Renovated Multifamily
For Sale
$875,000
1306 Silver Street, Urbana, IL 61801
Fully renovated multifamily property with a 2BR/1BA-focused unit mix and new major building systems throughout.
Property Size12,086 SF
Price / SF$72.40
Days on Market208
Property Features for 1306 Silver Street
General Information
Standard status
Active
Size
12,086 SF
Property subtype
General Commercial
Additional Details
Cap Rate
8%
Taxes and HOA fees
Annual Taxes
$18,012
Amenities
Window Air Conditioning
3
Building Details
Year Built
1966
Tenancy
Multi
Listing Agency:
eXp Realty-Mahomet
(217) 493-9297
Listed By:
Nate Evans · License #475124281
(217) 493-9297
Source:
Xome
Added: Jan 27
Changed: Aug 23
Last Checked: Jul 24 at 1:47PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of eXp Realty-Mahomet
Investment Insights
Based on property information with market context.
1306 Silver Street is a fully renovated multifamily property offering a 12,086-square-foot building with a unit mix dominated by spacious 2BR/1BA apartments. The rehabilitation includes a new roof, all-new windows and exterior doors, new furnaces and air conditioning units, freshly tuckpointed brick exterior, and fully renovated kitchens and bathrooms. Units also feature new appliances.
The property is located in Urbana, Illinois, and is described as a value-add opportunity with current rents remaining below market.
As presented in the offering materials, the property supports an advertised pro forma cap rate near 8.0, with additional NOI growth anticipated as rents are brought to market levels.
The property is located in Urbana, Illinois, and is described as a value-add opportunity with current rents remaining below market.
As presented in the offering materials, the property supports an advertised pro forma cap rate near 8.0, with additional NOI growth anticipated as rents are brought to market levels.
Key Highlights
- 12,086 SF multifamily building built in 1966
- Unit mix is dominated by spacious 2BR/1BA apartments
- New roof, all new windows and exterior doors, and freshly tuckpointed brick exterior
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
531
Businesses Nearby
Explore this area
Business Placement
Demographics for 61801, IL
27,658
Population
13,468
Households
2.1
Avg Household Size
26
Median Age
65%
College-Educated
98%
High-School Grad
5.4 sq mi
ZIP Area
5,122
Density / Sq Mi
$37,948
Median Household Income
$26,394
Median Earnings
$950
Median Rent
$184,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - Fully renovated multifamily property with a 2BR/1BA-focused unit mix and new major building systems throughout.
Where is this multifamily property located?
The property is located at 1306 Silver Street Urbana, IL.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: 12,086 SF multifamily building built in 1966; Unit mix is dominated by spacious 2BR/1BA apartments; New roof, all new windows and exterior doors, and freshly tuckpointed brick exterior
