408 W Freeman Street, Carbondale, IL 62901

Property Description

Opportunity awaits at 408 W. Freeman Street in Carbondale! Formerly utilized as a fraternity house and currently operating as student housing, this substantial property offers a unique combination of space, income potential and flexibility just minutes from Southern Illinois University. The property features 12 bedrooms, 4 full bathrooms and expansive common areas, including a large living room, dining area, spacious kitchen and additional gathering/bar room. Currently occupied by 10 students with reported rental income of $4,200 per month. Tenants pay their own utilities, with the owner currently responsible for trash service. Additional features include ample off-street parking, multiple HVAC components, two water heaters and a Generac standby generator with automatic transfer equipment. With its high-capacity layout and established rental use, this property presents an intriguing opportunity for investors, student-housing operators or buyers seeking a property with substantial space and redevelopment potential. Property is being offered in its present condition. Buyer to independently verify property use, zoning, occupancy allowances, bedroom count, financial information and all other information material to buyer’s intended use.