2017 Philo RD new Save Request In-Person Tour Request Virtual Tour
Urbana,IL 61802
Key Details
Property Type Multi-Family
Sub Type Multi Family 5+
Listing Status Active
Purchase Type For Sale
MLS Listing ID 12345809
Year Built 1969
Annual Tax Amount $26,360
Tax Year 2023
Lot Dimensions 115X104
Property Sub-Type Multi Family 5+
Property Description
This 24-unit apartment building in Urbana, Illinois, offers a rare and highly sought-after opportunity for investors seeking a true value-add project. All units are currently vacant and in need of renovation, presenting significant upside through capital improvements and repositioning. Each unit is a 1-bedroom, 1-bath layout similar to stabilized properties nearby, with market rents ranging from 850 dollars per month after rehab. The property is located near the intersection of Silver Street and Philo Road - a central Urbana neighborhood with strong rental demand from students, professionals, and Section 8 tenants. Whether you're a seasoned investor or new to multifamily repositioning, this asset is ideal for increasing long-term equity and generating strong returns in a proven rental market.
Location
State IL
County Champaign
Area Urbana
Zoning MULTI
Interior
Fireplace N
Building
Dwelling Type Multi Family 5+
Level or Stories 3