1433 & 1439 E Walnut Street, Carbondale, IL 62901

Property Description

Calling all investors—Colonial East Apartments presents a rare opportunity to add a substantial income-producing property to your portfolio in a fantastic Carbondale location. Situated on approximately 3.05 sprawling acres, this investment includes 40 apartment units plus an additional single-family 3-bedroom, 2-bath home, creating multiple streams of rental income and plenty of room for future growth. The property has seen continued upkeep and improvements throughout the complex, including new roofs on select buildings, updated baseboard heat and hot water heaters in all units as well as numerous miscellaneous improvements designed to keep the facilities maintained to standard. At the rear of the property, an on-site laundry house provides an additional source of income while adding convenience for tenants. With its size, existing rental base, additional single-family residence and significant opportunity to increase occupancy and income, Colonial East Apartments offers tremendous upside for the right investor. Located close to the energy and activity of Carbondale’s college community, tenants are just minutes from shopping, dining, entertainment and the hustle and bustle of college life. If you’ve been searching for a large-scale multifamily investment in Carbondale with room to grow, Colonial East Apartments deserves your attention before its gone!