BEDS0
BATHS
MLS#12562906
STATUSActive
PROPERTY TYPEMulti Unit - Multiple
Property Description
1306 Silver Street presents a fully renovated, value-add multifamily opportunity in the heart of Urbana, Illinois. The 12,086 square foot property features a highly desirable unit mix dominated by spacious 2BR/1BA apartments, a format that continues to experience strong and consistent demand throughout the Champaign-Urbana rental market. The building has undergone a complete rehabilitation, significantly reducing near- and long-term capital expenditure risk. Improvements include 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 throughout. All units feature new appliances, creating a modern, move-in-ready offering for tenants. Current rents remain below market, providing immediate upside through rent stabilization while still delivering solid in-place cash flow from day one. At the asking price, the property supports an advertised pro forma cap rate near 8.0 rate, with additional NOI growth achievable as rents are brought to market levels. This offering is well-suited for both first-time multifamily investors and experienced operators seeking a turnkey asset with strong fundamentals, limited deferred maintenance, and clear income growth potential in a stable, institutionally supported market.
Property Features
Property Type: Multi Unit - Multiple
Cooling: Window Unit(s)
Lot Size: 0.26 Acres
Stories: 3.0
Taxes: $18,012
Year Built: 1966
Feature Descriptions
Electric: Separate Meters
HVAC: Forced Air
Lot Dimensions: 106x105
Parcel#: 932121181020
Tenant Pays: Varies by Tenant
Units: 12
Listed By / Shown By
Listed By
Agency Name: eXp Realty-Mahomet
Agency Phone: 217-239-7113
Shown By
Agency Title: Berkshire Hathaway HomeServices Crosby Starck Real Estate
Agency Phone: 815-397-4040
Estimate Your Payment
Estimated Payment
$ 3,703.58 per month $1,947.37 Principal & Interest $1,501.00 Property Tax $255.21 Homeowner's InsuranceChange Payment Information
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1306 Silver Street | MLS# 12562906
This multi-family property located at 1306 Silver Street, Urbana, IL 61801 is currently listed for sale with an asking price of $875,000. Search Urbana real estate on www.bhhscrosby.com today.