New Listing
Description
Great opportunity to own a 5-unit multifamily property located in the Enterprise Zone and just minutes from the University of Illinois and downtown Urbana. The property features five furnished apartments, including a unique two-story townhouse with 4 bedrooms and 2 full baths, two 3-bedroom apartments with attractive cathedral ceilings, and two 2-bedroom apartments and over $6,000 in Gross Monthly Income. Each unit offers a gas fireplace, refrigerator, stove, dishwasher, microwave, and either a private balcony or patio. Residents also have access to on-site laundry facilities for an additional charge, along with assigned off-street parking. Rent includes fiber-optic internet and common-area fees, while electricity and water are separately metered and billed directly to tenants. The property has a newer roof, numerous recent updates, and a strong rental history. All five units are currently rented for the 2026-2027 school year, providing an excellent opportunity for an investor looking for immediate rental income. The location is hard to beat-approximately 11/2 blocks east of Lincoln Avenue and just one block north of Green Street, providing easy access to the University of Illinois, downtown Urbana, restaurants, shopping, and other area amenities. A solid investment opportunity in a convenient and highly desirable rental location. Seller would like to sell 707 Elm with 705 Elm (Adjacent 10 unit). Financials are attached.
Details
| MLS # | 12759922 |
|---|---|
| Listing Type | For Sale |
| Style | Multi Family 5+ |
| Sub-Type | Resale |
| Status | Active |
| Year | 0 |
| Days On Site | 4 |
| Listing Provided By | eXp Realty-Champaign | J Leman |
Features
| Story(s) | 3 |
|---|---|
| Units | 5 |
| Zoning | MULTI |
Interior
| Cooling | Central Air |
|---|---|
| Fireplaces Total | 0 |
Utilities
| Utilities | Sewer Connected |
|---|---|
| Sewer | Storm Sewer |
Taxes
| Tax Year | 2025 |
|---|---|
| Tax Annual Amount | 17083.38 |
Area Information
| State | IL |
|---|---|
| County | Champaign |
| City | Urbana |
| Zip Code | 61801 |
| Area | Urbana |
| Listing VS Median (in 61801) | |
Price: $575,000 low | high Med: $235,000 On site: 4 low | high Med: 45 | |
Market Activity 61801
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Learn More About This Property
| State | IL |
|---|---|
| County | Champaign |
| City | Urbana |
| Zip Code | 61801 |
| Area | Urbana |
| Listing VS Median (in 61801) | |
Price: $575,000 low | high Med: $235,000 On site: 4 low | high Med: 45 | |
