REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
$ 575,000
Est. payment | /mo
$ 575,000
Est. payment | /mo
Key Details
Property Type Multi-Family
Sub Type Multi Family 5+
Listing Status Active
Purchase Type For Sale
MLS Listing ID 12759922
Annual Tax Amount $17,083
Tax Year 2025
Lot Dimensions 121.5 X 55.75
Property Sub-Type Multi Family 5+
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.
Location
State IL
County Champaign
Area Urbana
Zoning MULTI
Interior
Cooling Central Air
Fireplace N
Building
Dwelling Type Multi Family 5+
© 2026 Listings courtesy of MRED as distributed by MLS GRID. All Rights Reserved.
Listed by J Leman of eXp Realty-Champaign
Nearby Locations
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "
propertymanagement@legacypropertiesil.com
1350 Remington Rd, Suite B, Schaumburg IL, Other