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About the Listing 95401 - 950278
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.
Listing Highlights for 707 W Elm St
Interior Details
- Appliances:
- Air Cond: Central Air
- Heating: Electric
- Fireplaces: 0
- Floor:
- Basement:
- Other:
- Water:
Exterior Details
- Garage Capacity: N/A
- Lot Dimensions: 121.5 X 55.75
- Zoning: MULTI
- Roof:
- Others:
- Sewer:
Financial Details
- Tax Amount: $17,083
- Taxes w/Assessments: N/A
- Tax/Property ID: 922117106004
- Tax Year: 2025
Payment Calculator
Monthly Payment
- in Principal and Interest
- in Taxes
Listing Location
Questions About..
707 W Elm St Urbana, IL 61801
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