302 S Busey Ave Urbana, IL 61801
West Urbana NeighborhoodAbout This Home
As of December 2024Very desirable U of I Campus Location with great value add opportunity! This 10 unit, 3 story apartment building includes 8-4 Bedroom and 2-5 Bedroom Apartments. All units includes a full appliance package featuring a Stove, Refrigerator, Dishwasher, Microwave, Garbage Disposal, and Washer and Dryer. The property offers a 2nd Floor Sun Deck with bike storage. Parking is provided by virtue of open and carport parking, with a large sundeck established over the roof of the carport. Ten spaces are provided, seven of which lie in a carport fashion. Fiber Internet ran throughout the building with ethernet hook ups in living rooms and all bedrooms. Across from the MTD Green Line and a short walk to Campus!
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $57,758
Year Built
- Built in 1977
Home Design
- Wood Frame Construction
Interior Spaces
- 14,518 Sq Ft Home
- 3-Story Property
- Exterior Basement Entry
Bedrooms and Bathrooms
- 42 Bedrooms
- 18 Bathrooms
Additional Features
- Lot Dimensions are 53.75 x 169.34 x 121.5 x 53.92 x 67.75 x 115.42
- Property is near public transit
- Forced Air Heating and Cooling System
Listing and Financial Details
- Tenant pays for varies by tenant
Community Details
Overview
- 10 Units
Building Details
- Operating Expense $141,949
- Gross Income $216,533
- Net Operating Income $127,456
Ownership History
Purchase Details
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.Purchase Details
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.Purchase Details
Map
Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Special Warranty Deed | $1,831,500 | None Listed On Document | |
| Special Warranty Deed | $1,831,500 | None Listed On Document | |
| Warranty Deed | $3,300,000 | Beckett Chad S | |
| Deed | -- | None Available |
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $1,373,625 | New Conventional | |
| Closed | $1,373,625 | New Conventional | |
| Previous Owner | $6,600,000 | Construction | |
| Previous Owner | $200,000 | Future Advance Clause Open End Mortgage |
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 12/16/2024 12/16/24 | Sold | $1,831,500 | -1.0% | $126 / Sq Ft |
| 11/19/2024 11/19/24 | Pending | -- | -- | -- |
| 11/06/2024 11/06/24 | For Sale | $1,850,000 | -- | $127 / Sq Ft |
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2024 | $57,759 | $595,130 | $92,230 | $502,900 |
| 2023 | $57,759 | $543,000 | $84,150 | $458,850 |
| 2022 | $55,679 | $514,400 | $77,490 | $436,910 |
| 2021 | $54,475 | $504,640 | $76,020 | $428,620 |
| 2020 | $52,702 | $489,950 | $73,810 | $416,140 |
| 2019 | $34,535 | $330,480 | $73,810 | $256,670 |
| 2018 | $28,891 | $279,650 | $62,460 | $217,190 |
| 2017 | $29,888 | $279,650 | $62,460 | $217,190 |
| 2016 | $29,723 | $279,650 | $62,460 | $217,190 |
| 2015 | $28,622 | $279,650 | $62,460 | $217,190 |
| 2014 | $28,235 | $266,340 | $59,490 | $206,850 |
| 2013 | $27,865 | $266,340 | $59,490 | $206,850 |
Source: Midwest Real Estate Data (MRED)
MLS Number: 12201891
APN: 92-21-17-107-017
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