K
Seller's Agent in 2021
Kevin Block
KELLER WILLIAMS-TREC
401 E University Ave Champaign, IL 61820
Estimated Value: $6,941,000
64
Beds
64
Baths
--
Sq Ft
0.45
Acres Lot
About This Home
As of March 2021401 E University Avenue is a 64 unit, 5 story building with all 1 bedroom apartments. Constructed in 2017, this property is in new condition. Each unit ranges in size from 648 SF to 745 SF, offering very spacious apartments for individuals or couples. Includes upgraded finishes with granite counter tops and stainless appliances. These units are partially furnished, and could easily be fully furnished for improved rental rates. This building is just 3 blocks from the University of Illinois' Department of Electrical and Computer Engineering. Grocery stores, restaurants, and entertainment are all in close proximity to this property. Current rental rates range from $855 to $1,000, not including the parking and furniture rental income. Property is 100% rented for 2020-21 school year, and the demand is strong for one-bedroom units in today's student housing market. The electric service is paid by the tenants, and the internet service is provided by the owner. Additionally, the water has been paid by the owner and could easily be sub-metered and billed to tenants for improved NOI. The parking garage is enclosed at ground level with 42 spaces that are rented to tenants at $55 each per month. One elevator and 2 stairwells provide access to the 5 levels, and each unit has a balcony or rooftop terrace. Schedule your tour of this prime investment property today!
Last Agent to Sell the Property
Kevin Block
KELLER WILLIAMS-TREC License #471009872 Listed on: 07/06/2020
Co-Listed By
Darin Bowers
KELLER WILLIAMS-TREC License #475172942
Last Buyer's Agent
Non Member
NON MEMBER
Property Details
Home Type
- Multi-Family
Year Built
- 2017
Lot Details
- 0.45
Home Design
- Vinyl Siding
Utilities
- Window Unit Cooling System
Community Details
- Insurance Expense $12,700
- Manager Expense $35,000
Listing and Financial Details
- Tenant pays for electric
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Jul 6, 2020
Closed on
Mar 5, 2021
Sold by
Hardwick Gene T and Hardwick T G
Bought by
Uggt Llc 401 E University
Seller's Agent
Kevin Block
KELLER WILLIAMS-TREC
Buyer's Agent
Non Member
NON MEMBER
List Price
$6,400,000
Sold Price
$5,500,000
Premium/Discount to List
-$900,000
-14.06%
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$1,441,000
Original Mortgage
$3,544,200
Interest Rate
2.34%
Mortgage Type
New Conventional
Purchase Details
Closed on
Jul 17, 2003
Sold by
Ekstedt Donald A and Ekstedt Jeannine
Bought by
Ekstedt David O
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$230,000
Interest Rate
7%
Mortgage Type
Commercial
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Purchase History
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| Uggt Llc 401 E University | $5,750,000 | None Available | |
| Ekstedt David O | $236,000 | -- |
Source: Public Records
Mortgage History
| Date | Status | Borrower | Loan Amount |
|---|---|---|---|
| Closed | Uggt Llc 401 E University | $3,544,200 | |
| Open | Uggt Llc 401 E University | $7,680,000 | |
| Previous Owner | Ekstedt David O | $230,000 |
Source: Public Records
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 03/05/2021 03/05/21 | Sold | $5,500,000 | -14.1% | -- |
| 01/20/2021 01/20/21 | Pending | -- | -- | -- |
| 07/06/2020 07/06/20 | For Sale | $6,400,000 | -- | -- |
Source: Midwest Real Estate Data (MRED)
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 |
|---|---|---|---|---|
| 2025 | $203,701 | $2,011,660 | $319,320 | $1,692,340 |
| 2024 | $191,848 | $2,335,890 | $284,600 | $2,051,290 |
| 2023 | $191,848 | $2,127,410 | $259,200 | $1,868,210 |
| 2022 | $180,472 | $1,962,550 | $239,110 | $1,723,440 |
| 2021 | $166,169 | $1,815,160 | $221,150 | $1,594,010 |
| 2020 | $158,498 | $1,728,720 | $210,620 | $1,518,100 |
| 2019 | $153,406 | $1,693,170 | $206,290 | $1,486,880 |
| 2018 | $149,960 | $1,666,500 | $203,040 | $1,463,460 |
| 2017 | $156,963 | $1,737,080 | $203,040 | $1,534,040 |
| 2016 | $41,710 | $504,260 | $198,860 | $305,400 |
| 2015 | $5,054 | $495,340 | $195,340 | $300,000 |
| 2014 | $8,359 | $99,360 | $59,560 | $39,800 |
| 2013 | $8,283 | $99,360 | $59,560 | $39,800 |
Source: Public Records
Agents Affiliated with this Home
-
-
D
Seller Co-Listing Agent in 2021
Darin Bowers
KELLER WILLIAMS-TREC
-
N
Buyer's Agent in 2021
Non Member
NON MEMBER
Map
Source: Midwest Real Estate Data (MRED)
MLS Number: MRD10772534
APN: 46-21-07-376-001
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some IDX listings have been excluded from this website.
Listings courtesy of Midwest Real Estate Data (MRED) as distributed by MLS GRID.
Based on information submitted to the MLS GRID
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