Furnished Five-Unit Apartment
For Sale
$575,000
707 W Elm Street, Urbana, IL 61801
Commercial Sale, Urbana, IL
Property SizeContact for details
Days on Market13
Property Features for 707 W Elm Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
MULTI
Bedrooms
17
Bathrooms
7
Full bathrooms
7
Rooms
Bathroom 1, Bedroom 2, Bedroom 8, Bedroom 10, Bedroom 15, Bathroom 7, Bedroom 7, Bedroom 11, Bedroom 13, Bedroom 9, Bedroom 17, Bedroom 4, Bathroom 3, Bathroom 6, Bedroom 1, Bedroom 6, Bathroom 2, Bathroom 5, Bedroom 14, Bathroom 4, Bedroom 12, Bedroom 3, Bedroom 16, Bedroom 5
Directions
1.5 Blocks east of Lincoln on Elm
Subdivision
Urbana
Standard status
Active
APN
922117106004
Taxes and HOA fees
Tax Year
2025
Tax Description
LOT 6 SIM'S JOSEPH W JR & SARAH A ADDT
Tax Annual Amount
17083
Legal Description
LOT 6 SIM'S JOSEPH W JR & SARAH A ADDT
Utilities
Cooling system
Central Air
Amenities
gas fireplace
refrigerator
stove
dishwasher
microwave
private balcony/patio
on-site laundry facilities
assigned off-street parking
fiber-optic internet
Building Details
Floors in Building
3
Number of units
5
Listing Agency:
eXp Realty-Champaign
(888) 574-9405
Listed By:
J Leman · License #475184798
(217) 778-5320
Added: Sep 15
Changed: Sep 24
Last Checked: Sep 27 at 3:06PM
MLS# 12759922
Copyright © 2026 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This five-unit apartment building includes furnished residences with a varied layout: one two-story townhouse with four bedrooms and two full baths, two three-bedroom apartments with cathedral ceilings, and two two-bedroom apartments. Each unit includes a gas fireplace, refrigerator, stove, dishwasher, microwave, and either a private balcony or patio. Central air serves the property, while on-site laundry and assigned off-street parking support resident convenience.
The property is zoned MULTI and sits in Urbana near the University of Illinois, downtown Urbana, restaurants, and shopping. It is approximately 1 1/2 blocks east of Lincoln Avenue and one block north of Green Street. Fiber-optic internet and common-area fees are included in rent, while electricity and water are separately metered and billed to tenants. All five units are rented for the 2026-2027 school year. The property also has a newer roof and recent updates.
The property is zoned MULTI and sits in Urbana near the University of Illinois, downtown Urbana, restaurants, and shopping. It is approximately 1 1/2 blocks east of Lincoln Avenue and one block north of Green Street. Fiber-optic internet and common-area fees are included in rent, while electricity and water are separately metered and billed to tenants. All five units are rented for the 2026-2027 school year. The property also has a newer roof and recent updates.
Key Highlights
- Five‑unit property with one four‑bedroom, two‑bath townhouse, two three‑bedroom units, and two two‑bedroom units
- Furnished apartments include gas fireplaces, full kitchen appliances, and private balconies or patios
- All five units are rented for the 2026‑2027 school year
Property Analytics
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Current Use
Lease Details
5
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,745
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Apartment building - Furnished apartments offer fireplaces, private outdoor space, assigned parking, and on-site laundry facilities.
Where is this apartment building located?
The property is located at 707 W Elm Street Urbana, IL.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Five‑unit property with one four‑bedroom, two‑bath townhouse, two three‑bedroom units, and two two‑bedroom units; Furnished apartments include gas fireplaces, full kitchen appliances, and private balconies or patios; All five units are rented for the 2026‑2027 school year
