$250,000
$395,000
36.7%For more information regarding the value of a property, please contact us for a free consultation.
503-505 E Elm ST Urbana, IL 61801
7 Beds
3 Baths
Key Details
Sold Price $250,000
Property Type Multi-Family
Sub Type Two to Four Units
Listing Status Sold
Purchase Type For Sale
MLS Listing ID 11911199
Sold Date 01/09/24
Bedrooms 7
Annual Tax Amount $4,742
Tax Year 2022
Lot Dimensions 138X125
Property Description
Two contiguous homes both with R-5 Zoning allowing Medium Density Multi-Family. Approximately 17,250 square feet of zoning allowing building heights up to 35 feet as per the City of Urbana. Combined the units rent for $25,320 per year currently and are locally third party managed. Earn rent until you are ready to build! Consult local zoning and perform due diligence before making an offer. Listing agent believes that the units are currently under-rented and thus there exists potential for value add.
Location
State IL
County Champaign
Area Urbana
Zoning MULTI
Rooms
Basement Full
Interior
Heating Natural Gas
Fireplace N
Exterior
Parking Features Detached
Garage Spaces 1.0
Building
Sewer Public Sewer
Water Public
New Construction false
Schools
Elementary Schools Leal Elementary School
Middle Schools Urbana Middle School
High Schools Urbana High School
School District 116 , 116, 116
Others
Ownership Fee Simple
Special Listing Condition None
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© 2024 Listings courtesy of MRED as distributed by MLS GRID. All Rights Reserved.
Bought with Susan Frobish • RE/MAX Choice