthcare, and commerce. The surrounding economy is supported by major employers and institutions including Southern Illinois University, Southern Illinois Healthcare, SIH Memorial Hospital, Aisin, the Marion VA Medical Center, and Pepsi MidAmerica. Breckenridge Apartments offers investors the opportunity to acquire a stabilized, efficiently operated multifamily asset with meaningful rent upside in a market supported by institutional
Market Context
This multifamily in Carbondale, IL is listed for sale. It is offered at an approximate 7.7% capitalization rate, a key benchmark for income-producing multifamily assets. Compare it against other multifamily listings for sale in Carbondale, IL — view the full market.
Contact
- Yianni Mouflouzelis · (312) 624-7074 · yianni.mouflouzelis@marcusmillichap.com
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