BEDS0
BATHS
MLS#12759922
STATUSNew
PROPERTY TYPEMulti Unit - Multiple
Property 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.
Property Features
Property Type: Multi Unit - Multiple
Cooling: Central Air
Lot Size: 0.16 Acres
Stories: 3.0
Taxes: $17,083
Feature Descriptions
Current Use: Multi-Family
Frontage Type: City Street
HVAC: Electric
Location: Enterprise Zone
Lot Dimensions: 121.5 X 55.75
Parcel#: 922117106004
Potential Use: Multi-Family
Tenant Pays: Electricity, Water, Hot Water
Units: 5
Utilities: Sewer Connected
Listed By / Shown By
Listed By
Agency Name: eXp Realty-Champaign
Agency Phone: 888-574-9405
Shown By
Agent Name: Karl Gasbarra
Agent Phone: (815) 975-4218
Agency Title: Gambino Realtors
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Estimated Payment
$ 4,203.12 per month $2,611.83 Principal & Interest $1,423.58 Property Tax $167.71 Homeowner's InsuranceChange Payment Information
Karl Gasbarra
Office: (815) 623-3333
Cell: (815) 975-4218
Fax: (815) 231-8163
Direct: (815) 975-4218
Corporate Relocation Director: (815) 975-4218
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707 W Elm Street | MLS# 12759922
This multi-family property located at 707 W Elm Street, Urbana, IL 61801 is currently listed for sale with an asking price of $575,000. Search Urbana real estate on kgasbarra.gogambino.com today.