707 West Elm Street

Urbana, IL 61801

$485,000
Last Sold Price
17
Beds
Sq. Ft.
/ Sq. Ft.
Sq. Ft.
per Sq. Ft.

Description

Great opportunity to own a 5 unit campus multifamily property in the enterprise zone. This building features 5 furnished apartments to include:a unique 2 story townhouse apartment with 4 bedrooms & 2 baths (1300 sq ft): 2 Three bedroom apartments with cathedral ceilings (800 sq ft): 2 Two bedroom apartments (650 sq ft). All apartments include a gas fireplace, refrigerator, stove, dishwasher, microwave, balcony or patio, access to on-site laundry (additional charge to renters), and assigned off-street...Great opportunity to own a 5 unit campus multifamily property in the enterprise zone. This building features 5 furnished apartments to include:a unique 2 story townhouse apartment with 4 bedrooms & 2 baths (1300 sq ft): 2 Three bedroom apartments with cathedral ceilings (800 sq ft): 2 Two bedroom apartments (650 sq ft). All apartments include a gas fireplace, refrigerator, stove, dishwasher, microwave, balcony or patio, access to on-site laundry (additional charge to renters), and assigned off-street parking (additional charge). Rent includes fiber optics internet and all commons fees. Separately metered electricity and water are billed to residents. Newer roof, many recent updates throughout and maintains a great rental history. Currently rented for 2019-2020 school year! Conveniently located approx 1.5 blocks E of Lincoln and 1 blk N of Green. Easy distance to U of I and downtown Urbana.
  1. Listed by Stefanie Pratt • Coldwell Banker R.E. Group

Sold By Green Street Realty

Property Details for 707 West Elm Street

Area
Urbana
Num Of Parking Spaces
4.0
Num of Interior Fireplaces
0
Zoning
MULTI

Location

Add your commute
LISTING UPDATED: 05/05/2021 07:34 AM

Property Details for 707 West Elm Street

StatusClosed
MLS #10359270
Days on Market320
Taxes$10,500 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeMulti Family 5+ / Corridor-Interior Entrance
Year Built1967
Lot Size0.16 AC / 6,773 SF
CountyChampaign County

Location

Add your commute

Building Information for 707 West Elm Street

Stories-Residences5Year Built1967Building Size-Lot Size0.16 AC / 6,773 SF

Payment Calculator

$3,522 per month

30 year fixed, 7.25% Interest

Principal and Interest

$2,647

Property Taxes

$875

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 707 West Elm Street

General Information
Location and General Information
  • Frontage Type: City Street
  • Information: 24-Hr Notice Required,Show-Call Listing Office
Taxes and HOA Information
  • Additional Parcels: No
Property Information
Interior Features
  • Air Conditioning: Central Air
  • # Of Washers: 2
  • Grid: 105
  • Heat/Ventilation: Electric
  • # Of Window/Ac: 0
  • # Of Refrigerators: 5
  • Washer/Dryer Lsd: No
  • # Of Dryers: 2
  • # Of Disposals: 0
  • # Of Dishwashers: 5
  • Num of Baths: 0.0
Utilities / Equipment
  • Utilities: Sanitary Sewer, Sewer-Storm Available, Water-Municipal
Property/Lot Information
  • Tenant Pays: Electricity, Water, Hot Water
  • Built Before 1978: Yes
  • Approximate Age: Older
  • Multi-Family Type: Corridor-Interior Entrance
  • Lot Dimensions: 121.5 X 55.75
  • Stories: 3
  • # Of Ranges: 5
  • MRD_UNC: No
Property and Assessments
  • Possible Use: Multi-Family
  • Public Document Count: 2
  • Document Date: 2019-04-29T19:24:00
  • Photos Count: 17
Miscellaneous
  • Current Use: Multi-Family
  • Land Amenities: Cable Ready
  • Location: Enterprise Zone
Virtual Tour/Additional Media
  • Virtual Tour: None
  • Virtual Tour YN: No
  • Virtual Tour Date: 04-30-2019
Multi Family
Multi-Family Information
  • Number Of Units Total: 5
Income & Expenses
  • Electric Expense: $800.00
  • Fuel Expense: $.00
  • Gross Income: $67,752.00
  • Gross Scheduled Income: $71,832.00
  • Insurance Expense: $1,800.00
  • Maintenance Expense: $7,200.00
  • Electric Expense Source: Actual
  • Expense Year: 2019
  • Insurance Expense Source: Actual
  • Janitor Expense: 0
  • Other Expense Source: Combination
  • Repairs-Decor Expense Source: Owner Projection
  • Trash Expense Source: Actual
  • Total Monthly Income: 5986
  • Water Expense Source: Actual
  • Net Operating Income: $45,938.00
  • Operating Expense: $12,560.00
  • Other Expense: $3,400.00
  • Trash Expense: $1,280.00
  • Water Sewer Expense: $360.00
Unit 1
  • Unit Type Baths Total: 2
  • Unit Type Beds Total: 4
  • Unit Type Type: Unit 1
  • Unit Type Units Total: 1
  • # Of Rooms - Unit 1: 6
  • # Of Full Bthrms - Type 1: 2
  • Monthly Income - 1: 1680
Unit 2
  • Unit Type Baths Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Type: Unit 2
  • Unit Type Units Total: 2
  • # Of Rooms - Unit 2: 4
  • # Of Full Bthrms - Type 2: 1
  • Monthly Income - 2: 902
Unit 3
  • Unit Type Baths Total: 1
  • Unit Type Beds Total: 3
  • Unit Type Type: Unit 3
  • Unit Type Units Total: 3
  • # Of Rooms - Unit 3: 5
  • # Of Full Bthrms - Type 3: 1
  • Monthly Income - 3: 1000
  • Monthly Income Max - 3: 1078
Unit 4
  • Unit Type Beds Total: 0
  • Unit Type Type: Unit 4
  • Unit Type Units Total: 0
  • # Of Rooms - Unit 4: 0
  • Monthly Income - 4: 0
Unit 5
  • Unit Type Beds Total: 0
  • Unit Type Type: Unit 5
  • Unit Type Units Total: 0
  • # Of Rooms - Unit 5: 0
  • Monthly Income - 5: 0
Unit 6
  • Unit Type Beds Total: 0
  • Unit Type Type: Unit 6
  • Unit Type Units Total: 0
  • Monthly Income - 6: 0
Unit 7
  • Unit Type Beds Total: 0
  • Unit Type Type: Unit 7
  • Unit Type Units Total: 0
  • # Of Rooms - Unit 7: 0
  • Monthly Income - 7: 0

Property History for 707 West Elm Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 707 West Elm Street

Taxable ValueLand$39,250Additions$94,900Total$134,150
Tax Record2022$14,520 ($1,210 / month)
Home Facts
StyleMulti-Family Dwelling (2-4)CountyCHAMPAIGNAPN922117106004

Schools near 707 West Elm Street

This home is within Urbana School District 116.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Public - K to 12
Rating
School
Distance
Leal Elementary School
PublicK to 5

Urbana Middle School
Public6 to 8

Urbana High School
Public9 to 12

Urbana Gerber School
PublicK to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Coldwell Banker R.E. Group

Based on information from one of the following Multiple Listing Services: Midwest Real Estate Data LLC (\"MRED\"), MRED PLN GRID, Northwest Indiana REALTORS® Association and NorthWest Illinois Alliance of REALTORS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by Midwest Real Estate Data LLC (\"MRED\"), MRED PLN GRID, Northwest Indiana REALTORS® Association and NorthWest Illinois Alliance of REALTORS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.