Recently Viewed Properties
See This Home
Save This Listing
Close

$250,000

  • Sold
  • Closed
  • Multi-Family
  • 7 Total Beds
  • 1 Car Garage
See This Home
Save This Home
See This Home
Save This Home
Two contiguous homes both with R-5 Zoning allowing Medium Density Multi-Family. Approximately 17,250 square feet of zoning allowing building heights up to 35 feet as per the City of Urbana. Combined the units rent for $25,320 per year currently and are locally third party managed. Earn rent until you are ready to build! Consult local zoning and perform due diligence before making an offer. Listing agent believes that the units are currently under-rented and thus there exists potential for value add.

Full Property Details for 503-505 E Elm St

General

  • Sold For: $250,000
  • Taxes: $4,742 (2022)
  • Status: Closed
  • Type: Multi-Family
  • Source: MRED
  • MLS ID: 11911199
  • Added to Site: 824 day(s) ago

Rooms

Bathrooms

  • Total Bathrooms: 3

Bedrooms

  • Total Bedrooms: 7

Parking

  • Garage: Yes
  • Garage Ownership: Owned
  • Garage Spaces: 1
  • Total Spaces: 5
  • Parking Type: Garage, Space(s)
  • Parking On-Site: Yes

Location

  • Area: Urbana
  • County: Champaign
  • Driving Directions: N Vine to E Elm or E Main to Maple to Elm

School Information

  • School District: 116
  • Midd School District: 116
  • Elementary School: Leal Elementary School
  • Middle School: Urbana Middle School
  • High School: Urbana High School
  • Private School: Urbana High School

Heating & Cooling

  • Heating Type: Natural Gas

Utilities

  • Water: Public

Structural Information

  • Exterior Const.: Aluminum Siding, Vinyl Siding
  • Basement Desc.: Full
  • Built Before 1978: Yes

Unit Information

  • Units in Building: 2

Lot Features

  • Lot Size Range: .25 to .49 Acre
  • Lot Dimensions: 138 x 125
  • Zoning: MULTI

Financial Considerations

  • Tax Amount: $4,742
  • Tax Year: 2022

Disclosures and Reports

  • Ownership: Fee Simple
  • Property ID: 922117235005

Listed by RE/MAX Choice
Sold by RE/MAX Choice

Listing agent

— 503-505 E Elm St —

  • RE/MAX Choice

Get Pre-Approved Today

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Price & Sales History for 503-505 E Elm St

Date
Details
Price
Change
Source
1/09/2024
Sold
$250,000
-36.71%
MLS
10/26/2023
Price Reduced
$395,000
-20.2%
MLS
10/17/2023
Listed
$495,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Listed by RE/MAX Choice
Sold by RE/MAX Choice

503-505 E Elm Street, Urbana, IL 61801 (MLS# 11911199) is a Multi-Family property that was sold at $250,000 on January 09, 2024. Want to learn more about 503-505 E Elm Street? Do you have questions about finding other Multi-Family real estate for sale in Urbana? You can browse all Urbana real estate or contact a Coldwell Banker agent to request more information.