Multifamily Investment Opportunity

SaleInvestmentMulti-Family 5,075 SF
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601 W University Ave
Champaign, IL 61820
Price: $325,000
Building Size: 5,075 SF
Lot Size (sqft): 5,412 SF
Lot Size (acre): 0.25 ac
Lot Dim.: 82 x 66
Parking: 5 Spaces
Zoning: ITMF
Tax PIN: 42-20-12-356-009
RE: $7,028.00
Year Built: 1965
Gross Income: $41,100 Per Annum
NOI: $28,100
Net Cap Ratio: $28,100/$325,000 = 8.65%
Expenses: $13,000 Per Annum
Building Market Price: $325,000

Property Description

This two story house offers a great Investment Opportunity. Property is a four unit multifamily building located on a tree line street. The office on the main level is currently leased by a business that has been there for several years and signs three year leases. The second level consists of three apartments; 2 small one bedrooms and 1 large loft. The building has well taken care of hardwood floors. On-site parking and street parking are both available. The property has historically remained leased and is well taken care of.

Expenses Breakdown:

RE Taxes – $5,948.08
Insurance – $1,106.95
Ameren – $3,233.97
Water – $590.37
Trash – $1,111.09
C-U Sanitary – $388.95

Location Description

Subject property is located across from the newly proposed Central High School and is minutes away from the U of I Campus with MTD access. The property is within walking distance from Downtown Champaign, with great night life activity (food, entertainment). Property is zoned ITMF (In Town Multi Family).