806 West Ohio Street

Urbana, IL 61801

$525,000
Price
14
Beds
3
Baths
3,834 Sq. Ft.
$137 / Sq. Ft.
3,834
Sq. Ft.
$137
per Sq. Ft.

Description

Cashflow AND future development potential. Just a good stone's-throw away from the University of Illinois campus, this blue-chip investment property is already rented to a group for the 2024-25 school year (rent goes up to $5,825 in August). This stately converted house sports three floors, plus a finished basement. Zoned R-7. Your tenants will appreciate the paved parking out back, and the electric system was updated circa 2009. Tenants pay all utilities. Lessee is a corporate entity, so easy to...Cashflow AND future development potential. Just a good stone's-throw away from the University of Illinois campus, this blue-chip investment property is already rented to a group for the 2024-25 school year (rent goes up to $5,825 in August). This stately converted house sports three floors, plus a finished basement. Zoned R-7. Your tenants will appreciate the paved parking out back, and the electric system was updated circa 2009. Tenants pay all utilities. Lessee is a corporate entity, so easy to work with. Owner is a licensed real estate broker.
  1. Listed by Philip Fiscella • Abe Lincoln Realty

Property Details for 806 West Ohio Street

Area
Urbana
Township
Cunningham
Ownership
Fee Simple
Num Of Parking Spaces
10.0
Heat/Fuel
Natural Gas, Electric
Zoning
MULTI
LISTING UPDATED: 08/17/2024 03:25 AM

Property Details for 806 West Ohio Street

StatusActive
MLS #11958215
Days on Market448
Taxes$10,579 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeTwo to Four Units / Converted Residence
Year Built-
Lot Size0.16 AC / 7,020 SF
CountyChampaign County

Building Information for 806 West Ohio Street

Stories-Residences2Year Built-Building Size-Lot Size0.16 AC / 7,020 SF

Property Information for 806 West Ohio Street

General Information
School Information
  • Elementary School District: 116
  • Elementary School: Leal Elementary School
  • Jr High Middle School: Urbana Middle School
  • High School District: 116
  • High School: Urbana High School
  • Middle Or Junior School District: 116
Addtl Parking Information
  • Parking: Space/s
  • Parking On Site: true
  • Parking Ownership: Owned
Property Information
Interior Features
  • Num Of Rooms: 18
  • Bedrooms (Below Grade): 0
  • Basement Type: Full
  • Bedrooms Possible: 14
  • Basement Description: Finished
  • Grid: 56
  • Basement Bathrooms: No
  • # Full Baths in Building: 3
  • # Half Baths in Building: 0
  • Num of Baths: 3.0
Utilities / Equipment
  • Sewer: Sewer-Public
  • Water: Private
Property/Lot Information
  • New Construction YN: No
  • Rebuilt: No
  • Rehabilitated: No
  • Built Before 1978: Yes
  • Age: 91-100 Years
  • Lot Size: Less Than .25 Acre
  • Lot Dimensions: 52X135
  • Total # Units in Building: 2.0
  • Waterfront: No
  • Exterior Building Type: Asbestos Siding
  • General Information: School Bus Service,Commuter Bus
  • 3 Br Un In Bldg: No
Property and Assessments
  • Public Document Count: 1
  • Document Date: 2024-01-09T13:15:32
  • Photos Count: 20
  • OpenHouse Count: 0
Virtual Tour/Additional Media
  • Virtual Tour: None
  • Virtual Tour YN: No
Multi Family
Income & Expenses
  • Gross Income: $5,500.00
  • Insurance Expense: $1,286.00
  • Insurance Expense Source: Actual
  • Other Addl Income: Coin Laundry
  • Net Operating Income: $5,500.00
Unit 1
  • Unit Type Actual Rent: $5,500.00
  • Unit Type Baths Total: 2
  • Unit Type Beds Total: 7
  • Unit Type Type: Unit 1
  • Lease Expiration Date: 08/25
Unit 2
  • Unit Type Actual Rent: $.00
  • Unit Type Baths Total: 1
  • Unit Type Beds Total: 7
  • Unit Type Type: Unit 2
  • Lease Expiration Date: 08/25

Property History for 806 West Ohio Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 806 West Ohio Street

Taxable ValueLand$23,920Additions$82,220Total$106,140
Tax Record2023$11,290 ($941 / month)
Home Facts
Total Finished SqFt1,181 SqFtAbove Grade Finished SqFt1,181 SqFtStories2Lot Size5,252 SqFtStyleMulti-Family Dwelling (2-4)Year Built1914CountyCHAMPAIGNAPN932117302006

Schools near 806 West Ohio Street

This home is within Urbana School District 116.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Public - K to 12
Rating
School
Distance
Leal Elementary School
PublicK to 5

Urbana Middle School
Public6 to 8

Urbana High School
Public9 to 12

Urbana Gerber School
PublicK to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

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806 West Ohio Street is a multi-family home for sale in Urbana, IL 61801. This property was listed for sale on January 8, 2024 by Abe Lincoln Realty, it's currently listed at $525,000. It has been on the market for a total of 448 days and was last sold on December 16, 2005. This listing's school district is Urbana School District 116. Nearby schools include Leal Elementary School, Urbana Middle School and Urbana High School. 806 West Ohio Street is a 14-bed, 3-bath, 3,834 sqft multi-family home.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Abe Lincoln Realty

Based on information from one of the following Multiple Listing Services: Midwest Real Estate Data LLC (\"MRED\"), MRED PLN GRID, Northwest Indiana REALTORS® Association and NorthWest Illinois Alliance of REALTORS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by Midwest Real Estate Data LLC (\"MRED\"), MRED PLN GRID, Northwest Indiana REALTORS® Association and NorthWest Illinois Alliance of REALTORS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. Based on information submitted to the MLS GRID as of 08/17/2024 03:25 AM. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.