D
Seller's Agent in 2021
Darin Bowers
KELLER WILLIAMS-TREC
407 E University Ave Champaign, IL 61820
48
Beds
48
Baths
--
Sq Ft
0.4
Acres
About This Home
As of March 2021407 E University Avenue is a 48 unit, 4 story building constructed in 2002 with all 1 bedroom apartments. The ground floor offers 5 office units comprising almost 6,000 SF. The apartment units are partially furnished, and could easily be fully furnished to improve the rental rates. The parking garage is below grade with 52 spaces that are rented to tenants for $55 each per month, and an additional 25 parking spaces are grade level and used for the commercial office spaces. One elevator and 2 stairwells provide access to the 4 levels, and each unit has a balcony or terrace. The electric service and water are both paid by the tenants, and the internet service is provided by the owner. This property is approximately 2 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. This Value-Add Opportunity will require some cosmetic updates to most units. Additionally, the partially rented office space on the ground floor could be converted to amenities such as a fitness center, study lounge, and game room and would help the property compete better in today's market. By investing a relatively small amount on these upgrades, a new owner will create instant equity and strong positive cash flow.
Last Listed By
Darin Bowers
KELLER WILLIAMS-TREC License #475172942 Listed on: 07/09/2020
Property Details
Home Type
- Multi-Family
Year Built
- 2002
Lot Details
- 0.4
Home Design
- Block Exterior
- Vinyl Siding
Utilities
- Window Unit Cooling System
Community Details
- Insurance Expense $8,854
- Manager Expense $30,000
Listing and Financial Details
- Tenant pays for electric, water/sewer
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area
Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 03/05/2021 03/05/21 | Sold | $3,200,000 | -25.6% | -- |
| 01/20/2021 01/20/21 | Pending | -- | -- | -- |
| 07/09/2020 07/09/20 | For Sale | $4,300,000 | -- | -- |
Source: Midwest Real Estate Data (MRED)
Tax History Compared to Growth
Agents Affiliated with this Home
-
-
K
Seller Co-Listing Agent in 2021
Kevin Block
KELLER WILLIAMS-TREC
-
N
Buyer's Agent in 2021
Non Member
NON MEMBER
Map
Source: Midwest Real Estate Data (MRED)
MLS Number: MRD10776848
APN: 462107376003
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.
Based on information submitted to the MLS GRID. 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.
The Digital Millennium Copyright Act of 1998, 17 U.S.C. § 512 (the “DMCA”) provides recourse for copyright owners who believe that material appearing on the Internet infringes their rights under U.S. copyright law. If you believe in good faith that any content or material made available in connection with our website or services infringes your copyright, you (or your agent) may send us a notice requesting that the content or material be removed, or access to it blocked.
Notices must be sent in writing by email to DMCAnotice@MLSGrid.com.
The DMCA requires that your notice of alleged copyright infringement include the following information:
(1) description of the copyrighted work that is the subject of claimed infringement;
(2) description of the alleged infringing content and information sufficient to permit us to locate the content;
(3) contact information for you, including your address, telephone number and email address;
(4) a statement by you that you have a good faith belief that the content in the manner complained of is not authorized by the copyright owner, or its agent, or by the operation of any law;
(5) a statement by you, signed under penalty of perjury, that the information in the notification is accurate and that you have the authority to enforce the copyrights that are claimed to be infringed; and
(6) a physical or electronic signature of the copyright owner or a person authorized to act on the copyright owner’s behalf. Failure to include all of the above information may result in the delay of the processing of your complaint.
Nearby Homes
- 503 E Park St
- 506 E Church St
- 507 E Washington St
- 1115 W Hill St
- 301 N Neil St Unit 611
- 301 N Neil St Unit 808-809
- 901 W Main St
- 907 N Walnut St
- 503 N State St
- 1301 N Lincoln Ave
- 915 N Linview Ave
- 212 W John St
- 408 N Prairie St Unit 9
- 311 W Columbia Ave
- 312 W Columbia Ave
- 604 W Main St
- 804 W Oregon St
- 1303 N Champaign St
- 709 W Oregon St
- 803 W Nevada St
- 407 E University Ave
- 405 E University Ave
- 413 E University Ave
- 401 E University Ave
- 406 E Clark St
- 408 E Clark St
- 404 E Clark St
- 106 S 4th St
- 504 E University Ave
- 106 S 5th St
- 502 E University Ave
- 502 E University Ave Unit 11
- 108 S 5th St
- 514 E University Ave
- 108 S 4th St
- 504 E Clark St
- 315 E University Ave
- 505 E University Ave Unit 505-519
- 505 E University Ave Unit 1
- 505 E University Ave Unit 1