707 West Elm Street

Urbana, IL 61801

$545,000
Price
Beds
Sq. Ft.
/ Sq. Ft.
Sq. Ft.
per Sq. Ft.

Property Details for 707 West Elm Street

StatusActive
MLS #10359270
Year Built1967
DOM224
Compass TypeMulti Family
MLS TypeMulti Family 5+ / Corridor-Interior Entrance
Lot Size-
Taxes$10,500 / year
Condo/Co-op Fees-
HOA Fees-
CountyChampaign County

Listing Agent

Stefanie Pratt

Coldwell Banker The R.E. Group

stefanie@stefaniepratthomes.com

P: (217) 202-3336

M: (217) 202-3336x

Contact Agent(s)

Property Details for 707 West Elm Street

Area
Urbana

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... 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.

Location

Listing Courtesy of Coldwell Banker The R.E. Group

Building Information for 707 West Elm Street

Stories-Residences-Year Built1967Building Size-Lot Size-

Payment Calculator

$2,835 per month

30 year fixed, 3.51% Interest

Principal and Interest

$1,960

Property Taxes

$875

HOA Dues

$0

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Property Information for 707 West Elm Street

Property/Lot Information
    General Information
  • Property Type: Multi Family 5+
  • Type Multi 2 4: Corridor-Interior Entrance
    Structure Information
  • Num Of Units: 5
  • Approx Year Built: 1967
  • Approximate Age: Older
  • Built Before 1978: Yes
    Location Information
  • Directions: 1.5 Blocks east of Lincoln on Elm
    Lot Information
  • Lot Dimensions: 121.5 X 55.75
  • Zoning Type: MULTI
Lot/Land Information
    Lot/Land Information
  • Current Use: Residential-Multi-Family
  • Frontage Access: City Street
  • Land Amenities: Cable Ready
  • Location: Enterprise Zone
  • Ownership Type: Individual
  • Potential Use: Residential-Multi-Family
  • Tenant Pays: Electric, Cold Water, Hot Water
  • Utilities To Site: Sanitary Sewer to Site, Sewer-Storm Available, Water-Municipal
Multi-Unit 5+ Information
    Building Features
  • Num Of Dishwashers: 5
  • Num Of Disposals: 0
  • Num Of Dryers: 2
  • Num Of Fireplaces: 0
  • Num Of Ranges: 5
  • Num Of Refrigs: 5
  • Num Of Washers: 2
  • Num Of Window/AC: 0
  • Heat Ventilation: Electric
  • Washer/Dryer Leased: No
    Unit 1 Information
  • Num Of Bdrms: 4
  • Num Of Full Bthrms: 2
  • Num Of Rooms: 6
  • Num Of Units: 1
  • Monthly Income: 1680
  • Monthly Income Max: $1,680
    Unit 2 Information
  • Num Of Bdrms: 2
  • Num Of Full Bthrms: 1
  • Num Of Rooms: 4
  • Num Of Units: 2
  • Monthly Income: 902
  • Monthly Income Max: $986
    Unit 3 Information
  • Num Of Bdrms: 3
  • Num Of Full Bthrms: 1
  • Num Of Rooms: 5
  • Num Of Units: 3
  • Monthly Income: 1000
  • Monthly Income Max: $1,078
    Unit 4 Information
  • Num Of Bdrms: 0
  • Num Of Rooms: 0
  • Num Of Units: 0
  • Monthly Income: 0
    Income / Expense Information
  • Num Of Bdrms: 0
  • Cap Rate Percent: 8
  • Num Of Rooms: 0
  • Num Of Units: 0
  • Monthly Income: 0
  • Expense Year: 2019
  • Fuel Expense: 0
  • Gross Rent Multiplier: 8
  • Gross Rental Income: 67752
  • Insurance Expense Source: Actual
  • Net Operating Income: 45938
  • Other Expense Source: Combination
  • Other Expenses: 3400
  • Repairs Decor Expense: 7200
  • Repairs Decor Expense Source: Owner Projection
  • Scavenger Expense: 1280
  • Scavenger Expense Source: Actual
  • Total Annual Expenses: 12560
  • Total Annual Income: 71832
  • Total Monthly Income: 5986
  • Water Expense: 360
  • Water Expense Source: Actual
    Unit 6 Information
  • Num Of Bdrms: 0
  • Num Of Rooms: 0
  • Num Of Units: 0
  • Monthly Income: 0
    Unit 7 Information
  • Num Of Bdrms: 0
  • Num Of Rooms: 0
  • Num Of Units: 0
  • Monthly Income: 0

Property History for 707 West Elm Street

DateEvent & SourcePriceAppreciation
Oct 15, 2019Price Change

MRED #10359270

$545,000
Apr 26, 2019Listed (Active)

MRED #10359270

$575,000
DateEvent & SourcePrice
10/15/2019
Price Change

MRED #10359270

$545,000
04/26/2019
Listed (Active)

MRED #10359270

$575,000

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

Schools near 707 West Elm Street

AllElementaryMiddleHigh
SchoolTypeGradesDistanceRating
Canaan AcademyPrivatePK-50.3 mi
NR
Leal Elementary SchoolPublicK-50.4 mi
4
Urbana High SchoolPublic9-120.7 mi
4
Urbana Middle SchoolPublic6-80.8 mi
3

Canaan Academy

PK-5, 0.3 mi, Private

NR

Leal Elementary School

K-5, 0.4 mi, Public

4

Urbana High School

9-12, 0.7 mi, Public

4

Urbana Middle School

6-8, 0.8 mi, Public

3

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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707 West Elm Street is a multi-family home for sale in Urbana, IL 61801. This property was listed for sale on April 26, 2019 by Coldwell Banker The R.E. Group at $545,000. Nearby schools include Urbana High School, Urbana Middle School and Leal Elementary School. 707 West Elm Street is a 0-bed, 0-bath, multi-family home built in 1967.

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Listing Courtesy of Coldwell Banker The R.E. Group
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