Murphysboro Multifamily Portfolio Investment
153 Youngman Rd, Murphysboro, IL 62966
For Sale
Contact for pricing
Pending
27-unit, six-property multifamily portfolio in Murphysboro, Illinois for sale.
Property Size21,996 SF
Days on Market252
Property Features for 153 Youngman Rd
General Information
Standard status
Size
Property subtype
Listing Agency:
Marcus & Millichap - Chicago Oak Brook
Listed By:
Steven Weinstock · License IL #471011175
(630) 570-2250
Source:
Crexi
Added: Mar 5
Changed: Aug 8
Last Checked: Aug 8 at 6:40AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Marcus & Millichap - Chicago Oak Brook
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Investment Insights
Based on property information with market context.
The Murphysboro Portfolio presents a 27-unit, six-property multifamily portfolio situated across Murphysboro, Illinois. This offering represents an immediate value-add investment opportunity through loss-to-lease turnoff, operational streamlining, and targeted interior upgrades. The assets total 21,996 rentable square feet and feature a mix of one, two, and three-bedroom floor plans. Current rents average $694 compared to market rents of $838, positioning the portfolio for organic revenue growth through lease-renewal capture. The portfolio includes a 25-unit on-site storage facility located at 25 Youngman Road, providing a recurring ancillary income stream. Murphysboro is a stable, employer-diversified hub anchored by Southern Illinois Healthcare, Jackson County government, Aisin, General Dynamics, and nearby Southern Illinois University. This broad workforce base underpins renter demand, evidenced by a 4.7% vacancy rate and 0 units currently under construction within a 5-mile radius. The combination of low basis ($40,741/unit), immediate mark-to-market upside, limited capital requirements, and strong renter demand positions the Murphysboro Portfolio as a compelling, cash-flow-oriented investment within a supply constrained Southern Illinois submarket.
Key Highlights
- Immediate value‑add opportunity through loss‑to‑lease turnoff, operational streamlining, and targeted interior upgrades.
- High occupancy rate (94% economic occupancy) and potential to stabilize above a 10% cap rate.
- Below market rents ($694 average vs. $838 market) allowing for significant organic revenue growth.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$106,078
Cap Rate
8.91%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,121,560
$2.1M
Cap Rate 7%
$1,515,400
$1.5M
Cap Rate 9%
$1,178,644
$1.2M
Market Conditions
NOI Build-Up for 21,996 SF
Gross rent
$163.7K $7.44/SF
− Vacancy
−$12.1K −$0.55/SF
EGI
$151.5K $6.89/SF
− OpEx
−$45.5K −$2.07/SF
NOI
$106.1K $4.82/SF
Area
Jackson County, IL
Vacancy
7.40%
Lease Rate
$7.44 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,121,560
Cap Rate 7%
$1,515,400
Cap Rate 9%
$1,178,644
Alternative Uses
Best Use
Apartment 5plus
$2.44M
$2.13M – $2.85M
NOI $170,771 @ 7.0% cap · market cap 14.35%
Second Best
Self Storage
$1.52M
$1.33M – $1.77M
NOI $106,078 @ 7.0% cap · market cap 8.91%
Theoretical Best
Office A
$6.00M
$5.25M – $6.99M
NOI $419,684 @ 7.0% cap
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
24
Businesses Nearby
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Business Placement
Demographics for 62966, IL
14,026
Population
7,125
Households
2
Avg Household Size
43
Median Age
23%
College-Educated
90%
High-School Grad
111.0 sq mi
ZIP Area
126
Density / Sq Mi
$54,242
Median Household Income
$32,109
Median Earnings
$681
Median Rent
$117,800
Median Home Value
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Market
Vacancy Rate% for Industrial in Midwest region
Frequently Asked Questions
What type of property is this?
Apartment building - 27-unit, six-property multifamily portfolio in Murphysboro, Illinois for sale.
Where is this apartment building located?
The property is located at 153 Youngman Rd Murphysboro, IL.
What is the asking price?
The asking price for this property is $1,190,000.
What are key features of this property?
This property features: Immediate value‑add opportunity through loss‑to‑lease turnoff, operational streamlining, and targeted interior upgrades.; High occupancy rate (94% economic occupancy) and potential to stabilize above a 10% cap rate.; Below market rents ($694 average vs. $838 market) allowing for significant organic revenue growth.
